It all depends. For example, the U.S. Department of Labor requires employers to preserve payroll records for at least 3 years. The IRS has other periods of retention for various purposes. When you dispose of records containing business data (e.g., old bank statements), tax information, and other sensitive information, shredding is probably the best way to do it. The UPS Store is offering a 25% discount on shredding through April 19. #IdeaoftheDay
Check out the new blog post and the online supplements for the tax books!
