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Mar
9
2009
Does anyone have the time frame of how long to keep financial files, such as Bank statments, paid utility and credit card bills, Tax returns, etc.? I am in the process of cleaning out my filing cabinet to make room for current files. Thanks!
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Answer #1
Tax related documents should be kept for seven years. If it’s a long term tax related item (like a house, or stocks) the documents should be kept for seven years after you no longer have the investement.
Usually you can shred credit card statements, misc bills, and that type of thing after a year, unless there are any tax related reasons to keep them around.