Should I save EVERY single electric/internet bill?

[BBW_SammiSins]

When it comes to writing off taxes, I know you can only write off a % of your electric and internet bill.
But I was wondering do I need to save EVERY single bill for the year? My electric bill goes up and down, but internet stays the same.. I should just be able to give them some and them estimate it right? =x

 

[Evvie]

When it comes to writing off taxes, I know you can only write off a % of your electric and internet bill.
But I was wondering do I need to save EVERY single bill for the year? My electric bill goes up and down, but internet stays the same.. I should just be able to give them some and them estimate it right? =x

Meh, I'd just save it. I have a folder where I stash all my bills anyway, and it's easy enough to just stick it somewhere and forget about it. It seems like a fairly good idea to hold on to those statements anyway in case something adult happens.

Or, you might try talking to your electric company and see if you will be able to get old statements at the end of the year.

Alternatively, if you have the option of paying online, your account should be keeping track of all your statements and perhaps you could print that out in one document.

 

[Rose]

I have a folder where I save every single bill regardless. I keep sections for internet, cable, electric, rent, etc. and just stick them in every month so they're organized from oldest (in the back) to newest (at the front).

 

[Megaclit]

You can be audited up to 7 years after you file taxes, by the IRS or Revenue Canada, and that's typically how long people used to hang onto their paper bills. But these days, all this information is available electronically, and that is acceptable to both agencies.

 

[Rose]

All of my e bills get saved forever because they come through my bank. They automatically file and save them for me for later. If you get any e bills, chances are they're either saved in your email or bank account depending on how you receive them.

 

[MrRodry]

We are told to save them for five years here. The quality of some bill's paper are so bad that they don't last after one month! :lol: