Which Financial Documents Should You Shred and Which Should You Keep?
The old “death and taxes” adage is simple but accurate. In reality, we spend many hours gathering financial information. Then, it’s compiled into some semblance of organization for filing. Actually, we repeat the scenario year after year. Florida and the rest of the country have something in common.
It’s that taxpayers often receive their tax records in paper form. After this, it gets filed away. Accordingly, tax records are to be retained for three to seven years. At that time, they are cleared to be destroyed.
Yet, the static storage time leaves sensitive information vulnerable to loss, damage, or identity theft. Keeping records safe is critical. Consequently, one of the best ways to ensure ultimate safety is document shredding. However, don’t just enlist the help of a document shredding service.
Instead, a smart strategy is to be aware of which documents to keep for future use and which to shred. At the same time, establish an efficient organizational system. This includes cloud storage, digital, and hard copy.
Of course, some documents should be stored in perpetuity. These are documents you might need at various times. Thus, they should be kept in a secure location:
- Academic Records
- Birth Certificates
- Baptism Certificates
- Military and Medical Records
- Employment Records
- Retirement Records and Social Security Cards
- Marriage Certificates
Many of your Florida personal or business documents are used once. Perhaps, they include private information. As such, when you no longer need them, they can be shredded:
- Bank Statements
- Canceled or Voided Checks
- Credit Card Bills or Applications
- Copies of Birth or Marriage Certificates
- ATM Receipts
- Investment Records
- Medical Records
- Property Records, Tax Forms
- Any Receipts with Account Numbers
Temporarily Stored Documents
Still, other documents should be stored for a specific time period. Yet, not forever. You might need to reference them. Maybe, it’s once a month, weekly, or yearly. After which, they can be shredded:
- Bank Statements (one month)
- Bills (store until paid and then shred)
- Credit Card Bills (shred when paid)
- Investment Records (shred seven years after an account is closed)
- Paychecks and Stubs (shred after one year or until the arrival of that year’s W-2)
- Tax Documents (shred after seven years)
Now, you have amassed a pile of shred-ready documents. Therefore, it’s time to partner with a reliable and professional shredding service. In doing so, you’ll ensure efficient and verified destruction. Then, the company will send the remains for recycling into new paper products. Thus, it completes the circle.
LOOKING FOR FLORIDA DOCUMENT SHREDDING?
ShredQuick is a trusted shredding partner. In fact, they service hundreds of businesses looking to safely and efficiently discard old documents.
Call us directly at 866-750-5617. You’ll receive a free quote for purge shredding services in your area.
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