What to Keep for Taxes

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To file taxes accurately, keep payroll stubs, 1099 forms, W2s, receipts for everything that was spent and a record of any currency gains or losses. Put all tax information in ledger form to make it easy for the IRS to read with advice from a financial adviser in this free video on doing taxes.

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Video Transcript

Are you ready to do your taxes for 2008? Hi, this is Roger Groh, of Groh Asset Management. Today, we're here to talk about what you ought to keep, in terms of your records, so that you can provide the Internal Revenue Service, an accurate picture of what you've earned, and whatever write offs that might exist. A few key documents, number one, keep your payroll stubs. Number two, take your 1099s. Number three, take your W2s. Number four, keep all your receipts for everything that you spent, and last, but not least, keep a record of any currency gains or losses, that you might have experienced during the year. Even though you may not have sold that, you can still recognize them for a loss. Other idea, put it in ledger form, make it easy for the IRS to read it, and make sure it's all dated. Hope that helps. I'm Roger Groh, with Groh Asset. Thank you very much for spending time with me.

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