Each year, the U.S. Small Business Administration recognizes the contributions of small businesses to the success of the economy. This week, National Small Business Week is May 23-29.

Today's tip is to keep good records for success. By keeping good records, small business owners can:

• Monitor the progress of their business
• Prepare their financial statements
• Identify source of receipts
• Keep track of deductible expenses
• Prepare their tax returns
• Support items reported on tax returns

For more information, see IRS Publication 583, Starting a Business and Keeping Records.