What bookkeeping records must my foreign-owned e-commerce LLC maintain?
I've been running my e-commerce business through a foreign-owned LLC for two years and my bookkeeping is a mess. I have sales on Amazon, Shopify, and eBay. Payments come through multiple processors. I have expenses in multiple currencies.
I'm from Colombia and the LLC is in Wyoming. An accountant told me I need to keep records for 7 years and have specific documentation. What exactly am I required to keep? Can I use software or does it need to be paper?
I'm also worried about proving my expenses if I'm ever audited. What documentation does the IRS actually require?
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