Serving Northwest Ohio Since 1982 Monday December 18, 2017
Accountant Steyer & Co. Accountant

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How long should I keep my tax and business records?
HOW LONG SHOULD I KEEP MY TAX AND BUISNESS RECORDS? Recommended Document Retention Permanent Records These records should be maintained for 7 years after liquidation of the entity. Corporate Bylaws, minutes and stock records Partnership agreements and amendments Operating agreements (LLC) and amendments Financial statements Tax returns General Ledger and Journals Long-term Records These records should be maintained for period covered or ownership period plus 7 years. Contracts and leases Real estate records Capital asset invoices and other records Depreciation schedules Employee personnel records 7 Year Records Other business records used to determine income and expenses should be retained for six years from the later of the due date or filing date of the tax return. Bank statements and deposits slips Cancelled checks Vendor invoices Sales invoices and records Employee expense reports Employee payroll records Inventory records The recommended retention periods listed above are for tax reporting purposes and may not be appropriate for legal matters. We suggest you consult with your attorney or legal advisor for all legal issues.
2000 North Clinton Street, Defiance, OH 43512         Tel: 419-782-1030         Fax: 419-782-5298        Email Us
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