Good Recordkeeping Helps Avoid Headaches at Tax Time
IRS Short Video on Keeping Records for Taxes
Small business owners are responsible for maintaining the company records. Keeping the financial and employment-withholding records for 4 or more years may be necessary depending on your circumstances. Always check with your tax adviser for specifics to your circumstances.
IRS Publication 583 – Starting a Business and Keeping Records – contains useful business startup information. The section about record keeping starts on page 11. It includes info on paper/hard-copy records as well as electronic records.
