Digital Recordkeeping: Why It’s More Important Than Ever
The IRS is encouraging small businesses to transition to digital record-keeping. That means less paper, more organization, and better compliance.
What’s Changing?
Under Section 7805, the IRS emphasizes the importance of maintaining accurate digital records for deductions and credits. This is especially important for industries like retail, transportation, and online services.
Why It Matters
Digital records make it easier to:
Track expenses
Prepare for audits
Claim deductions with confidence
If you’re still using paper logs or spreadsheets, now’s the time to upgrade.
What You Can Do
Choose a digital tool: Look for apps that track income, expenses, and receipts.
Back up your data: Use cloud storage or external drives
Train your team: Make sure everyone knows how to use the system
Final Thoughts
Digital recordkeeping isn’t just about convenience; it’s about compliance. Help your audience make the switch with tutorials, templates, or reviews of tools.
Source: Stratax Consulting: Tax Compliance Updates
Legal Disclosure:
CompliantHer™ program of (Relannford Enterprises LLC) is not a law firm. This document is intended for educational and informational purposes only and does not provide medical, legal, or financial advice. If you have questions about your specific situation, please consult a physician, attorney, or accountant licensed to practice in your state and/or country.
Affiliate Disclosure:
Some of the links in this course are affiliate links, which means that at no additional cost to you, CompliantHer™ (Relannford Enterprises LLC) may earn a commission if you decide to make a purchase after clicking through the link.
