When it comes to documents, a general rule of thumb is to keep records per the three-year statute of limitations rule (plus an extra year for cushion). Do you have questions about how long to retain documents including general ledgers, depreciation schedules, cancelled checks, property records, and tax returns? As usual, there are exceptions, so be sure to consult with our CPAs regarding your unique situation–and how they can help you avoid three common record retention mistakes by identifying important records, avoiding missing records, and planning for secure storage.
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