Page 5 - Senior Times South Central Michigan - March 2016 - 23-03
P. 5

Senior Times - March 2016
Page 5
IMPORTANT PAPERWORK: SCAN AND SHRED
If you’re like most people, you have
boxes of old records cluttering your closets that you’d like to clean out but don’t know what you need to keep, and for how long. What most of us do is keep it all just to be safe. Realistically however, many records can be retrieved online now and if you know that to be true then those can go... but you might want to shred them first. Others can be scanned and kept electronically as well.
"If in doubt, don’t throw it out," is a com- mon phrase used for many things but when
it is applied to caregivers and their elderly parents’ paperwork the following suggestions might helpful in condensing the piles.
Tax returns and supporting documents:
Anything to do with taxes should be kept for at least seven years. The IRS has three years from your filing date to audit your return if it suspects good faith errors and you have the same amount of time to file an amended return if you find a mistake. However, the IRS has six years to challenge your return
if it thinks you underreported your income by 25 percent or more. If you fail to file a return or filed a fraudulent return, there is
no limit on when the IRS can come after you. Specific items you should keep in addition
to your tax returns themselves include documentation of income, alimony, charitable contributions, mortgage interest, retirement plan contributions, and any other tax deductions taken.
Medical bills and records: Keep all medical bills and supporting documentation such as cancelled checks or credit card statements until you are sure that the bill has been acknowledged as having been paid in full by you and/or your insurance company. If you are deducting unreimbursed medical expenses on your tax return, keep all supporting documentation as discussed above. Remember to keep all health-related bills including dental, eyeglasses or contact lenses, hearing aids, and over-the-counter medications, to name a few.
Retirement plan statements: Keep the quarterly statements until you receive the annual summary and if everything matches up, you can shred the quarterly statements. Keep the annual summaries until you close the account.
IRA contributions: If you made an after-tax contribution to an IRA, you will need to keep your records indefinitely to prove that you already paid tax on the money when it is time to make a withdrawal.
Brokerage statements: You must keep these until you sell the securities covered by them to prove whether you have capital gains or losses for your tax return. If you hold stocks or bonds for many years, you will need to keep the statements. The exception
is if the cost basis and date of acquisition
is listed on the statements. In this case, you
only need to keep the year-end statements to support your tax return.
Bank records: Keep any checks
or statements related to your taxes, business expenses, home improvements, or mortgage payments.
Bills: Keep bills until you receive the cancelled check or credit card statement showing that your payment was received.
Be sure to keep bills for big purchases
like jewelry, furniture, art, appliances,
cars, computers, etc. so that you can prove the value of these items to your insurance company in the event they are lost, stolen, or destroyed in a covered disaster such as a fire.
House/condo records: Keep all records documenting the purchase price and the cost of all improvements, as well as records of expenses incurred in selling and buying the property for seven years after you sell it.
Credit card receipts and statements:
Keep original receipts until your
statements come and then match them up. You can then discard the receipts. Keep the statements for seven years if they document tax – related expenses.
Paycheck stubs: Keep until you
receive your annual W-2 form from your employer(s) and make sure the information matches. If it doesn’t match, request a corrected W-2 from your employer(s).
Using the above suggestions, you should be able to clear out the bulk of your saved paperwork and then establish a system for keeping up with things over time.
Remember, you can obtain many of these documents in electronic format, or you can scan them and archive them electronically. Be sure to shred documents rather than just throw them out.
Professional help is available if needed.
CITY
Nashville Delton
Union City
Battle Creek Albion Marshall Battle Creek Homer
Michigan Center Jackson Jackson
LOCATION
Main St. Banqets
Faith United Methodist
FACILITATOR
Jenny Burlison Elayne Nottingham
PHONE DAYS
(269) 852-9182 M-F (269) 623-5400 M,W,T
TIME
10:30am-1pm 10:30am-1pm
SENIOR DINING CENTERS
BARRY COUNTY
Hastings
COA Building
Mary Cook
(269) 948-4856
M-F
10am-2pm
Woodland
Eagles Club
Joyce Dennie
(269) 367-4041
M,W,F
10:30am-1pm
Meals provided by Barry County Commission on Aging. A program sponsored by Barry County United Way.
Union City Fire Station Rusty Hampton (517) 741-7212 M,T,TH,F 10:30am-12pm
Lunch served at 12pm
BRANCH COUNTY
Coldwater
Branch County CAA Office
Tamara Wittbrodt
(517) 278-8249
M-F
9am-1pm
Lunch Served at 12pm
Meals provided by Community Action Food and Nutritional Services. Funding sources AAA 3C, Branch County United Way, USDA and private donations.
CALHOUN COUNTY
Albion
Albion Senior Dining Center
Cynthia Rose
(866) 200-8877
M,W,F
10:30am-1pm
Lunch served at 12pm
Bedford Manor Dining Center Clarence Dining Center Marshall House Dining Center Westbrook Place Dining Center Homer Presbyterian Church
Burdell Wells
Sharon Rice
Bablynn Squires Michelle Dove
Senior Health Partners
(866) 200-8877 (866) 200-8877 (866) 200-8877 (866) 200-8877 (866) 200-8877
M,W,F 10:30am-1pm M,T,W 10:30am-1pm M,W,F 10:30am-1pm M,W,F 10:30am-1pm T 10:30am
Lunch served at 11:30am Lunch served at 11:45am Lunch served at 12pm Lunch served at 11:30am Whole Person Wellness too
Lunch served at 12pm
Lunch served at 12pm
Lunch served at 12pm
Battle Creek
Cherryhill Manor Senior Center
Constance Siegel
(866) 200-8877
M,W,F
10:30am-1pm
Lunch served at 11:30am
Battle Creek
Lakeview 900 Dining Center
Karl Hoard
(866) 200-8877
M,W,F
10:30am-1pm
Lunch served at 11:30am
Battle Creek
Springview Towers Dining Center
Caroline Oberlin
(866) 200-8877
M,W,F
10:30am-1pm
Lunch served at 11:30am
Battle Creek
Northside Senior Dining Center
Deboraha Sallee
(866) 200-8877
T,W,Th
10:30am-1pm
Lunch served at 11:30am
Tekonsha
Tekonsha Community Hall
Senior Health Partners
(866) 200-8877
T
10am
Whole Person Wellness too
Meals provided by Senior Services. Funding by Calhoun County Senior Services, AAA 3B, USDA and private donations.
JACKSON COUNTY
Jackson
Crouch Senior Center
Michelle Rose
(517) 788-4364
M,T,W,Th,F
8am-4pm
Lunch served at 12pm
St. Aidan’s Episcopal Church
Park Forest
Word of Light
Nikki Soli
Lynn Walker
Nancy Behling
(517) 764-2950
(517) 787-9750
(517) 782-7755
M,W,F 10am-2pm
M,T,W,Th,F 10am-1pm
M,T,W,Th,F 10am-1:30pm
Norvell
Norvell/Township Hall
Gail Jamieson
(517) 536-4370
M,W,F
10am-1pm
Lunch served at 12pm
Spring Arbor
Spring Arbor Senior Center
Bev Greene
(517) 750-1010
M,T,W,Th,F
8:30am-2:30pm
Lunch served at 12pm
To have your senior dining center added, Call Sherii at (269) 979-1412 ext. 302 or Email: ssherban@wwthayne.com


































































































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