What the files?!
If you’re a business owner or an independent contractor, odds are you have a lot of files...maybe..A..LOT...of files…and other items, such as equipment that take up valuable space in your office.
As a rule of thumb for businesses of any size and/or for independent contractors, a sufficient amount of time to hold onto or store files for potential tax audits, lawsuits and otherl claims is a whopping seven years.
SEVEN YEARS of lugging around all of those papers and trying to keep them well organized in a secure but accessible location.
Many articles produce some form of “file” that needs to be archived or stored until they reach that seven-year mark that many don't realize is actually important to hold on to.
This list of items or files may include, but are not limited to:
Equipment Receipts
Printers
Fax Machines
Break room appliances
Office furnishing
Desks
Computers
Office chairs
Tables
Filing Cabinets
Hand Trucks or “Dollies”
Parts for a company trade
Tools
A/C Equipment etc.
Employment contracts
Tax Forms
Copies of Employee Identification Information
Drivers License
Passports
Social Security Card or Number
Company Purchases
Printer paper and other office supplies
Gas for company vehicles
Toilet paper for customer and employee restrooms
Office decor
Business Contracts
Contracts between Business and Client
Contracts between Business and other businesses
Advertising
Marketing
Long term services enlisted by another company to assist in the running of the existing company
Business Agreements
Typically used when two companies work together on a project
Prophet sharing
Co-Developers or contractors
Even smaller purchases for tax right offs such as:
Company luncheons or office lunch parties
Beverages
Food or snacks
Plates
Napkins
Cutlery
Company Dinners
Reward to employee
Company plan or action discussions
Humble attempts at landing a client
Employment incentives
Company raffles
Gift cards or bonuses
Holiday perks
Turkey to key employees or employees that hit certain achievements for Thanksgiving
Christmas gifts to employees and their families
Birthday cards or items
The list can go on and on...the fact that there are SO many things that can fall under the broad term of “files”, this makes your list of archives vastly exponential. So, building off of that, this must mean that with all of these files stacked together and packed into boxes, physically it must look like a paper form of Mt. Everest and have you wanting to pull your hair out.
At first, these files may be manageable, several businesses usually have a closet or room in their office dedicated to storing their files in or even choose to store them at their home for ease of access, especially if their office is far from their residence.
However, as time goes on, more money is spent, more contracts are signed, more employees are hired and so on and so forth. Meaning that these files will grow rapidly and still require that seven-year minimum of archiving.
Which begs the question...WHERE DO I PUT ALL OF THESE PAPER FILES?!
The answer to this question is renting a storage unit!
Simply rent a storage unit in the size you require to store your files. The more files you have, the larger the unit you need, however, if you’re a smaller business with a smaller file load, then you need not waste money on the extra space! You can find comfort in the fact that the storage facility has many sizes to offer to fit your company needs!
The unit is easily accessed whenever you need to pull or view your files, is completely private and is only accessible by the individuals you choose to allow access to, and is entirely safe under lock and key, inside of a gated facility, watched by security guards and cameras at an affordable price!
Keep all of the files you need to obtain your seven-year archiving mark, free up space in your home or office, and have easy accessibility to any form, contract, receipt or agreement you may need!
