How long should I keep bank statements?

How long to keep certain documents, according to a guide compiled by Bankrate.com:

Income tax returns — up to seven years. The Internal Revenue Service has three years to audit a return over good-faith errors and six years if your income was underreported by 25 percent or more.

Records of IRA contributions — permanently. The documents will prove you paid tax on your nondeductible contribution when you finally withdraw money.

Statements for retirement and savings plans — one year to permanently.

Bank records — one year to permanently. Keep those related to taxes, mortgage payments and business expenses; destroy the others after a year.

Credit card receipts and statements — 45 days to seven years. Keep receipts to check against your monthly statement; hang on to the statements if you document tax-related expenses.

Pay stubs — one year. Use them to ensure the figures on your W-2 are accurate.

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Online: http://www.bankrate.com/finance/personal-finance/how-long-to-keep-financial-records.aspx.

State law requires lights on carriages

I had the unfortunate experience of almost colliding with a mule-drawn carriage on Shell Beach Drive.

It was dark and there were no lights visible on the animal or the front of the carriage.

I noticed some rides have front and back lights. Shouldn’t lights be displayed for both ends for all carriages?

Yes.

Under state law — R.S. 32:316 — animal-drawn vehicles must have at the front “at least one lamp displaying a white light visible from a distance of not less than 1,000 feet,” along with two similarly bright red lamps at the rear.

The vehicle must also feature “two red reflectors visible from a distance of 100 to 600 feet to the rear,” as well as a slow-moving vehicle emblem.

The carriage lamps, like the headlights on cars, must be illuminated between sunrise and sunset and when weather conditions call for light — for example, in the rain or fog.

The penalty for people who violate the lighted-lamp statute — R.S. 32:301 — is a fine of up to $25. The law says the offense isn’t a moving violation.

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Online: www.legis.la.gov.

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The Informer answers questions from readers each Sunday, Monday and Wednesday. It is researched and written by Andrew Perzo, an American Press staff writer. To ask a question, call 494-4098 and leave voice mail, or email informer@americanpress.com.