Tuesday 27th of June 2017 8:45:16 PM

  • Securing Tax Records

    Tuesday 18th of September 2012 10:09:51 AM

    Here are simple ways to safely secure tax records:

    1. Besides the old school way of photo copying bank statements, tax returns, insurance policies, receiving copies, letters/notices from IRS, etc., these supporting records can now be stored electronically. Paper documents can be scanned into an electronic format then stored in backup storage devices such as cd, dvd, flash disk or an external hard drive.

    2. Make a secondary copy or backup even with records that were sent electronically. As much as possible, utilize the technology at hand. One example is by doing a simple print screen capture in the computer. In this way, records sent and communicated can be physically validated.

    3. The original tax records should be stored away from its duplicates or backup copies for security purposes.

    4. Those things of higher value in the house should be documented. Photos or video clips of the house valuables can be used in filing for insurance or casualty loss claims.

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