Otherwise, you'll save more tax dollars by foregoing the home mortgage interest deduction and claiming the standard deduction instead. Complete Schedule A and compare the total of your itemized deductions to your standard deduction to find out which method is most advantageous for you.
How long a patent lasts depends on the type of patent being issued and the country issuing the patent. For example, under recent changes in the laws, in the United States, patents are now granted for a term of 20 years from the date of application (14 years for design patents).
You might also want to keep any documents about real estate, business assets, stocks, bonds, or other assets you own for as long as you own them, then another three years or longer after the asset is sold, depending on your state. You'll need these records for calculating cost basis and gain or loss for capital gains tax. When It's Time to Discard