Keep good records

Ongoing: Stay compliant and grow. Step 23 of 24 in the new LLC launch playbook. If the IRS or your state asks questions, your records are your proof. Key points: - Keep receipts, bank statements, invoices, contracts and tax returns in an organized digital folder. - The IRS generally says to keep tax records for at least three years, and some records longer. Ask your accountant for your list. - Keep your LLC documents (formation, operating agreement, EIN letter) for the life of the business. Tip: Back up to the cloud.

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