Keep good records

If the IRS or your state asks questions, your records are your proof.

• 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.

This playbook is general information, not legal, tax or financial advice. Rules change, so confirm details with a licensed professional. Last reviewed September 2026.