Required documents to keep on file:

• Copies of Drivers License or State IDs
• Social Security Cards
• Proof of Residence for dependents claiming EIC

Income documents:

• Income from jobs: forms W-2 for you and your spouse
• Investment income—various forms 1099 (-INT, -DIV, -B, etc.), K-1s, stock option information
  
• Income from state and local income tax refunds and/or unemployment: forms 1099-G
  
• Taxable alimony received
  
• Business or farming income—profit/loss statement, capital equipment information
  
• If you use your home for business—home size, office size, home expenses, office expenses
  
• IRA/pension distributions—forms 1099-R, 8606
  
• Rental property income/expense—profit/Loss statement, rental property suspended loss information
  
• Social Security benefits—forms SSA-1099
  
• Income from sales of property—original cost and cost of improvements, escrow closing statement, cancelled debt information (form 1099-C)
  
• Prior year installment sale information—forms 6252, principal and Interest collected during the year, SSN and address of payer
  
• Other miscellaneous income—jury duty, gambling winnings, Medical Savings Account (MSA), scholarships, etc.

How can I check on my tax refunds? Tax Related Web-sites/phone numbers: IRS www.irs.gov IRS Get Refund Status IRS Inquiry Phone: (800) 829-1040

Other tax documents:

• IRA contributions
  
• Energy credits
  
• Student loan interest
  
• Medical Savings Account (MSA) contributions
  
• Moving expenses (for tax years prior to 2018 only)
  
• Self-employed health insurance payments
  
• Keogh, SEP, SIMPLE and other self-employed pension plans
  
• Alimony paid that is tax dedcutible
  
• Educator expenses
  
• State and local income taxes paid
  
• Real estate taxes paid
  
• Personal property taxes—vehicle license fee based on value
  
• Estimated tax payment made during the year, prior year refund applied to current year, and any amount paid with an extension to file.
  
• Direct deposit information—routing and account numbers
  
• Foreign bank account information—location, name of bank, account number, peak value of account during the year

Tax deduction documents:

• Advance Child Tax Credit payment
• Letter 6419, Advance Child Tax Credit Reconciliation
• If you received 'Your Third Economic Impact Payment', Letter 6475
• Child care costs—provider’s name, address, tax id, and amount paid
• Education costs—forms 1098-T, education expenses
• Adoption costs—SSN of child, legal, medical, and transportation costs
• Home mortgage interest and points you paid—Forms 1098
• Investment interest expense
• Charitable donations—cash amounts and value of donated property, miles driven, and out-of-pocket expenses
• Casualty and theft losses—amount of damage, insurance reimbursements
• Other miscellaneous tax deductions—union dues, unreimbursed employee expenses (uniforms, supplies, seminars, continuing education, publications, travel, etc.)  (for tax years prior to 2018 only)
• Medical and dental expenses

Business Documents To Keep For One Year:

• Correspondence with Customers and Vendors
  
• Duplicate Deposit Slips
  
• Purchase Orders (other than Purchasing Department copy)
  
• Receiving Sheets
  
• Requisitions
  
• Stenographer's Notebooks
  
• Stockroom Withdrawal Forms
  

Business Documents To Keep For Three Years:

• Employee Personnel Records (after termination)
  
• Employment Applications
  
• Expired Insurance Policies
  
• General Correspondence
  
• Internal Audit Reports
  
• Internal Reports
  
• Petty Cash Vouchers
  
• Physical Inventory Tags
  
• Savings Bond Registration Records of Employees
  
• Time Cards For Hourly Employees

Business Documents To Keep For Six Years:

• Accident Reports, Claims
  
• Accounts Payable Ledgers and Schedules
  
• Accounts Receivable Ledgers and Schedules
  
• Bank Statements and Reconciliations
  
• Cancelled Checks
  
• Cancelled Stock and Bond Certificates
  
• Employment Tax Records
  
• Expense Analysis and Expense Distribution Schedules
  
• Expired Contracts, Leases
  
• Expired Option Records
  
• Inventories of Products, Materials, Supplies
  
• Invoices to Customers
  
• Notes Receivable Ledgers, Schedules
  
• Payroll Records and Summaries, including payment to pensioners
  
• Plant Cost Ledgers
  
• Purchasing Department Copies of Purchase Orders
  
• Sales Records
  
• Subsidiary Ledgers
  
• Time Books
  
• Travel and Entertainment Records
  
• Vouchers for Payments to Vendors, Employees, etc.
  
