How long should I keep a cash confirmation?

The time you should keep a cash confirmation usually depends on the item or items on the acceptance and the purpose of this confirmation. For example, income for small purchases that do not intend to use taxes for deductions should usually be kept until you are sure that you will not return the items to accept. However, if you have revenue for the main purchases, you may want to keep them longer, especially if the items are under warranty. If you have cash reception with items you use or have used to deduct tax, you should usually leave them up to six or seven years. The amount of time you should leave this kind of confirmation often depends on the items on the confirmation and the reasons you want you to want to keep it. If you only have small purchases for admission, such as items below $ 100 (USD), you should usually only keep the document until the return time for these items or until the items have expired. For example, a cash cash proof would beIt was supposed to keep it only until you are using food items.

If you have cash reception with larger purchases, such as a confirmation of an electronic device that costs more than $ 100, you can leave it throughout the warranty for this item. This allows you to prove that you have purchased an item or item, although this is not always necessary for warranty for all items. You can also use cash confirmation as proof of purchase if you need to return the product in the return on the company you purchased from.

cash revenues with one or more items you use as a deduction for your taxes should usually be kept longer than the warranty period. In most situations in the US, you can be audited by Internet Revenue Service (IRS) up to three years after tax administration, although some situations may allow an audit of up to six years. This means you should leave cash confirmOutline for any items you claim as a tax deduction for up to six or seven years, in the case of an audit.