Organization & Recordkeeping

Good organization saves time, reduces errors, and makes tax preparation far less stressful. You don’t need perfect systems — you need consistent, workable ones.

What to Keep

• Income documents (W-2s, 1099s, contribution statements)

• Expense summaries and receipts

• Bank and credit card statements

• Prior-year tax returns and supporting schedules

Best Practices We Recommend

• Separate business and personal accounts

• Track expenses consistently throughout the year

• Use one central location for tax-related documents

• Keep digital copies when possible

Record Retention (General Guidance)

• Most tax records should be retained for at least 3–7 years, depending on the situation

• Certain documents (formation records, basis information) should be kept longer

Organization doesn’t have to be complicated — it just needs to be consistent.