Keeping records(payroll,safety,accounting & etc..)

[newwife03]

What is the name of your state? TX- How long do you have to keep your records, such as payroll, accounting and safety? The compnay is Inc. any info will be helpful. Thanks

 

[DStaub]

There are so many different types of records that any general statement is dangerous but here is some general guidance:

1. Payroll records - I found a website called Texas Workforce that lists retention schedules for various employment and payroll records.

2. Accounting records - Some accounting records can generally be safely destroyed after 3-4 years but a safer bet is 6 years. However some records should be retained for longer periods and some permanently. I found this page on an accounting firm's website that gives their suggestions.

3. Safety records - Depending upon the type of safety records, there are statutory retention periods. You should be extremely conservative in destroying any saftey records.

You can find more information by searching the term "record retention" in a search engine.

David Staub