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Electronic Records Must Pass This Test

Many businesses are moving to computerized recordkeeping systems for efficiency. However, the law is clear: All requirements for hard copy records also apply to electronic records. The either/or dilemma is often between the convenience of digital and the security of paper. A Safe system provides both.

If you go digital, your system must be able to: produce legible records that can verify the entries on your tax return; index, store, preserve, and retrieve your electronic records easily; and provide a complete and accurate record that is accessible to the IRS. You can destroy original hard copy records only if your electronic storage system meets specific IRS requirements. This proactive approach builds a Safe and sound foundation for your business.

Ready to build your bulletproof business recordkeeping system? Read more on this topic by visiting https://www.safesimplesound.com/build-your-business-recordkeeping-system/.

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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.

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