Everything You Need to Know About Taxes

Record Keeping for Taxes
► What do I need to keep for tax reasons?
It is a good idea to keep all of your receipts and any other records that you may have of your income and expenses...
► How should I separate and organize these?
It is advantageous to categorize your expenses...
► How long should I hold onto these documents?
It is recommended that you keep these documents for three to seven years...

► How long should I keep old tax returns?
If you are audited, it is very likely that the auditor will ask to see the last few tax returns...
► What other records should I keep?
If you purchased goods that you plan to sell later, you should keep the receipts to calculate your gain or loss on it correctly...
► What recordkeeping system should I have?
If you are an employee of a company, your system needn't be complex...

Education Expenses
If you have further questions, please don’t hesitate to reach out to us.