How long must I save my direct sales paperwork?
I have been in a direct sales business for the past 5 years. I have every reciept and invoice from every customer since then, plus all the reciepts and tax write-off information. It is starting to really stack up in my home. How long must I keep all this paperwork. I keep it only in case of an audit.
technically about 7yrs ... but remember "if" the IRS finds one thing out of place they can go as far back as they like... meaning you better have your paperwork in order.. why not go to walmart and get a $40 file cabinet just for this paperwork.. and then you can write it off as a business expense next year as well..
its better to be safe then sorry
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