Small Business Recordkeeping: Build the System Before You Need It
Separate business and personal activity
Dedicated business accounts make transactions easier to identify and records easier to organize.
Capture transactions consistently
Electronic accounting systems can be used when they provide complete, accurate and accessible records.
Keep supporting documents
Invoices, receipts, deposit information and payroll records support entries in the books and amounts reported on tax returns.
Planning point: Tax outcomes depend on individual facts and circumstances. This is educational information, not individualized tax advice.
Primary source: IRS guidance
Build the strategy before the deadline.
Talk with Integrity about how these rules may apply to your situation.
Schedule a Consultation
Talk with Integrity about how these rules may apply to your situation.
Schedule a Consultation