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What do I need to keep?

I was told that I should keep all my receipts. Does this mean grocery receipts, and all? Every little trip to the store? For how long? What should I keep, and what can I toss? Trying to make room for baby...

Answer Question

Asked by Anonymous at 1:38 PM on Sep. 17, 2010 in Money & Work

Answers (8)
  • Why are you keeping them? Is there a reason or just because you should keep them? I don't keep all the little reciepts I keep my check stubs and all the bill stubs.

    Answer by Cindy18 at 1:42 PM on Sep. 17, 2010

  • keep them for what?

    Answer by peanutsmommy1 at 1:42 PM on Sep. 17, 2010

  • Unless you think you will be paying more in sales tax than income tax, why bother? I have seen people keep track of ALL the sales tax they have paid throughout the year, and it seems quite tedious to me. I would keep receipts for things, untill you are 100% sure you are keeping the items, but other than that, I don't see why you would need to keep receipts.

    Answer by JGRIMMER at 1:45 PM on Sep. 17, 2010

  • I keep receipts for major purchases, but for other things, only if there's something I think I might need to return.

    Answer by SWasson at 1:46 PM on Sep. 17, 2010

  • If you are keeping them for tax purposes, you can keep them for one year and then turn them in with your taxes. The best thing to do is to scan them into the computer and put them in folders by month and type of receipt if that is why you are keeping them. :)

    Answer by Memigen at 1:49 PM on Sep. 17, 2010

  • If you pay by charge card, you should keep all your reciepts. Just to make sure the charges match your statement.

    Answer by zbee at 1:59 PM on Sep. 17, 2010

  • Who told you this and why? They would be the person to ask this question to. We don't have enough information to give you a good answer.

    Answer by HotMama330 at 3:37 PM on Sep. 17, 2010

  • Yes your supposed to keep all of your receipts for 7 yrs...... Due to our tax audit few yrs back i learned all the thing that you don't think you'll need you will one day..... We had to find back medical cards ( the paper kind from the state)... Dr. prescriptions Dr. notes outta the medical files, church or school they belonged to, they even wanted birthday card envelopes with their name on it with our address .... long story made short you need some of it... and to answer your question.. i would keep all medical records bills ( medical cards ) just in case.. food , daipers clothes receipts ... hope this helps Goo:D luck

    Answer by meNmine at 10:00 PM on Sep. 17, 2010

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