What business records do I need to keep for my small business? -

I have a small boutique where I sell clothes jewerly etc at a space I am renting out. What kind of records to I need to keep for tax purposes? I buy my clothes from wholesalers, do I need to keep track of how much I buy from them as well as how much I sell?

yes, keep all of them two file folderone for revenueone for expensethat when you take revenue-expense==gross profit margin if the number is positive, business is goodif number is negative, you are in trouble.

Check the IRS web site. Basically you need a record of what you sold and what you purchase. A log of car millage.