How long should one keep billing records?
This is for personal records not for a business.
I was once told three to five years but this seems to be just a waste of space as any disputes would have occurred already. If that 3-5 years only for tax info or should all bills be kept for that long?
By: Benji Man
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Published by: admin on September 2nd, 2009 | Filed under Keep Tax Records
2 Responses to “How long should one keep billing records?”
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September 3rd, 2009 at 11:01 am
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My memory is hopelessly unreliable but I think it was Sam Goldwyn of MGM whose newly appointed secretary was tidying the files and asked if she could remove documents that were 3-5 years old. Goldwyn told her no. She asked “what about documents more than 5 years old?”. Goldwyn said “Keep them!”
September 5th, 2009 at 11:19 am
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Bills such as electic, phone, credit cards, etc. need only be kept until you recieve the next bill, legally they cannot make you responsible for errors (yours or theirs) not caught within the current billing cycle. Tax records not included.