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MBE QuickBooks Tips

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BY DAILENE FRY-MALACINA — CLIENT ACCOUNTING SERVICES MANAGER, CERTIFIED QUICKBOOKS PRO ADVISOR

“How long do I need to keep tax records?” This is a question we frequently get asked this time of year.

Personal and Business tax returns should be kept indefinitely, but most of the supporting paperwork (canceled checks, medical bills, loan records-after payoff, etc.) only need to be kept for 7 years.

For a full schedule of Record Retention, click here.