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>> lost of different accounting software you can use. your accountant can recommend some. there's fresh books. microsoft has one. there's tons of ways to make it easier. it is a good idea. >> what do you think? >> it's great advice to keep all this information for as long as you possibly can. i'm not an accountant. but there's statute of limitations on basically receipt keeping how long the irs can go back and do an audit. but the thing that's very important for the business own dmoer they need to keep all payroll and pension related information for at least ten years but really keep it indefi...

So the best bet really is to keep records of everything. you absolutely should have a copy of your taxes on hand and in print. you never know when a computer file can get corrupted? >> your receipts, ten years? >> you should. a good practice. lots of different accounting software. fresh books, intuit, microsoft has one. tons of way to make it easier, time efficient to keep all that information. it really is a good idea to keep it. >> what do you think, michael? you're shaking your head. >> no, no. keep all the information as long as you possibly can. i'm not an accountant but am playing one on...

File can get corrupted? >> your receipts, ten years? >> you should. a good practice. lots of different accounting software. fresh books, intuit, microsoft has one. tons of way to make it easier, time efficient to keep all that information. it really is a good idea to keep it. >> what do you think, michael? you're shashging your head. >> no, no. keep all the information as long as you possibly can. i'm not an accountant but am playing one on tv. but statute of limitations on basically receipt-keeping and how long the irs can go back and do an audit. important for the business owner to know, the...