Comments on: How long should I keep paid medical bill stubs? http://www.newstrailer.net/finance/how-long-should-i-keep-paid-medical-bill-stubs We Trail The Business News and Report Tue, 22 May 2012 05:12:21 +0000 http://wordpress.org/?v=2.2.1 By: mbrcatz http://www.newstrailer.net/finance/how-long-should-i-keep-paid-medical-bill-stubs#comment-12550 mbrcatz Tue, 13 Oct 2009 05:32:06 +0000 http://www.newstrailer.net/finance/how-long-should-i-keep-paid-medical-bill-stubs#comment-12550 Well, I certainly would keep it at least 7 years. I had a bit of pricey dental work done in my early 20's, and about 6 years later, the dentist started rebilling me for it. I had the cancelled checks, but they turned it over to a collection agency anyway. Once I sent the agency copies of the cancelled checks showing I'd paid it, it went away. So me, I don't throw out cancelled checks or receipts - ever. Well, I certainly would keep it at least 7 years.

I had a bit of pricey dental work done in my early 20’s, and about 6 years later, the dentist started rebilling me for it. I had the cancelled checks, but they turned it over to a collection agency anyway. Once I sent the agency copies of the cancelled checks showing I’d paid it, it went away.

So me, I don’t throw out cancelled checks or receipts - ever.

]]> By: acermill http://www.newstrailer.net/finance/how-long-should-i-keep-paid-medical-bill-stubs#comment-12549 acermill Mon, 12 Oct 2009 22:00:40 +0000 http://www.newstrailer.net/finance/how-long-should-i-keep-paid-medical-bill-stubs#comment-12549 Of course, if you used any of these bills as an income tax deduction, you DO want to hang on to them for several years, as proof of your expenses, should you happen to be audited. Otherwise, there is no need to retain them as long as you have. What do I do with such items, since I operate multiple rental units ? They are scanned and saved to PDF files. At the end of each fiscal year, the copies of receipts are simply burned to a CD and carefully put away. You'd be amazed how easy it is to store CD's instead of all that paper. Of course, if you used any of these bills as an income tax deduction, you DO want to hang on to them for several years, as proof of your expenses, should you happen to be audited. Otherwise, there is no need to retain them as long as you have. What do I do with such items, since I operate multiple rental units ? They are scanned and saved to PDF files. At the end of each fiscal year, the copies of receipts are simply burned to a CD and carefully put away. You’d be amazed how easy it is to store CD’s instead of all that paper.

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