Audit-Ready Recordkeeping NJ | What the IRS & State Really Ask For

Audit-Ready Recordkeeping NJ — What Really Matters

If you’ve ever wondered what records the IRS or NJ Division of Taxation might ask for, this guide to audit-ready recordkeeping NJ breaks it down. Hint: they care more about accuracy and consistency than volume.

Step 1: Maintain Proof of Income

Keep:

• Bank statements and deposits

• Client invoices

• Payment processor reports (Stripe, Square, etc.)

All should match your bookkeeping records and tax return totals.

Step 2: Store Proof of Expenses

Hold onto:

• Receipts and bills

• Mileage logs

• Credit card and bank statements

• Canceled checks or ACH confirmations

Digital copies are acceptable if legible and complete.

Step 3: Retention Timeline

Keep tax records for at least 7 years and payroll records for 4 years. NJ may extend requests beyond federal guidelines.

CPA Tip:

Being audit-ready in NJ isn’t about keeping every scrap of paper — it’s about maintaining well-organized, categorized data your CPA can verify instantly.

Stay Prepared, Not Panicked

Let’s make sure your records are audit-proof.

Book a Free Consultation → with Gregory Monaco, CPA LLC for a professional review of your recordkeeping and compliance systems.