Reviewed by the PayStubPro Payroll Standards Team
Quick answer
Self-employed professionals should keep records of all income received, related expenses, invoices and bank deposits. Organized records make income verification and tax filing far simpler.
Core records to maintain
- A log of income by client and date
- Copies of invoices and receipts
- Bank statements showing deposits
- Expense records tied to your work
- Any 1099 or equivalent forms received
Summarizing your income
A clear income statement can consolidate what you have earned over a period. Any document you produce should reflect real payments and be kept alongside the underlying records.
Educational information only; not tax, accounting or legal advice.
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