When it comes to running a successful small business, there are numerous tasks owners must perform. One important job is to maintain tax and financial records. Granted, this can be overlooked in the day-to-day grind of running a business, but it’s vital when it comes time to prepare and file financial statements and tax returns. Maintaining supporting business documents is critical in the tax arena. Purchases, sales and payroll will generate supporting documents, which include paid bills, invoices, receipts, deposit slips and canceled checks. Together, these documents are used to prove the legitimacy of the items on the company’s tax return. Contact us if you need help with business records. © 2024