The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Do you keep every receipt?||Date: 8/9/2004 11:20 AM|
|Author: TMFPMarti||Number: 72775 of 120476|
We'd like to know what other people do with their every-day purchase receipts.
Cash = Trash, unless I need the receipt for warranty, return, or tax purposes. After trashing my grandmother's 60 year old cancelled checks when cleaning out my parents' house, I'm trying to take some pity on those who will clean out mine.
Charge receipts go in the charge receipt slot in the desk pending reconciliation with the statement, to which they're stapled.
Debit card receipts go in the debit card receipt slot in the desk pending reconciliation with the statement, after which they're trashed.
Paid bills go in this year's box, with tax items highlighted.
When I go through this year's box to do the taxes, anything that won't possibly be needed, e.g. utility statements, is trashed.
I keep five years' boxes, currently 2000-2004. Come January I'll trash everything from 2000 except the tax return (goes to the "Prior Year Returns" box), put a 2005 label on the box, and we're in business for another year.
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