Keep receipts that support tax deductions for three to seven years.
The Internal Revenue Service can randomly audit your return up to three years after the filing date or if it suspects you made an error.
That deadline extends to six years if it believes you underreported income by 25 percent or more.
Thank you all. I was specifically referring to access not backups. Lots of different thoughts on this topic!
Sorry Iām late to this discussion, as I just got back from vacation. We (my wife and I) keep ALL our documents in icloud and dropbox folders. That includes tax returns, medical records, medical records, etc.
We encrypt everything with our private advanced encryption standard (aes) key. The documents are easily accessible anywhere we are (as long as we remember they key!).
Which tool do you use for encryption?
