The Ferguson Group LLC retains your information you sent us and copies of returns prepared by us for five (5) years. We do this using a paperless system that stores the information electronically. We will return to you all paper information you provide to us to prepare your returns.
You are responsible for maintaining proper records to prove items on your tax return. You should keep all of the information you provided us, any backup documentation for the information you provided to us, and copies of your tax returns for 6 (six) years. This would include bank statements, invoices, receipts, check copies, payroll records, worksheets, etc.
You should keep information for any asset or investments you own for 6 years after you dispose of the asset. This information would be what you paid for the asset (invoice copy, stock report, closing statement, etc).