 filing paperwork (by JM [CA]) Jul 5, 2018 10:18 AM
 filing paperwork (by JB [OR]) Jul 5, 2018 10:32 AM
filing paperwork (by JM [CA]) Jul 5, 2018 10:58 AM
filing paperwork (by AllyM [NJ]) Jul 5, 2018 11:06 AM
filing paperwork (by JM [CA]) Jul 5, 2018 11:28 AM
filing paperwork (by Moshe [CA]) Jul 5, 2018 12:02 PM
filing paperwork (by Robert J [CA]) Jul 5, 2018 1:40 PM
filing paperwork (by Patrick [VA]) Jul 5, 2018 5:02 PM
filing paperwork (by JM [CA]) Posted on: Jul 5, 2018 10:18 AM
Message:
State Specific Question About: CALIFORNIA (CA)
What paperwork must you keep on file and for how long? --99.108.xxx.xx |
filing paperwork (by JB [OR]) Posted on: Jul 5, 2018 10:32 AM
Message:
Why don't you be a little more specific JM. Are you referring to paperwork for applicants/leases or are you referring to tax documents? --50.45.xxx.xx |
filing paperwork (by JM [CA]) Posted on: Jul 5, 2018 10:58 AM
Message:
DO I NEED TO KEEP APPLICATIONS AND LEASES FROM FORMER TENANTS? Do I need to keep all receipts, even regular PG&E, water bills, etc.
When can the old paperwork be discarded? --99.108.xxx.xx |
filing paperwork (by AllyM [NJ]) Posted on: Jul 5, 2018 11:06 AM
Message:
Everything. Seven years. --73.178.xxx.xx |
filing paperwork (by JM [CA]) Posted on: Jul 5, 2018 11:28 AM
Message:
Thanks. I was afraid of that ! Oh well..... --99.108.xxx.xx |
filing paperwork (by Moshe [CA]) Posted on: Jul 5, 2018 12:02 PM
Message:
" Oh Well"
You don't need to keep any of that stuff until you need it.
Then, you will either be glad that you have it, or sorry that you don't have it.
--47.139.xx.xxx |
filing paperwork (by Robert J [CA]) Posted on: Jul 5, 2018 1:40 PM
Message:
I evicted a tenant for non-payment of rent. Once out he reported to the IRS that I rent out garages to non-tenants for cash and pocket the money. This is a large complex and we are talking about a lot of money.
The IRS then audited me and "demanded" all of my records for the past 20 years.
I told them that I will NOT COMPLY. I'm not interested in a fishing expedition. If they want to know something, they have to be specific.
Of course I issue receipts to anyone who pays in cash. I showed the IRS my leases that show which tenant gets a garage and who doesn't. Also who I rented it to, their lease, application, credit check and rent receipts -- going back since I purchased the property almost 30 years ago.
WITHOUT THOSE RECORDS, my goose would have been cooked! --47.156.xx.xx |
filing paperwork (by Patrick [VA]) Posted on: Jul 5, 2018 5:02 PM
Message:
JM...I started using a fujitsu scan snap. It scans both sides of a document in just 3 or 4 seconds. It even saves it as a searchable PDF file.
Now everything rental related gets scanned. Applications, receipts, repairs everything. I store it on the computer by year and property address. It really makes doing my taxes easy.
I also upload files to a cloud account I purchased so that I can pull up a document that I need from anywhere that has a computer. --96.249.xxx.xx |
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