Document Retention: What to Keep and For How Long

posted by Jeff Garrison on Friday, August 19, 2016

In the previous post we discussed some decision making criteria as it regards what documents a small business should retain and for how long before disposing of them.  This was on my mind because I recently purged several boxes of old business documents. (By the way, I will have little of this to do in future years because I save everything electronically structured in such a way to make "destruction" easy when the time comes.)

To provide some guidance, the Better Business Bureau has compiled a one page Records Retention Schedule (click here) based upon IRS requirements and recommendations.  However, this list is by no means exhaustive and your circumstances may be unique. Also, legal and regulatory requirements do change, so check with your attorney, CPA, HR professional, or other advisors if you have questions.

To see a demo of a paperless system of records retention that is easy for everyone in your company to use consistently, click here.

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