You Need To Keep Your Property Tax Records!

I remember as a child my parents never kept any records. They did not know how important it is to keep your records. We were lucky because nothing ever happened. Now they do keep all of there property tax records. I know they keep the records for ten years just in case. I know that you only need to keep them for seven years, but the little extra will never hurt.

My parents found out through a good friend, just how important it is to keep all of your property tax records, actually all of your tax records and receipts. There friend had a business from home. He did landscaping. He was not very organized. He did a job that he loved and was good at it. He made sure to file his taxes. But he he never kept anything. I can remember his house. It was one of the cleanest homes I have ever been in. He did not have a ton of little trinkets around. He always said there was no need for clutter. I guess that he felt this way with his records. He had a filing cabinet for everything. I would think that he would use that filing cabinet to file all of his records. I was wrong. He kept records for the year, and after his taxes were complete then he would throw out all of his property tax records.

Well one year he was audited. They wanted him to produce all of his records. And because he did not feel that it was important to keep his records, he could not do that. So he had many fines that he had to pay, and to this day he started to keep his property tax records for at least 10 years to make sure that he was covered.

My parents had seen this and started to adapt this same belief. Now they are happy because they know they have everything they will ever need. When I got my first job they sat down and explained how important it was to fill out my taxes and to keep the records. So I grew up doing this. Now that my husband and I own a home we both make a point of keeping very detailed records. We make sure that in our filing cabinet we keep all of our property tax records and other tax records for at least 10 years. This way we are safe.

When it is time to sit down and do our taxes we pull out our record that is now 11 years old and we shred it. We make sure that all of our records are put into individual file folders and organized so that if we were to ever need them we can get to them quickly.

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