What records should I keep for tax purposes?
An example of an AI chatbot conversation about tax record-keeping essentials.
What records should I keep for tax purposes?
You should keep records of your income, expenses, receipts, and any documents related to deductions or credits.
How long should I keep these records?
Generally, it's recommended to keep tax records for at least three years after filing your return.
Are there any specific documents I need to keep?
Yes, keep W-2s, 1099s, bank statements, and any receipts for deductible expenses.
What if I have digital copies of my records?
Digital copies are acceptable as long as they are clear and legible. Just ensure they are backed up.
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