When it comes to important papers, there are several you should always keep in a safe place. Discover here 5 important papers you should keep in your safe.
But what are the most important documents to have in your safe at home?
Keep reading to learn about the five most important documents you should keep safely at home.
1. Tax Returns
Your annual tax returns are important to keep for a few reasons. At the top of this list is your chance of being audited, when you will be expected to produce your tax returns and supporting documents. However, the IRS only has three years to perform an audit, so after that time you can discard the supporting documents and retain only the tax return itself.
Tax returns are also frequently used as proof of income for large purchases, like home loans, so keeping them safe means an easier application process should you decide to apply to a bank.
You may also choose to keep your pay stubs along with your tax returns for proof of income. If you don't receive pay stubs because you're a freelancer or business owner, you can always use an online service to generate one, like this fillablepay stub free PDF.
If you want to travel anywhere outside of your home country, you'll want to make sure you have a passport. Before traveling, make sure to make copies of it and keep them in your safe as well in case you lose your passport while away. It will make replacing this important document a little easier.
Taking a copy of your passport with you when you travel means you can carry the copy in your wallet in case you get detained or questioned and leave your actual passport in a safe at your hotel to avoid losing it.
3. Your Will
While your official will is kept with the attorney who helped you draft it, you'll receive several copies. Keep one of these in your safe and consider keeping the second in either a safe deposit box or with a trusted friend or family member.
4. Birth Certificates
You should have a birth certificate for each member of your family in your safe. Making copies to keep in your home binder or files is also a good idea, both as a backup in case the originals are misplaced and in case you need to quickly access the information without digging through your safe.
5. Social Security Cards
Carrying your social security card around is a good way to have your identity stolen. Keep your social security cards safely locked up at home and only carry it on your person when you need it, such as when you start a new job.
The Important Papers You Should Have at Home
Keeping these important papers in a safe at home means you'll never be without them and have them when you need them for important business and life events.
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