The following is provided for informational purposes only. The information below may not apply to your specific situation so always consult an attorney. Use of this information does not create an attorney-client relationship between you and the Law Office of E.C. Lewis, P.C..

What records should I keep as a business owners?

There are three general areas you should keep records for:

  • general business purposes
  • tax purposes
  • employment purposes

Each of these are discussed in detail in this article.

What records should I keep for general business purposes?

The records you should keep depend a lot on your business.  For all businesses, it is important to keep copies of the following:

  • Entity formation documents (i.e. Articles of Incorporation)
  • EIN application (Form SS-4)
  • Colorado Business Registration (Form CR0100)
  • Applications for insurance
  • Insurance documents
  • Loan applications
  • Loan documents
  • All contracts
  • Applications for permits
  • Permits
  • Applications for licenses
  • Licenses
  • Information about any taxes collected (i.e. sales tax, liquor taxes, etc)
  • Employee information (see information on employment information needed below
  • Tax information (see information on tax records below)

Depending on your business, there may be additional documents you need to keep.  For instance, if you have a car repair business, you may need to keep records for the disposal of oil.

For the full article on what documents you need to keep, including for tax and employment purposes and information about the Law Office of E.C. Lewis, P.C.’s services, please contact Elizabeth Lewis today.