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Freida S
2016-02-12
Love this program! I am new with it, but it makes my paralegal position ( I do public benefits advocacy) much easier in filling out forms that are not fillable on the Social Security website.
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Easy to use for 1099 filings Use for 1099s and other tax filings. Used this product for 1099 filings.. simple and easy to use except for ability to make edits (address changes etc.) once filed. Once a 1099 is filed, program does not make it easy to go back and edit a document. Also, any updated filings are charged another filing fee, which seems excessive.
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The best way to discard a pay stub or any important financial document is to shred it. If you don't own a paper shredder, you can look into a shredding service that will shred documents for you. Many communities even offer free shredding events.
First, keeping your pay stubs for every paycheck will give you an overview of how much you've earned in a period. That cuts down the amount of time spent backtracking through bank accounts. Pay stubs also evidence businesses expenses and deductions like pension payments.
In general, you should keep pay stubs for up to a year, then it's considered safe to throw them away. Make sure you properly shred them so no one can get hold of your old pay stubs and glean personal information you don't want public.
Taxes and Withholding Ensuring all the information on each pay stub is accurate is one of the most important reasons employees should check. Making sure their name, Social Security number, pay rates, paid time off balance and other information is all correct will save headaches later.
What should you do with your paycheck stub? Send it to the IRS. Give it back to your employer. Save it for your records.
Shredding Documents Credit Card Statements: Keep them for 60 days unless they include tax-related expenses. In these cases, keep them for seven years. Pay Stubs: Match them to your W-2 and then shred them. Tax Returns and Tax Receipts: Just like tax-related credit card statements, keep these on file for seven years.
Why you should ignore the can throw away bank statements after six years rule. The conventional wisdom is you only need to keep bank, credit card and other personal finance documents for six years. This is because HMRC (the taxman) can only ask you to go back that far if you're being investigated for tax purposes
If you soak your documents in water, you'll typically render them impossible to read. You can rip them up a little, drop them in a bucket or a trash bag, and just set the hose on them. They will become so soggy that they'll stick together and fall apart if you pick them up.
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