Records Retention: How long do we need to keep them?

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Organizing, filing, and retaining old records is a burden for many businesses, not to mention individuals. As we move into a more “paperless” society, how do we determine what warrants taking up valuable office and storage space and what does not?

Records should be preserved only as long as they serve a useful purpose or until all legal requirements are met. To keep files manageable, it is a good idea to develop a schedule so that at the end of a specified retention period, certain records are destroyed.

At Stockman Kast Ryan + Co., we have developed a Records Retention Schedule we think you will find helpful. Although it doesn’t cover every possible record, it does cover the most common ones. As always, please feel free to ask us should you have specific questions or concerns.

SKR Tax Record Retention Schedule (Click Here)

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