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Tina, Attorney
Category: California Employment Law
Satisfied Customers: 33166
Experience:  JD, 17 years experience & recognized by ABA for excellence in employment law.
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How long do you need to retain paper copies of financial records,

Resolved Question:

How long do you need to retain paper copies of financial records, e.g., receipts, bills and other expense-related items?
Submitted: 4 years ago.
Category: California Employment Law
Expert:  Tina replied 4 years ago.
Hello and welcome,

There are various state and federal retention requirements with regard to employee records.

Here is a link that sets out these retention requirements:

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Customer: replied 4 years ago.
That was pretty good, however, it focuses more on personnel records than financial records. My question has to do with paper records of expenses. We save records in QuickBooks, but do we need to retain paper backup such as bills, payments, etc.
Expert:  Tina replied 4 years ago.
This would involve IRS retention requirements. You should normally retain all paper documentation and electronic files substantiating expenses taken for a period of 6 years or more.

Here is a link that provides more information:,,id=98513,00.html

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