Guide
Keep records that make tax time painless
Build the habit of record-keeping that turns filing season into a formality, not a scramble.
Keep every income and expense record as it happens
This connects directly to your bookkeeping habits, records kept weekly are already in shape for tax time, records reconstructed later rarely are.
Store documents somewhere organised and backed up
Use a dedicated folder structure or your bookkeeping software's document storage, not a scattered mix of email attachments and photos.
Know how long you need to keep records
Retention requirements vary by location, check locally, but a common safe default is to keep full records for several years after filing.
Do a light review before deadlines, not a full rebuild
If records have been kept consistently, the pre-deadline review should be a check for completeness, not a reconstruction project.
That’s the whole thing.
Keep going
What to read next
- 01
Taxes & Compliance Basics
Understand the taxes your business may owe
Get a general sense of the kinds of taxes businesses typically deal with, so nothing catches you off guard.
- 02
Taxes & Compliance Basics
Set aside money for taxes as you earn
Build the habit that means a tax bill is never a surprise you can't afford.
- 03
Taxes & Compliance Basics
Know when to bring in a professional
Recognise the moments where a DIY approach to finances stops being worth the risk.