• Voucher Register, Schedules

Special Circumstances:

• Car Records (keep until the car is sold)
  
• Credit Card Receipts (keep with your credit card statement)
  
• Insurance Policies (keep for the life of the policy)
  
• Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
  
• Pay Stubs (keep until reconciled with your W-2)
  
• Property Records / improvement receipts (keep until property sold)
  
• Sales Receipts (keep for life of the warranty)
  
• Stock and Bond Records (keep for 6 years beyond selling)
  
• Warranties and Instructions (keep for the life of the product)
  
• Other Bills (keep until payment is verified on the next bill)
  
• Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)

Personal Documents To Keep For One Year:

• Bank Statements
  
• Paycheck Stubs (reconcile with W-2)
  
• Canceled checks
  
• Monthly and quarterly mutual fund and retirement contribution statements (reconcile with year end statement)
  

Personal Documents To Keep For Three Years:

• Credit Card Statements
  
• Medical Bills (in case of insurance disputes) 
  
• Utility Records
  
• Expired Insurance Policies 
  

Personal Documents To Keep For Six Years:

• Supporting Documents For Tax Returns
  
• Accident Reports and Claims
  
• Medical Bills (if tax-related)
  
• Property Records / Improvement Receipts
  
• Sales Receipts
  
• Wage Garnishments
  
• Other Tax-Related Bills

Personal Records To Keep Forever:

• CPA Audit Reports
  
• Legal Records
  
• Important Correspondence
  
• Income Tax Returns
  
• Income Tax Payment Checks
  
• Investment Trade Confirmations
  
• Retirement and Pension Records
  

Business Records To Keep Forever:

While federal guidelines do not require you to keep tax records “forever,” in many cases there will be other reasons you'll want to retain these documents indefinitely.

• Audit Reports from CPAs/Accountants
  
• Cancelled Checks for Important Payments (especially tax payments)
  
• Cash Books, Charts of Accounts
  
• Contracts, Leases Currently in Effect
  
• Corporate Documents (incorporation, charter, by-laws, etc.)
  
• Documents substantiating fixed asset additions
  
• Deeds
  
• Depreciation Schedules
  
• Financial Statements (Year End)
  
• General and Private Ledgers, Year End Trial Balances
  
• Insurance Records, Current Accident Reports, Claims, Policies
  
• Investment Trade Confirmations
  
• IRS Revenue Agents' Reports
  
• Journals
  
• Legal Records, Correspondence and Other Important Matters
  
• Minute Books of Directors and Stockholders
  
• Mortgages, Bills of Sale
  
• Property Appraisals by Outside Appraisers
  
• Property Records
  
• Retirement and Pension Records
  
• Tax Returns and Worksheets
  
• Trademark and Patent Registrations

TAXES

What is my potential estate tax liability?

Federal income tax calculator

Should I adjust my payroll withholdings?

Will my investment interest be deductible?

How much self-employment tax will I pay?

Capital gains (losses) tax estimator

Compare taxable, tax-deferred, and tax-free investment growth

How much of my social security benefit may be taxed?

What are the tax implications of paying interest?

Should I itemize or take the standard deduction?

What is my tax-equivalent yield?

Tax refund estimator

Tax freedom day

SAVINGS

Becoming a millionaire

Income generated by a savings plan

How long will it take to double my money?

How long until my savings reach my goal?

Save now vs. save later

How much should I save to reach my goal?

What will my current savings grow to?

Calculate rate of return

How do taxes and inflation impact my return?

What is my effective annual yield?