Tax Lawyer's Blog

California tax blogger Mitchell Port writes about the top six things the IRS wants you to know before starting a new business:

I especially liked #4:

 Good records are necessary. Which record keeping system is suited to your business is up to you so long as it shows your income and expenses. Except in a few cases, the law does not require any special kind of records. However, the business you are in affects the type of records you need to keep for federal tax purposes.

Mitchell is a good tax blogger especially on issues affecting Californians (and there’s no shortage of those these days).

I have added him to my feed reader.

You should, too.

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