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How Long to Keep Important Financial Records

MazumaBusinessAccounting

Remember, the IRS recommends keeping tax-related documents for at least six years. Whether you’re keeping the record for one month or 10 years, record-keeping best practices dictate you should store documents electronically (go paperless when you can), and always backup your files by saving them in the cloud.

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Financial Record Keeping: How Long To Keep Financial Records?

Clever Girl Finance

Birth certificates / Adoption paperwork. Death Certificates. Marriage Certificates. Marriage certificates are usually needed for the Social Security Administration status and/or name change, driver license name change, mortgage loans, life insurance, health insurance, etc. Property tax records. Divorce decrees.

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16 Smart Ways to Invest $15,000 for the Long Haul

Good Financial Cents

Certificates of Deposit (CDs) . This type of retirement account is only available to individuals whose incomes fall under certain thresholds, yet it lets you save money for retirement on an after-tax basis. In other words, you benefit from tax-free growth and tax-free distributions once you reach retirement age.

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What Are I-Bonds? Plus Creative Ways To Include Them In Your Investment Plan

Gen Y Planning

You can purchase them electronically via Treasury Direct or use your tax refund to buy a set amount of paper certificates. Every individual can buy up to $10,000 in electronic I-bonds per year. You will have to pay federal, but not state, tax on the interest from your I-bond. I-Bonds and Interest.

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7 Steps To Declutter Paperwork Including Financial Documents

Clever Girl Finance

Shred Anything with sensitive personal information, like your name, address, social security number, or account numbers, goes into the shred pile. For one, you can sign up to receive electronic bills and can pay them online, instead of receiving and sending them in the mail. How do I stop hoarding paperwork?

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How to Invest $1 Million Dollars in Today’s Market (Without Blowing It)

Good Financial Cents

As an example, we all know that most people’s tax refunds are spent before they get the check in the mail. Certificates of Deposit (CDs). The first place I would park some of the money is in a Certificate of Deposit (CDs). A Certificate of Deposit (CD) is pretty much the safest and most guaranteed investment you can make.

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How To Get Free Money Now: 15 Effortless Ways

Clever Girl Finance

One of the advantages of having a savings account or more liquid forms of money (such as certificates of deposit or money market accounts) is that they earn interest for you while you sleep. It’s not uncommon to retire electronics after a few years, even if they’re still functional. Revisit your tax return.