topic Re: Time for today's riveting poll. in Community Chat

Time for today's riveting poll.

gidgetgh — Thu, 26 Jan 2017 19:59:39 GMT

It's tax time again.

Our CPA files electronically for us and then gives us a paper copy and all of our 1099's and other papers back to us.

How long do you keep yours? I think the guideline is 7 years. We've always kept 10 years but I'm thinking of only keeping 7.

Re: Time for today's riveting poll.

Mominohio — Thu, 26 Jan 2017 20:04:35 GMT

Good question.

I have been pondering the same for the last month or so. considering buying a new file cabinet, and need to trim down the paper work.

I believe we have ours back to at least the early 90's. I know it is too long, but when they are out of sight, the are out of mind.

I'd be doing good to just go back 10 years!

Re: Time for today's riveting poll.

Suziepeach — Thu, 26 Jan 2017 20:07:04 GMT

LOL I've got tax stuff from the 70's, 80's and 90's... hahahahaha hey who knows, right?

Re: Time for today's riveting poll.

gidgetgh — Thu, 26 Jan 2017 20:11:05 GMT

@Mominohio wrote:
Good question.

I have been pondering the same for the last month or so. considering buying a new file cabinet, and need to trim down the paper work.

I believe we have ours back to at least the early 90's. I know it is too long, but when they are out of sight, the are out of mind.

I'd be doing good to just go back 10 years!

I bought these "cute", LOL, envelope thingys at Office Depot today to put all of my dad's tax stuff in for 2016 because I'm taking it to our CPA tomorrow to do his estate taxes.

The envelope thingys were on sale for $1.00 each so I bought 10 for us and I've been taking our tax stuff out of the bulky Manila envelopes and putting them on these things this afternoon and that's how I got on the how long do you keep them kick.

@Mominohio- get rid of some of those old ones!

Re: Time for today's riveting poll.

gidgetgh — Thu, 26 Jan 2017 20:10:11 GMT

@Smoky wrote:
LOL I've got tax stuff from the 70's, 80's and 90's... hahahahaha hey who knows, right?

Oh. My. Gosh. @Suziepeach, why do you keep them so long?

Re: Time for today's riveting poll.

deepwaterdotter — Thu, 26 Jan 2017 20:13:30 GMT

I have no experience with riveting.

Re: Time for today's riveting poll.

Suziepeach — Thu, 26 Jan 2017 20:14:23 GMT

@gidgetgh wrote:
@Smoky wrote:
LOL I've got tax stuff from the 70's, 80's and 90's... hahahahaha hey who knows, right?
Oh. My. Gosh. @Suziepeach, why do you keep them so long?

Truth be known, @gidgetgh, I don't know. I guess when they're all out of sight they're really out of mind? LOL

Re: Time for today's riveting poll.

judy0330 — Thu, 26 Jan 2017 20:17:00 GMT

Forever. And yes -- I know that there is no reason to do so!

Re: Time for today's riveting poll.

Peaches McPhee — Thu, 26 Jan 2017 20:17:47 GMT

Confession: I've got mine, from the very first one in 1976 (part time job while in high school). One day, I'll shred the bunch.

Re: Time for today's riveting poll.

Bri21 — Thu, 26 Jan 2017 20:18:45 GMT

I keep them for ten years. Once we get a new one, I shred an old one.

I don't keep a lot of paperwork around. Most of our bills are paperless

now, which cuts down on a lot of unnecessary paperwork

Re: Time for today's riveting poll.

beckyb1012 — Thu, 26 Jan 2017 20:19:31 GMT

Mine go back to 1999. I tell myself every year this is it time to shred but I just make another bit of room in the files.

Re: Time for today's riveting poll.

cancun08 — Thu, 26 Jan 2017 20:33:09 GMT

I was told by a tax expert that if you are audited, the IRS can go back 10 years on your returns. HTH.

Re: Time for today's riveting poll.

Laura14 — Thu, 26 Jan 2017 20:39:55 GMT

I have every one I've ever did somewhere in my files too.

Speaking of, I had an absolute meltdown over the "free" filing yesterday. FYI in case you're used to doing this for every year it's been available like me.

If you have an HSA account, it's no longer free. Turbo Tax and H&R Block now want $40 to submit the one extra form you are required to fill out in addition to your 1040EZ or 1040.

I am now filing on my own for free direct with the IRS. It took me a while to find that option but it does exist. The IRS site says income over $64,000 in order to use it but that's only because, if you are under that income level, they think you are eligible to file for free with these other companies and that's more convenient for you. Should be but not true anymore if you have the additional form requirement. You become unfree.

