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It is the policy of Gamma Financial Services to handle the information you provide us with the utmost confidentiality and care. We restrict access to nonpublic personal information about you to members of our firm who need to know this information in order to complete the work you have hired our firm to do. We will not disclose your personal and confidential information to anyone outside our firm without your express permission to do so. We maintain physical, electronic and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

Tax returns can generally be audited for up to three years by IRS and four years by CA after filing and up to six years if IRS suspects under reported income. It is wise to keep tax records at least five years after a return is filed. Requirements for records kept electronically are the same as for paper records. Generally, follow these recommended periods for various documents.

Tax Returns - Permanent
Audit Reports – Permanent
Expense Records – 5 years
AP/AR – 5 years
Loan Payment Schedules – 5 years
Sales Records – 5 years

Construction Records – Permanent
Leasehold Improvements – Permanent
Real Estate Purchases – Permanent

Tax Returns – Permanent
W2s – 5 years
1099s – 5 years
Cancelled checks supporting tax deductions – 5 years
Bank deposit slips – 5 years
Bank Statements – 5 years
Donation documents – 5 years
Credit Card statements – 5 years
Investment purchase – Ownership period + 5 years
Year- end brokerage statements – Ownership Period +5 years
Mutual Fund annual statements – Ownership Period + 5 years
Investment Property purchase documents – Ownership Period + 5 years
Home purchase documents – Ownership period + 5 years
Home improvement receipts & cancelled checks – Ownership period + 5 years
IRA non- deductible contributions (Form 8608) – Permanent
Divorce Documents – Permanent
Loans – Term of loan + 5 years
Estate Planning Documents - Permanent