Tax Services

Eads and Associates has skilled professionals ready to assist you in making wise and ethical choices for your personal and business taxes.

The length of time you should keep a document depends on the action, expense, or event the document verifies. Generally, you must keep records that verify items of income or deductions on a tax return until the "statute of limitations" for that return runs out. The "statute of limitations" is the time you are allowed to amend your tax return to claim a credit or refund, or that the IRS can assess additional tax.

It is recommended that you keep all tax records for a minimum of seven (7) years. Some records should be kept indefinitely. For more detailed information, please use one of the links below.

General Information Site - IRS (Navigates away from Eads site)
Recordkeeping for Individuals - IRS Publication 552 (Opens new window - PDF File Download)
Starting a Business and Keeping Records -IRS Publication 583 (Opens new window - PDF File Download)
Travel, Entertainment, Gift, and Car Expenses - IRS Publication 463 (OPens new window - PDF File Download)