Shred Day 2024

Privacy, Confidentiality, Safety, Security

Join us for our 2024
SHRED DAY

Saturday, April 20, 2024
8:30 to 11:30 a.m.

This complimentary service gives you the opportunity to securely dispose of/recycle those old documents, bills, statements, compact discs, videotapes, cell phones, and removed hard drives you no longer need.

WHERE:

12222 Merit Drive, Dallas TX 75251

Please enter our building’s parking garage on Clodus Fields Dr., which intersects Merit Dr. southeast of the main building entrance.

We will gather your documents and place them in the confidential shredding bins. Shredding will occur on-site that same day.

WHAT:

The following information is meant to serve as a guide for determining which documents are appropriate to retain and those that may safely be destroyed.

How long should I keep . . .

• Tax Returns? Keep seven years. The IRS has up to three years to audit your filed returns; they may go back six years in suspected fraudulent cases.
• Paycheck Stubs? Keep one year. Once you receive your annual W-2, ensure it matches up with your information and then shred your stubs. Keep the W-2 with your filed tax return.
• IRA Contributions? Keep records verifying the contribution permanently.
• Bank Records? Keep at least one year.
• Brokerage Statements? Keep at least one year. Ensure that all records of the cost basis and date of purchase of your securities in taxable accounts are maintained.
• Retirement Savings Plan Statements? Keep annual summaries while the accounts remain open. Keep for two years as a reference point after the account is closed.
• Qualified Plan Records? Keep records of all basis contributed to employer stock. This would be needed in the event you should choose to implement a net unrealized appreciation strategy upon retirement or separation of service.
• Bills? Keep one year. For purchases of more significant value (jewelry, cars, computers, entertainment systems), bills and/or receipts should be kept in your insurance file for proof of their purchased amount.
• House Records? Keep six years or permanently. All records documenting the purchase price and the cost of permanent improvements should be kept as long as you own the property. All records of expenses related to buying and selling the property should be kept for at least six years after the final sale.
• Credit Card Receipts/Statement? Keep for a month or until reconciled. Keep receipts until the monthly statement arrives. Shred the receipts if the two match up. Keep the statements if tax-related expenses are documented. Otherwise, shred the past monthly statements. We recommend retaining the annual credit card summary for the past two years, referencing any categorization of your credit card activity.
• Insurance Policies & Estate Planning Documentation? Keep originals while in force or effective.

This list may not be a complete description of the applicable documents for shredding or corresponding retention requirements.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete. Any opinions are those of Carter Financial Management and not necessarily those of Raymond James.