Track personal and business expenses by keeping separate bank accounts, using dedicated business credit cards, documenting each expense’s purpose, and allocating mixed-use costs proportionally. Use accounting software to automate categorization and maintain compliance.

Record all cash transactions daily, including date, amount, purpose, and customer info. Keep receipts, use a cash log, reconcile regularly, and report large payments over $10,000 using Form 8300.

Organize business receipts using digital tools like QuickBooks or physical filing by year and category. Keep records for at least 3 years, separate personal/business finances, and back up all data for audit readiness.

Organize business receipts using digital tools like QuickBooks, categorize by expense type, and keep records for at least 3 years. Separate personal and business finances for clarity and audit readiness.

Keep business tax records for at least 3 years from filing or due date. Employment taxes: 4 years. Property records: as long as owned, plus 3 years. Some cases require 6+ years or indefinite retention.

Keep detailed records for all business deductions: receipts, invoices, mileage logs, and documentation showing amount, date, purpose, and business relationship. Retain for at least 3 years.