The IRS does warn that you have to be just fine doing your own taxes. It's just like the old days of reading the booklet and going through each line item step by step. If you happen to be simple like me and not have anything more complicated than a W-2, a 1099 Interest Statement, and an HSA account that requires the additional 8889 form (you write down your total HSA contributions for 2016 and you're done), check it out. You'll save yourself $40 and be free again.

Re: Time for today's riveting poll.

JaneMarple — Thu, 26 Jan 2017 20:53:58 GMT

Mine go back to the turn of the century, just in case I need them because of property that I owned and the kid's colleges.

Re: Time for today's riveting poll.,

gidgetgh — Thu, 26 Jan 2017 21:11:32 GMT

@Laura14 wrote:
I have every one I've ever did somewhere in my files too.

Speaking of, I had an absolute meltdown over the "free" filing yesterday. FYI in case you're used to doing this for every year it's been available like me.

If you have an HSA account, it's no longer free. Turbo Tax and H&R Block now want $40 to submit the one extra form you are required to fill out in addition to your 1040EZ or 1040.

I am now filing on my own for free direct with the IRS. It took me a while to find that option but it does exist. The IRS site says income over $64,000 in order to use it but that's only because, if you are under that income level, they think you are eligible to file for free with these other companies and that's more convenient for you. Should be but not true anymore if you have the additional form requirement. You become unfree.

The IRS does warn that you have to be just fine doing your own taxes. It's just like the old days of reading the booklet and going through each line item step by step. If you happen to be simple like me and not have anything more complicated than a W-2, a 1099 Interest Statement, and an HSA account that requires the additional 8889 form (you write down your total HSA contributions for 2016 and you're done), check it out. You'll save yourself $40 and be free again.

@Laura14- till last year's returns, my dad still did his by hand, with the booklet and forms. When I took all that over in late 2015, I had our CPA do them.

Re: Time for today's riveting poll.

gidgetgh — Thu, 26 Jan 2017 21:13:57 GMT

I just finished shredding my mother in law's final tax return, from 2004.

I shredded a few of ours. We now have 2008-present.

Re: Time for today's riveting poll.,

Laura14 — Thu, 26 Jan 2017 21:18:41 GMT

@gidgetgh wrote:
@Laura14 wrote:
I have every one I've ever did somewhere in my files too.

Speaking of, I had an absolute meltdown over the "free" filing yesterday. FYI in case you're used to doing this for every year it's been available like me.

If you have an HSA account, it's no longer free. Turbo Tax and H&R Block now want $40 to submit the one extra form you are required to fill out in addition to your 1040EZ or 1040.

I am now filing on my own for free direct with the IRS. It took me a while to find that option but it does exist. The IRS site says income over $64,000 in order to use it but that's only because, if you are under that income level, they think you are eligible to file for free with these other companies and that's more convenient for you. Should be but not true anymore if you have the additional form requirement. You become unfree.

The IRS does warn that you have to be just fine doing your own taxes. It's just like the old days of reading the booklet and going through each line item step by step. If you happen to be simple like me and not have anything more complicated than a W-2, a 1099 Interest Statement, and an HSA account that requires the additional 8889 form (you write down your total HSA contributions for 2016 and you're done), check it out. You'll save yourself $40 and be free again.

@Laura14- till last year's returns, my dad still did his by hand, with the booklet and forms. When I took all that over in late 2015, I had our CPA do them.

@gidgetgh Good for him!

This is actually online fillable forms I think they call them but same thing. You just type and efile instead of write and mail. I haven't actually completed it yet but I was so happy not to pay someone $40 for a 30 second fill in form.

I still do my state taxes by hand. No one will ever let me efile that for free and it's not worth the extra cost for the 5 minutes it takes me so have pen and paper, will stamp and mail for free. Well, 46 cents.

Re: Time for today's riveting poll.,

StylishLady — Thu, 26 Jan 2017 22:08:23 GMT

I'm with deepwaterdotter, but I liked Rosie the Riveter back in the day.

Our taxes are done by H&R DH. He says he keeps records for 7 years in a metal file cabinet in his den closet. He was H&R Dad for years, but when we moved here, he gave it all to each of our children.

Re: Time for today's riveting poll.

wildlifewitch — Thu, 26 Jan 2017 22:11:26 GMT

@gidgetgh wrote:
It's tax time again.

Our CPA files electronically for us and then gives us a paper copy and all of our 1099's and other papers back to us.

How long do you keep yours? I think the guideline is 7 years. We've always kept 10 years but I'm thinking of only keeping 7.

I have her email it to me, because I store them digitally.I have all of mine, but you can toss them after the cut off.

Re: Time for today's riveting poll.

pattypeep — Thu, 26 Jan 2017 22:17:06 GMT

Our accountant told us three years. I may check with her again when we see her this year and see if that's changed.