Tax papers to keep and what you can shred

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NEW HAVEN, Conn. (WTNH)– Tuesday is the tax deadline and as the busy filing season winds down, you likely have stacks of paperwork you need to store. We talked to Green and Sklarz partner Eric Green, who says you only need to keep documents for the last six years or so. Anything older than that can be shredded and thrown out.

You should also consider storing your documents electronically so they’re easy to access and not taking up space in your home. Green added this is the best time of year to get all of your finances in order.

“After you’ve done your return, it’s always good to do what I refer to as an audit file where you have everything kept in one place. Don’t start scattering your documents the bank statements go here, credit card information go there, try to keep it all together. If you need it in other places, make copies,” said Eric Green, Partner with Green & Sklarz LLC.

Something to keep in mind: right after tax time is a good time to find discounts at office supply stores, so if you need any software to get organized or supplies for next year, now’s the time to find deals. There will be more back-to-school type office deals come June.

If you don’t think you will make the tax deadline, Tuesday on Good Morning Connecticut we’ll let you know what you need to know about filing an extension and what you should do next.

 

 

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