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© 2019 Trout | James & Associates, P.C.

News & Updates

February 1, 2017

What to keep and how long to keep it

Tax records should be kept on a year-round basis, not hastily assembled just for your annual tax appointment. Without tax records, you can lose valuable deductions by forgetting them on your tax return, or you may have unsubstantiated items disallowed if you are audited.

Generally, returns can be audited for up to three...

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