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4 Ways Small Business Owners Can Stay Tax Compliant

xendoo

A crucial component of being a small business owner is meeting certain tax requirements in order to remain compliant in the eyes of the IRS. That is why the Xendoo team has created this guide to help business owners stay on top of their tax requirements, remain compliant throughout the year, and effortlessly maximize their return!

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What happens if you get audited and don’t have receipts?

xendoo

The best way to avoid headaches during an IRS audit is to keep accurate business records and bookkeeping year-round , and that includes tracking receipts. Receipts are a paper trail for your business transactions and taxes. Without them, it’s harder to prove your tax deductions and other records are accurate.

audit 52
article thumbnail

What happens if you get audited and don’t have receipts?

xendoo

The best way to avoid headaches during an IRS audit is to keep accurate business records and bookkeeping year-round , and that includes tracking receipts. Receipts are a paper trail for your business transactions and taxes. Without them, it’s harder to prove your tax deductions and other records are accurate.

audit 52