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.
How long your organisation needs to keep it's records. Your organisation must hold all records for seven years, even if you cease operating (except for incorporated organisations that have been wound up and dissolved).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.