 Do you use online accounting software?
jacquesm: No, I would never put critical financial information online, I just about trust my bank not to mess up with my account information but that's as far as it goes.But that really is my only reason 'against', on the other side of the ledger (pun intended) there are plenty of 'pros', such as the ability to stay current with the tax rules without upgrading your software.If you use an online accounting service make sure they allow you to export your data in some common format so that you can back it up yourself. Most of these companies will of course do their very best to make sure that you don't lose your data (one should assume) but if anything should happen then you, not they, are responsible as far as the IRS is concerned.