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Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
Fax: 415-362-8924
Cell: 415-412-5839
Email: noel@eas-cpa.com
Website: www.eas-cpa.com
Your Business...Your Family...Our Concern
October 2018
How Long is Enough?
When it comes to records, some are more important to keep than others. If you own a business, here is a look at some records you might want to hold on to for a while.
TAX RECORDS
Keep documents that provide a record of your gross receipts, including credit card and bank statements, cash register tapes and invoices, at least seven years after your business is sold. You will also want a record of money that leaves your business, as proven by 1099 forms, checks and credit card receipts for business expenses, receipts for sales and employment taxes and more.ASSETS
If you eventually sell your business and want a record of how much you bought your business for (or put into it from scratch), keeping a record of it will be important. Also keep cancelled checks and other proof of purchases you may depreciate on your tax return and deductions taken for casualty losses.The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.