Know which financial records to save, toss

If the memory of hours spent hunting for and organizing paperwork to file your taxes is still fresh, think about doing some financial spring cleaning so next year's tax preparation won't be such an ordeal. Many people hold onto mounds of receipts and account statements because they're...

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Published inThe Courier
Main Author Alderman, Jason
Format Newspaper Article
LanguageEnglish
Published Houma, La Halifax Media Group 15.04.2012
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Abstract If the memory of hours spent hunting for and organizing paperwork to file your taxes is still fresh, think about doing some financial spring cleaning so next year's tax preparation won't be such an ordeal. Many people hold onto mounds of receipts and account statements because they're not sure when it's safe to toss them. By toss, I mean shred - don't give identity thieves any ammunition. You can always save actual documents and receipts. But if your goal is to reduce paper clutter, scan copies and save as PDF files. Back up electronic "soft copies" on an encrypted flash drive or external hard drive in case your computer crashes. And, if you're worried about fire, theft or other disasters, store additional copies in a safety deposit box or with a trusted friend.
AbstractList If the memory of hours spent hunting for and organizing paperwork to file your taxes is still fresh, think about doing some financial spring cleaning so next year's tax preparation won't be such an ordeal. Many people hold onto mounds of receipts and account statements because they're not sure when it's safe to toss them. By toss, I mean shred - don't give identity thieves any ammunition. You can always save actual documents and receipts. But if your goal is to reduce paper clutter, scan copies and save as PDF files. Back up electronic "soft copies" on an encrypted flash drive or external hard drive in case your computer crashes. And, if you're worried about fire, theft or other disasters, store additional copies in a safety deposit box or with a trusted friend.
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