What is in accountant’s permanent fileThis is a legacy web site and some information may be out-of-date. For more recent information and postings, seewww.tonynovak.com/cpa.
What is an accountant’s permanent file?
by Tony Novak, CPA, MBA, MT April 29, 2015
Accountants keep a number of reference documents for each client in addition to current and annual information life a tax file or other accounting work. This is a list of what might be included. Of course not all items apply to every client and the list may vary over time. Thanks to accountant Ed Mendlowitz for assembling most of this list.
This may seem like a lot of documentation but today’s secure online document management systems make it an easily manageable situation. The toughest part, it seems, is determining which documents are applicable in your specific situation.
See the article “How Long Should I Keep Tax Records?” for more information on retention of your own financial records.
Opinions expressed are the solely those of the author and do not represent the position of any other person, company or entity mentioned in the article. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Tony Novak operates as an independent adviser under the trademarks “Freedom Benefits“, “OnlineAdviser” and “OnlineNavigator” but is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. He has no financial position in any stocks mentioned. Novak does work as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to other companies including the companies listed in the articles on this web site.