You can click here to hide this list of properties if desired. 1  Delightful Beachfront Grand Cayman: Kaibo Yacht Club: Condo in a complex. 2 BDR. 2  Rest and Relaxation in our Grand Cayman: Castaways Cove: Condo in a complex. 2 BDR. 3  Cayman Brac, 1 Bedroom Cayman Brac: Carib Sands Beach Resort: Condo in a complex. 1 BDR.
Still, you'd be surprised at how much you can safely discard. Here is what you should keep and how long you should keep it. Three Years. Keep your federal and state income tax returns and related receipts and statements for at least three years. If you are audited, the IRS reserves the right to review tax returns filed during what is known as the period of limitations, which is generally the past three years from the date you filed your most recent tax returns.
Except in a few cases, the law does not require any special kind of records. However, the business you are in affects the type of records you need to keep for federal tax purposes. How long should I keep records? The length of time you should keep a document depends on the action, expense, or event the document records. You must keep your records as long as needed to prove the income or deductions on a tax return.