KEEPING RECEIPTS

Churches

How long should records be kept?

 Incorporation documents should be kept forever.  W-2's and payroll records should be kept forever.  All other receipts, statements, bills, check stubs, etc. should be kept for six years.

How long should receipts be kept?

 Receipts, statements, bills, check stubs, etc. should be kept for six years.

Pastors

How long should receipts be kept?

 W-2's should be kept forever, and all other receipts, statements, bills, check stubs, etc. should be kept for six years. Any receipts relating to capital expenditures or improvements (home improvements) should be kept for 6 years after the sell of a home.

 How long should tax returns be kept?

 The front 1040 and Schedule SE should be kept forever, and all back-up to the tax return for six years.