Bookkeeping

Record Keeping Is Now A Bigger Deal Than Ever!

There’s bad news, and good news.

Bad News –

The IRS is hiring 4,000 new auditors to expand reviews of small businesses.

Expect many of the new audits to be “Correspondence Audits.”  That’s
when you get a love note from your favorite uncle (Sam) saying, “Hey,
dude (or dudette), we’ve been looking at your 2019 (or ’20 or ‘21) Tax Return,
and we have a few questions.”

That’s when they ask for your records — your proof that qualified for some of
the tax deductions you claimed.

Guess what?  If you don’t have the records, you don’t get the deductions.

Then they send you a bill for back taxes, interest, and often also penalties.

Good News –

Do you have good records for all of your tax deductions?  Most do not.

We at Diamond Tax Consultants can show you how to “reconstruct” lost, missing or incomplete records from this year AND can provide you with bookkeeping services that will bulletproof your records.

Schedule a free consultation with us today!