July 24, 2026, Issue #49
I have a confession.
I am not very good at deleting files.
There. I said it.
I am much better at organizing them, putting them into folders, and thinking, “I might need this someday.”
And sometimes, I do.
But eventually, “I might need this someday” can result in a computer filled with files from five, ten, or even fifteen years ago.
So, how long should you keep your business files?
Unfortunately, there is no magic number that applies to everything.
Financial and Tax Records
This is one area where you need to be particularly careful.
In Canada, businesses are required to keep certain records and supporting documents for specific periods of time. This can include financial records and documents related to your tax returns.
If you are unsure about how long you need to keep a particular financial or tax record, check with your accountant or tax professional before deleting it.
You may also choose to keep some financial records longer so you can look back and compare how your business has changed over the years.
Have your expenses increased? Has your income grown? Which services have become more profitable?
Sometimes, old financial records can tell you a lot about your business.
Client Files
Client files can be a little more complicated.
You may have invoices, contracts, correspondence, and records of purchases or payments.
Some of these may need to be kept for financial, legal, or contractual reasons.
But that does not necessarily mean every piece of client information should be kept forever.
If you no longer have a legitimate reason to keep certain information, it may be time to securely dispose of it.
And if you do keep client information for an extended period of time, make sure it is stored securely and backed up properly.
What About Everything Else?
Not every file has the same value.
A contract may be important for years.
An old business plan may be useful to look back on.
That 2017 draft of a social media post?
You can probably let that one go.
If you have a folder called New Folder, containing New Folder 2, containing Miscellaneous, containing Old Stuff…
We may have found a good place to start.
Before deleting anything important, ask yourself:
- Do I still need this?
- Is there a legal, tax, or business reason to keep it?
- Could I need this information again?
- Do I have a backup if it is important?
If you are unsure about financial, tax, legal, or privacy-related records, check with the appropriate professional before deleting them.
There is no single answer to the question, “How long should I keep this file?”
But keeping every file forever is not a filing system.
It is just a very slow-growing digital junk drawer.
And eventually, even your computer may start asking, “Do you really need all this?”
Quote
“We must accept finite disappointment, but never lose infinite hope.”
Martin Luther King, Jr.