The Importance of Document Destruction for Home-Based Business Owners

If your business headquarters are tied to your home address, chances are you have a lot more freedom than other business owners. However, you should still maintain strict policies for document destruction. While operating a business from home is more flexible, your private information is still at risk.

Consider what you have to lose if your sensitive information gets into the wrong hands. As a business owner, you may have others on your payroll who are depending on you to survive. Don’t lose your livelihood due to lack of security — opt for document shredding services in North Dakota and South Dakota.

Common Files and Records You Keep at Home

As a home-based business owner, you’re required to keep many different records, statements, and files. Whether you use an external storage location or keep files in your home, you still need secure document destruction. When it’s time to get rid of old papers, you’ll need to comb through the following types of documents.

Housing Expenses: Rent, Mortgage, and Utilities

You can deduct your housing expenses if you operate your business from home. This means you’ll likely have lots of statements and bills on hand: rent payments, mortgage interest statements, and utility bills.

These files all contain private information, like your address, name, and even payment information. It’s essential to shred old bills that you no longer need after tax time.

Employee and Payroll Records

If you have employees, you store all of their sensitive information as well. Their pay stubs, direct deposit information, and personal details all live inside your home. When you no longer need employee records, you should destroy them for good by utilizing our shredding services.

Accounting Files

Sometimes called “keeping the books,” many home-based businesses use different accounting methods to keep track of their income and expenses. If you use paper records for your business accounting, you’ll need to shred these documents when you’re done with them (usually three to seven years after you use them for filing taxes). The last thing you want is for a stranger to see your private financial information.

How Identity Theft Can Ruin Your Business

You’re still vulnerable to identity theft even if you don’t have an external business location. If a criminal gets ahold of you or your employees’ sensitive information, your entire operation will be at risk.

Bad Credit

Identity theft can ruin your credit, preventing you from getting approved for business loans and credit cards. This happens when perpetrators take out loans and finance purchases in your name after stealing your identity.

Unsecured Work Environment

If potential employees get wind of bad document storage and destruction practices, they probably won’t want to work for you. They won’t risk their own financial well-being.

State and Federal Violations

Depending on the type of business you run, you might be subject to both state and federal regulations. An identity thief may do things that violate these regulations, which can compromise your entire business. If the state or federal government suspects you’re guilty of shady business practices, you could end up in legal trouble.

SEAM Services: Secure Document Shredding for Home-Based Businesses

Need safe, secure document destruction services in North Dakota and South Dakota? At SEAM Services, we have you covered! We use secure, compliant document destruction methods for businesses in Sioux Falls, SD. Contact us for a quote to start protecting your home business today.