As your business grows keeping track of your finances will grow increasingly difficult. Pay roll, insurance, and expenses are only a small part of the complex maze that is the US tax code. Both parties want to simply the tax code, but they can’t seem to agree on any changes so I wouldn’t count on a radically simplified tax code being unveiled anytime soon. Having a high speed scanner can help you stay organized and make tax time much easier.
If you scan and copy pertinent tax documents like receipts and W-2 forms you run less of a risk of losing them. Once these documents are scanned you can save them in PDF form so even if originals are lost or destroyed you have extra copies. Some companies go so far as to make digital copies and destroy hard copies for security reasons. Once you have digital copies you can easily email them to tax professionals and accountants.
Leasing an office copying machine is in and of itself a tax write-off. Technically these machines qualify as a material business expense. Talk to a tax account about specially how this deduction works as it will vary depending on business size, industry and state. A copying machine may end up saving you money in more ways than one.