Small Business Expense File

It’s tax time! If you have a small at-home business, and you are scrambling to gather the information you need for your taxes, make sure that next year will be easier by setting up a simple filing system.x men origins movie

Our suggested system for a Small Business Expense File will require:

  • Seven durable accordion file folders (one for each of 7 years),
  • each with 12 labeled pockets (a pocket for each month)
  • A durable file container that fits seven accordion files

And then it is as simple as 1, 2, 3:

  1. File all paid business expenses by month.
  2. At the end of your fiscal year, simply present the accordion file to your accountant. When your accountant is done, you’ll get your file back. Archive it in your file container.
  3. After seven years, simply recycle your first file-folder, as you no longer need to keep its contents accessible.

It couldn’t be easier, and now, armed with your Small Business Expense File, you’ll never have that voice at the back of your mind saying, “What if I’m audited?”

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