Most people assume they must keep their utility statements for 7 years - the number of years recommended to keep your tax returns. Do you know how much paper that adds up to?
Utility statements such as those for your: Water, Sewer, Electric, Gas, Cable TV, Direct TV, Phone, Cell Phone, DSL, etc... can all be eliminated after the bill is paid, unless of course there is a way that you can deduct any of these on a tax return for a home-based business and therefore you would need to save as supporting documentation for your tax return.
I am asked often: "Do I need to shred these documents?" These documents do not contain information such as your social security number - so unless you want to protect your Name and Address (which is public information), then you do not need to shred them. It really is a matter of your personal comfort level.
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