Financial records important to keep include: 1. Account books for a record of income and expenditures, for reference and comparison. 2. Bank statements as documentation for income tax deductions. 3. Canceled checks sorted and saved by those needed for income tax deductions and proof of important payments. Keep checks for tax purposes at least five years. Keeping check registers could fit into the category of account books, but if information is not complete—i.e., listing all your expenditures and income—they can be discarded. We would like your feedback on this Personal Finance Frequently Asked Question.

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