Information-Record-Retention Schedule
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Numerous Clients have requested information on the retention period of tax documents. Below is a shortlist of a number of records you may have and how long these items should be retained:
| Copies of Tax Returns | Forever | |
| Tax and Legal Correspondence | Forever | |
| Audit Reports | Forever | |
| Contracts and Leases | Forever | |
| Real Estate Records | Forever | |
| Corporate Minutes and Stock Record | Forever | |
| Bank Statements | 6 Years | |
| General Ledger and Journals | 6 Years | |
| Sales Records and Journals | 6 Years | |
| Personal Investment Records | 6 Years After Sales | |
| IRA Records | 6 Years After Withdrawals | |
| Canceled Checks | 3 Years | |
| Paid Vendor Invoices | 3 Years | |
| Employee Payroll Records | 3 Years | |
| Employee Expense Records | Years | |
| Depreciation Schedules | Tax Life Of Asset + 3 Years |