Resources / Resources
Record Retention
General guidance on how long to keep common tax and business records.
Personal
| Tax returns (as filed) | Permanent |
| Supporting documents (W-2s, 1099s, receipts) | 7 years |
| Bank & credit card statements | 1 to 3 years |
| Investment purchase & cost-basis records | Until sold + 7 years |
| Home purchase & improvement records | Until sold + 7 years |
| Loan documents | Until paid off + 7 years |
Business
| Tax returns & supporting records | 7 years |
| Payroll tax records | 4 to 7 years |
| Employee records (after termination) | 7 years |
| Year-end financial statements | Permanent |
| Formation documents, minutes, deeds | Permanent |
| Asset & depreciation records | Life of asset + 7 years |
Disclaimer
These resources are provided for general informational purposes only and do not constitute tax, legal, or accounting advice. Tax laws change frequently, please consult OnePoint Business Solutions before acting on any item here.