In keeping with our mission to share what we know about taxes and financial success, we would like to share some basic tips for all taxpayers to refer to. The following record-keeping tips are meant to help you come to your tax preparer with everything you need to get your return filed correctly. Remember that each tax payer and each tax return require individualized attention and processing. Should the IRS decide to audit you or your business, it is integral that you have all the requisite documentation in order. Here is some advice (gleaned from the IRS) regarding maintaining good records and proof of your tax return:

– Credit card statements

– Bills and receipts of payments

– Invoices

– Mileage logs

– Cancelled, imaged, or substitute checks

– Proof of payments and records to show proof of any deductions or credits claimed on your tax return

• All tax records should be kept for three years
• Documents relating to home purchase or sale, stock transactions, IRA, and business or rental property should be kept even longer
• Though there is no set format required for documentation, you should keep any and all documentation that is relevant to your tax return, such as