The beginning of a new year (or new decade) is a great time to update your files. What to keep and what to purge?  Can you shred old car insurance policies or credit card statements? How long should you keep payroll stubs?

The resources listed below will provide general guidelines on the length of time to retain specific documents for your home or small company. If you have more specific questions, please consult your accountant or tax advisor.

Record Keeping for Individuals, IRS Tax Publication 552

Managing Household Records, The Federal Citizen Information Center, Pueblo, CO

Emergency Preparation File, The Smead Manufacturing Company

Starting a Business and Keeping Records, IRS Tax Publication 583