Own a Small Business? Your Old Records Could Be Worth More Than You Think

Old small business records may help substantiate tax deductions, establish asset values, and support a future business sale. However, sensitive documents should be securely stored or destroyed according to applicable retention requirements. brizmaker/Shutterstock

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What if years of business records you’ve been storing could help you generate income before retirement? Most business owners think of old invoices, financial statements, emails, and customer records as paperwork they need for taxes or occasional disputes. However, some established businesses may be sitting on another opportunity: historical operating data that companies are willing to pay to use.