While new tax returns are often stored online, there's a good chance that your old tax statements are physical papers, especially if you've been running your business for a long time. You may have set up a backup on the cloud, but holding on to these old records is often vital for business audits and appraisals in the future. This guide equips you with some sharp efforts to protect your business tax statements in storage.

Consider Storage Units With Interior Temperature Controls

Your old tax statements are likely paper documents, which can get affected over time by external environmental circumstances like moisture, light, humidity and temperature conditions. Extreme moisture can trigger the growth of mould and mildew, which could ruin your tax statements quicker than normal. Too much light results in evaporating ink. With so many factors to keep in mind, you may want to consider storage units with interior temperature controls to protect your tax statements from damage. Button controls keep humidity and temperatures constant inside, which will protect your tax statements from deterioration.

Elevate Your Tax Papers To Prevent Them From Getting Wet

No matter what type of storage unit you choose, there's always the risk of walls and floors becoming wet over time, especially when located on lower levels. Floods from heavy rains are real threats in several parts of Australia, so the best thing to do is to place your tax papers on top of stands to elevate them from the ground level. In the event of water or excess moisture in the storage unit, your tax statements will remain damage free and well protected for a long time.

Employ The Option Of Video Surveillance

Tax papers and statements for your business are often confidential and can only be viewed by a few people privy to your business. You have the option to restrict access and can employ video surveillance to ensure that these documents don't go into the wrong hands when you're not around. Video surveillance also enables you, as the business owner, to keep track of any person accessing these tax statements at any time, allowing you to take corrective action if unauthorised personnel are going through your confidential papers. Many storage units also offer real-time remote surveillance, so you can now keep track of your tax statements and other confidential business papers on the go.

If you need to protect your tax statements and other confidential papers from deterioration or unauthorised access, be sure to follow these strategies to protect the interests of your business in the long run.