like OP i keep paper copies but i sort them.... some papers you want to
keep for longer (real estate etc) but some like pay stubs you don't
(especially if you get paper copy that shows the whole year..... and of
course the amount of paper depends on the complexity of your holdings/
taxes/ business.
i'm in the process of doing another mass purge.... like you i have 3 piles:
keep, shred, toss. i used to save all my receipts til tax auditing time ran
out.... i'm not doing that anymore. my grocery receipts aren't relevant to
my tax situation....
yes issues like off site for paper matter too, but we all choose our risks.
good luck. it's not an easy process.
- ph
~:~:~:~:~:~:~:~:~:~:~:~:~
paula hendricks ~:~ san francisco CA ~:~ 415.310.1168
On Wed, Nov 6, 2024 at 9:01 AM Adam Funk <a24...@ducksburg.com> wrote:
> On 2024-11-06, Tom Balazs wrote:
>
> > How do you store all the paperwork related to your bookkeeping? Sorry if
> > this is a bit off topic.
> >
> > I now file all incoming (bookkeeping related) paper mail in a series of
> > 3-ring binders. Occasionally, I move older statements to an "archive"
> > folder and store them in another room. I don't really want to put an ugly
> > 3- or 4-drawer filing cabinet in this room. But, my collection of
> "current"
> > financial folders is becoming unwieldy.
> >
> > I try to avoid all the go-green, switch to digital statement appeals
> > because I get so much junk in my email that it's hard to find the
> > relevant/important stuff. I like getting statements etc. as paper mail.
> >
> > I could scan documents, but I would be hesitant to throw out my paper
> > documents, because of the risk of digital data loss (computer failure,
> > etc).
>
> IMO it's much easier to make offsite backups of digital documents than
> paper ones.
>
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