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Thread: shredding it!

  1. #1
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    shredding it!

    Its that time of the year!

    What to keep for 1 year

    Paycheck Stubs (You can get rid of once you have compared to your W2 & annual social security statement)
    Utility Bills (You can throw out after one year, unless you're using these as a deduction like a home office --then you need to keep them for 3 years after you've filed that tax return)
    Cancelled Checks (Unless needed for tax purposes and then you need to keep for 3 years)
    Credit Card Receipts (Unless needed for tax purposes and then you need to keep for 3 years)
    Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years)
    Quarterly Investment Statements (Hold on to until you get your annual statement)


    What to keep for 3 years

    Income Tax Returns (Please keep in mind that you can be audited by the IRS for no reason up to three years after you filed a tax return. If you omit 25% of your gross income that goes up to 6 years and if you don't file a tax return at all, there is no statute of limitations.)
    Medical Bills and Cancelled Insurance Policies
    Records of Selling a House (Documentation for Capital Gains Tax)
    Records of Selling a Stock (Documentation for Capital Gains Tax)
    Receipts, Cancelled Checks and other Documents that Support Income or a Deduction on your Tax Return (Keep 3 years from the date the return was filed or 2 years from the date the tax was paid -- which ever is later)
    Annual Investment Statement (Hold onto 3 years after you sell your investment.)


    What to keep for 7 years

    Records of Satisfied Loans


    What to hold while active

    Contracts
    Insurance Documents
    Stock Certificates
    Property Records
    Stock Records
    Records of Pensions and Retirement Plans
    Property Tax Records Disputed Bills (Keep the bill until the dispute is resolved)
    Home Improvement Records (Hold for at least 3 years after the due date for the tax return that includes the income or loss on the asset when it's sold)


    Keep Forever

    Marriage Licenses
    Birth Certificates
    Wills
    Adoption Papers
    Death Certificates
    Records of Paid Mortgages




    shredding it!-img_0960.jpg

  2. #2
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    Bound to stir up a hornets nest. Try to keep it civil folks.
    Use it, use it, use it while you still have it.

  3. #3
    the discerning hooligan
    Reputation: MOJO K's Avatar
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    Somehow thought this would be about a new Brendon Semanuk video or something.
    MERCY! MERCY! MERCY!

  4. #4
    I bike long tyme.
    Reputation: Secace's Avatar
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    Good post! Nice reminders.
    People wait for me on the way up. I wait for them on the way down.

  5. #5
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    Shredding those tires, too?
    You can't get a suntan on the moon...

  6. #6
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    Quote Originally Posted by MOJO K View Post
    Somehow thought this would be about a new Brendon Semanuk video or something.
    Same or the new Dylan Stark street MTB video which is awesome.

    https://www.youtube.com/watch?v=mZ_VtEu2zHs&t=5s
    Niner WFO9, Sunday Soundwave (BMX), Nashbar CXSS (town/workout/gravel)

  7. #7
    Cycologist
    Reputation: chazpat's Avatar
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    You forgot bikes-parts-I'll-never-use-again under the "keep forever" heading.

    Thanks for the list!
    Quote Originally Posted by Oh My Sack! View Post
    Remember, there's always quilting and knitting if pedalling becomes too tough.

  8. #8
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    And don't forget receipts for non-disclosed bike purchases must be shredded immediately after installation.
    Bicycles don't have motors.

  9. #9
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    Isn't it all in the cloud? Why keep anything?
    Do the math.

  10. #10
    mtbr member
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    Quote Originally Posted by chazpat View Post
    You forgot bikes-parts-I'll-never-use-again under the "keep forever" heading.

    Thanks for the list!
    I have a pile of those parts in my garage, and should create a 'you never know when...' bin!
    You can't get a suntan on the moon...

  11. #11
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    Quote Originally Posted by Lone Rager View Post
    Isn't it all in the cloud? Why keep anything?
    Yeah. All that stuff under the "1 year heading" is electronically available to me whenever I need it. I usually glance at it once then forget all about it.

    All the rest of the stuff on the list, if I have a hard copy at all, is shoved in a file drawer and forgotten about for, oh, 10 years or more.

    A puzzling thread for a bike forum to be sure.

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