Keeping up with receipts and other paperwork is often the bane of a business owner's existence. It's the worst part of many people's day or week, especially at tax time.

Ensuring these documents, and the handy data they contain for your Schedule C, are properly kept, maximizes deductions and protects your business in the case of a possible audit.

In the words of a wise philosopher: "It's better to have them and not need them than to need them and not have them."

If you're just starting your business, or you're a seasoned small business owner, it's good to go through the following checklist to make sure you're protecting yourself and your company.

You may have a lot of questions, for instance, how long should you keep receipts? To help you successfully tackle small business records management, I've pulled together a list of what you should be keeping and for how long.