file

1. Electronic: Organized collection of computer code stored under a name unique in its directory or 'folder.' A file may contain a program, part of a program, or data such as text, graphics, spreadsheet, sound, video or a combination thereof. Each program and operating system has its own file storing scheme (called file format) that is normally incompatible with other such schemes.

2. Record keeping: Accumulation of related records or documents maintained as one physical unit (file folder) and commonly stored (filed) under a particular classification.

Keep all of your receipts and keep a good record of all of your expenses as they occur. If you do, you will be less likely to skip or miss out on allowable tax deductions and tax credits and it will make your life easier when you file taxes. Lastly, you will also be better prepared in the unlikely event that you get audited.

• How do you protect your intellectual property?