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Keeping good records is vital in business and will show most beneficial if faced with an IRS or state audit. Automated systems and cloud based storages may be a good choice.
Know what is deductible and the limits, rules and requirements when taking deductions on your tax return.
Mileage, home office, meal deductions and charitable donations need to be carefully evaluated and records should be kept safe for a minimum of 3 years.
Gambling winnings. If you receive a tax form at a casino for your winnings, that information is sent to the tax authorities. Since the form typically only contains the amount you won, save copies and records of any gambling losses.
Unemployment income. Unless specifically excluded by the federal government, unemployment income is taxable. Many taxpayers become surprised by an unwanted tax bill if federal withholdings are not taken out of these payments.