As a Michigan business owner, you probably know that there is a lot of paperwork involved in keeping your business running. It does not matter how small or large your company is, good record keeping is essential. If you fail to keep good records, it will catch up with you. Most likely, you will end up in trouble when tax season rolls around. However, being able to properly file your taxes is only the tip of the iceberg when it comes to the benefits of good record keeping.