How Long to Keep Paycheck Stubs

14 Apr

There may be various reasons that would make you want to keep paycheck stubs. The first thing that will I ir necessary is because they are proof of your income. When you are renting an apartment, one way of proving that you can raise the needed rent is by showing a copy of your income. You will also need a copy of your paycheck stub when you are filing your tax returns. While it is to your benefit to have a thorough record of your financial record, it is also important to reduce clutter by making sure you discard what you no longer need.

What is most important is to make sure you can tell what of the many records you are likely to use again and then discard what will no longer be useful. The following information will help you in knowing what you may need to keep and what you may need to discard. That will help you keep your file clean and less bulky.

The best thing with the current technology is that digital filing is making work easier. You can store the information in your paycheck stub without necessarily taking any physical space. The cloud-based solution offers users the ability to store a large amount of information in a more affordable way and also one that reduces the use of physical filing space. With this new technology you can store so much information without looking like you are tiring your computer. That means it is not likely o fill the storage space with just pay stubs. Check this website about pay stub.

On the other hand it does not mean that you should keep a copy of all your paycheck stubs from the day of employment to the day you retire from the organization. That is why you need to identify which of the many records should you keep and for how long to keep paycheck stubs. You will still need to delete absolute files even after you have kept them for a long time.

There are specific guidelines on what to file and what to throw away. With paycheck stubs you may need to keep them for at least one year. After that you may want to replace them with the most recent ones. You will also need to use your bank statements together with paycheck stubs. When you are seeking a loan, the financiers will need to see your paycheck subs together with your statement for a specified period and it will be good if you can provide that easily.Retrieving the information that is well files will not be complicated. Know more on how long to keep paycheck stubs.

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