Suggested Record Retention Guide for Businesses
Isn’t it such a great feeling heading into the new year being prepared? All the clutter is cleaned out of the office, the filing cabinets and desk drawers now have room for the 2016 documents, your desk is squeaky clean once again! It’s like a weight has been lifted off of your chest and you can look 2016 in the face and say “Oh yea, I’m ready!”, but wait….are you ready? Have you cleaned out those cluttered desk drawers and filing cabinets yet or is that daunting task still hanging over your head? We know it can be overwhelming not knowing which papers to keep or which ones to shred. That is why we have created a reference guide for businesses. With this reference guide you will be ready for 2016 in no time!
It is extremely important to hold on to business records in the case of an IRS audit or other type of examination. However, retaining unnecessary records take up valuable storage space that could be made available for more important documents.
We at James Hamlin & Co. have put together a general business record retention guideline to help you determine which documents you should keep and which ones are okay to shred. We hope you find this reference helpful. Please contact us if you have questions or uncertainties about destroying any tax documents or accounting records. Records Retention Guide for Businesses