We are in the middle of a great purge as we close our custom furniture business. We sold off most of our major tools on Saturday and today we packed seven years worth of business records into my CR-V to take to the shredder.
Of course, since it had been a while since I purged business records, I had to call my accountant and ask how to keep business records so I didn’t purge too many of them.
The answer is 7.
Keep the previous 7 years worth of business records.
Seven seems to be the magic number today. Apparently, it has been 7 years since I purged my files because I had boxes labeled 2003, so that last time I did this was in 2010. Don’t be like me. Purge every year!!