Sure monetary paperwork you possibly can maintain on to, “however you possibly can let go of a variety of paperwork. And doing so will free you of all that paper and, maybe, fear,” mentioned Michelle Singletary at The Washington Put up. When you get your W-2 you possibly can throw away the paycheck stubs, besides the ultimate stub that has a yr’s price of data. For prescriptions you possibly can hold “for a minimum of a yr in case there’s a dispute about cost.” You possibly can shred the month-to-month financial institution statements as banks present end-of-year info yearly. You may as well toss out utility payments except you want them for tax deductions. For tax returns, hold the previous seven years in case there’s an audit from IRS. “Lastly, if you’re not sure of what to maintain, scan it.” (washingtonpost.com)
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