![]() ![]() Additionally, if you have claimed certain deductions, such as a home office, or paid business expenses with check or credit card, you need to hang onto those bills, receipts, and statements for three years. These include sales records for real property medical bills, and insurance policies that have been cancelled. Many types of documents have a three-year “shelf life.” You save these papers primarily as evidence in the case of an audit or dispute. Records of loans that have been repaid in full should be kept for seven years, as should income tax returns and any papers (cancelled checks, receipts, etc.) documenting deductions or income. As a result, the cost basis can sometimes be computed only if you have the complete transaction history.Īgain, you may be able to retrieve some of this information from your investment firm, but if you have switched firms or brokers, the original investment documents may be difficult to access. For a mutual fund with 30 years of reinvested dividends, each dividend payment is part of the cost basis. ![]() You are responsible for reporting the cost basis of any security you sell to calculate the capital gains tax. Some of these documents are replaceable, but not without significant time and effort, and many people trying to retrieve birth certificates, for example, are dismayed to discover that records (or the buildings that house them) can be lost forever.įorbes recommends you “ keep brokerage statements indefinitely” for taxable accounts. If you have paid off a mortgage, you should keep that record indefinitely. ![]() These include birth certificates, adoption documents, marriage licenses, partnership documents, deeds and titles, wills, and death certificates. Let’s start with the papers you should really hang onto and keep safe, in a safety deposit box or other secure location. Being better organized means you have reduced chances of missing payments, made your job easier job to do at tax time, and avoided some dings on your credit score.īut if “keeping financial records” means tossing everything in a cardboard carton, or if throwing away a single ATM receipt makes you sweat, here are a few organization guidelines that could help: #260 1164113 Academy Mortgage ** Michael Pena 21 211 N 1604 E.While fighting off a rising tide of paper cannot solve all your financial woes, it can certainly make a difference. SOUTHEAST TEXAS HOUSING FINANCE CORPORATION LENDER LOAN OFFICER PHONE ADDRESS EMAIL NMLS# Academy Mortgage ** Cody Grizzoffi 83 601 Sawyer #660 Houston, TX 77007 293460 Academy Mortgage ** Sally Guerrero-RedHigh Timbers Drive #200 176514 Academy Mortgage ** Gary HenHigh Timbers Drive #200 271367 Academy Mortgage ** Jon CorbCommercial Center Blvd #103 Katy, TX 77494 1282342 Academy Mortgage ** Andrew SteinbrecCommercial Center Blvd #103 Katy, TX 77494 209302 Academy Mortgage ** Sadaf SulSweetwater Blvd #675 Sugar Land, TX 77479 180986 Academy Mortgage ** James Hadley 93 14729 Highway 105 West #180/190 Montgomery, TX 77536 316466 Academy Mortgage ** Lori Schmitt 21 211 N 1604 E. ![]()
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