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This article was first published by the IRS and has been reproduced with permission. Subscribe to IRS tax tips here. Year-round tax planning is for everyone. An important part of that is record-keeping. Gathering tax documents throughout the year and having an organized recordkeeping system can make it easier when it comes to filing a tax return or understanding a letter from the IRS, especially when you have multiple sources of income over the year or many business expenses, as most freelancers do Good records help:
In general, the IRS suggests that taxpayers keep records for three years from the date they filed the tax return. Taxpayers should develop a system that keeps all their important information together, like a software program for electronic recordkeeping or storing paper documents in labeled folders. Records to keep:
via Freelancers Union Blog https://blog.freelancersunion.org/2021/06/23/a-better-tax-season-starts-with-good-records/
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AuthorI have 5+ years experience working as a medical transcriptionist. When I am not working, I enjoy sports like playing basketball or judo. I love making friends and connections. Archives
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