![]() ![]() Which business receipts do I need to keep?Īccording to the IRS, “Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare your tax returns, and support items reported on your tax returns.”Īnd that they do. But no matter if you’re a brand new sole-proprietor or the proud proprietor of an S-Corp, good recordkeeping means hanging on to your receipts.īut which receipts should you keep? And in what form? And for how long? We’ll answer all those questions in this post. It’s easy to let them spin out of control. ![]()
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