People now get one to two hours less sleep each night, on average, compared to 60 years ago. A primary reason for this is the proliferation of electronics, which also allows us to work (and play) later than ever before.
The Internal Revenue Service requires that individuals be able to produce records proving any income, deductions or credit claimed for at least three years from the date of a return, the statute of limitations for how long the I.R.S. has to assess additional tax if all income was reported correctly.
What records your organisation needs to keep. You have to keep sufficient records to calculate the income, expenses and GST liability of your organisation, and to enable us to confirm your accounts if necessary. The records you must keep are: 1  receipt and payment account books. 2  bank statements.3  invoices (including GST tax invoices). 4  receipts.or GST you do not need to hold a tax invoice for items costing less than $50, but you do need to maintain a record of such payments. For income tax, you should have invoices for all expenses, whatever the amount.