If you think your corporate relocation in New York City is done once you’ve moved your belongings into your new space, think again. You’ll also have to clear out your old space and make sure it’s left in a “broom swept” condition. This means you can’t leave anything behind, or you’ll be slapped with fees and premiums for the extra work that your landlord will have to do before being able to find a new tenant. If you want to avoid the fees but you don’t have the time or capability of cleaning out your old office, then you need office liquidation services .
You can’t just abandon your old office once the important stuff is gone, but you might not be able to get back there and clean it out, either. Office liquidation is the process of breaking down any cubicles and furniture left behind, getting rid of the clutter and garbage, and handling the cleanup. It’s also a service that many office relocation companies offer. Leases typically mandate that the space is left in a “broom swept” condition, so the space should look like it did when you first saw it.
Getting off the ground can take time for a small business that’s just starting up, but moving to a business improvement district can help. This kind of relocation in New York City helps businesses, customers, and the community as a whole. Watch this video and find out what business owners should know about NYC’s business improvement districts.
New York City’s business improvement districts aim to enhance the community by bringing all aspects of it together. Small businesses, residents of the area, and property owners all stand to benefit in their own ways. Businesses get more attention from prospective customers as well as the ability to network with other owners, property owners can fill vacant spaces with incoming businesses, and shoppers can buy products from local vendors who live in the community. Customers tend to create stronger bonds with business owners when they know they live locally, so the neighborhood thrives.
Keeping records is an essential part of doing business, but it can also be confusing and even burdensome to small businesses, who are already trying to juggle demanding workloads. Although you can’t skip your records keeping responsibilities as a business owner, you can find effective ways to manage them. Here is what you need to know about business record retention in NYC for your small company.
Retain the Source Documents
Ideally, the records you keep should be the original, source documents, rather than copies. For financial records, this means keeping canceled checks, cash register tapes, credit card slips, and financial statements from your bank. Corporate documents, such as meeting minutes, property mortgages and leases, charters, licenses, and copyrights, should also be original documents. If you need to produce this information for tax purposes or a legal case, having the originals can be very important.
Know How Long to Keep Records
Some documents, such as those that are related to establishing your business, should be kept indefinitely. Records retention for tax purposes is different. Generally, you should hold on to tax records for as long as the IRS could request them. Employee records should be kept for four years. Keep records of taxes owed for at least three years. The IRS has different rules for a variety of different business documents, which can be found on their website . Your business accountant can also help you determine how long record retention is necessary for financial documents.
Use Off-Site Storage
Not only does retaining records off-site make sense from a space perspective, but it is also safer and more secure. An off-site records retention facility will provide your important documents with greater security from fire, flood, theft, humidity, and other issues. Your records will also stay organized so that they are easy to access when you need them, and tracking software will let you know when the records were accessed and who accessed them, adding an extra layer of security.