Are You Prepared for an IRS Audit? The Value of a Compliance Review
Worried about how your books and records will hold up if you’re ever audited?
Keeping good books and records is critical to ensuring your tax deductions are legal, and you’re reporting income properly. Knowing your books are accurate will also give you peace of mind that if you’re ever audited, you’ll have little to worry about. With our tax compliance review, our tax professionals will inspect your books and records to identify errors and offer strategies and tips for making improvements. We will review and advise on the following:
1. Your profit and loss or income and expense statement
2. Your balance sheet
3. How to properly handle employees and independent contractors
4. How to properly deduct depreciation, auto expenses, and meals.
5. The rules of being a real estate professional, if applicable.
6. The rules of reasonable compensation for S-Corporation owners…
And more, depending on your unique facts and circumstances.
If this sounds good to you, I have great news: Both our Professional and VIP level tax packages include a 30-minute compliance session! And if you don’t currently have professional bookkeeping in place, I have more good news: these packages also include discounts on our bookkeeping services.
To learn more about compliance or to get some guidance on choosing the tax package that best suits your needs, please contact us. We would love to help you achieve a greater sense of certainty by performing a tax compliance review of your financials. Thanks so much for joining me!
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