Tax time inevitably means sitting down to a table or desk filled with documents, receipts, and forms. Why not make your job easier this year by taking time to organize first? Getting rid of old or unnecessary documents via professional home shredding services lets you get to the heart of your tax matters faster and can reduce mistakes in data entry or calculations.
Know What’s a Keeper
According to Anna Sandall from the Tax Institute, you should keep tax returns and all supporting documents for three years. That’s related to the IRS statute of limitations for claiming a refund. As with any rule, there are exceptions. Tax documents related to IRA accounts, bad debt claims, or amortization should be kept for seven years or more. Some documents, such as land deeds, should be kept indefinitely. If you have questions about which tax documents are keepers and what can be shredded, speak to a CPA to avoid making costly errors.
Order Professional Home Shredding Services
You can order a one-time shredding service or a recurring shredding service to get rid of unnecessary documents that are cluttering your home or business office. Paper clutter can get in the way of efficient financial management and tax preparation. Make sure you understand all rules associated with your shredding service and only deliver items that can be processed. Certain things, like hazardous waste or wet paper, can never be shredded.
Organization and Security
Opting to shred documents with sensitive personal and financial data helps secure your finances and identity. Tossing these documents in the garbage puts you at major risk. As unlikely as it sounds, identity thieves do go through residential garbage cans and commercial bins to look for these types of documents in order to steal identities and commit fraud.
So how you will prepare for the upcoming tax season? Ready to order home shredding services? Just give us a call.