Happy New Year everyone! Important notice to everyone who files W-2’s and Form 1099’s – these Forms must now be filed with the government by January 31 each year. Penalties are significant for not filing by this date. Please let me know if have any questions.
For whatever reason tax record retention is a mystery to most taxpayers. I get asked all of the time: “How long should I keep my tax records?” The answer is at a bare minimum seven years for most records such as bank statements, receipts, and other supporting documents. However, copies of your tax returns and [...]