Eads and Associates has skilled professionals ready to assist you in making wise and ethical choices for your personal and business taxes.
Whether we like it or not, today's tax laws are complicated, and the filing of a relatively simple return can quickly become overwhelming. It is just too simple to overlook deductions and credits to which you are entitled. Even if you use a computer software program, there's no substitute for the assistance of an experienced tax professional. With this in mind, we at Eads & Associates Inc. bring all of our expertise to bear to provide a complete and accurate tax return that utilizes the advantages available to you and/or your business under current law.
The length of time you should keep a document depends on the action, expense, or event the document verifies. Generally, you must keep records that verify items of income or deductions on a tax return until the "statute of limitations" for that return runs out. The "statute of limitations" is the time you are allowed to amend your tax return to claim a credit or refund, or that the IRS can assess additional tax.
It is recommended that you keep all tax records for a minimum of seven (7) years. Some records should be kept indefinitely. For more detailed information, please use one of the links below.
General Information Site - IRS (Navigates away from Eads site)
Recordkeeping for Individuals - IRS Publication 552 (Opens new window - PDF File Download)
Starting a Business and Keeping Records -IRS Publication 583 (Opens new window - PDF File Download)
Travel, Entertainment, Gift, and Car Expenses - IRS Publication 463 (OPens new window - PDF File Download)
Social Security Administration - The Social Security Administration can assist with retirement, Medicare, disability, survivorship, and other benefits questions.
U. S. Department of Labor - The U. S. Department of Labor fosters the welfare of job seekers, wage earners and retirees of the United States. The Department administers a variety of Federal labor laws including those that guarantee workers' rights to safe and healthful working conditions; a minimum hourly wage and overtime pay; freedom from employment discrimination; unemployment insurance; and other income support.
U. S. Small Business Administration (SBA) - The SBA was created in 1953 as an independent agency of the federal government to help Americans start, build and grow businesses. Its website provides a wealth of information for entrepreneurs and small business owners.