xendoo

MAY 16, 2023

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.

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audit bookkeeping tax return cpas 52

xendoo

MAY 16, 2023

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

audit bookkeeping tax return cpas 52

inDinero Tax Tips

AUGUST 29, 2023

Nor can you write off late fees paid on federal or state taxes owed with your tax return 8. Nondeductible Entertainment Expenses You may wonder if you can write off entertaining clients as a business expense. Unfortunately, these are nondeductible entertainment expenses.

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xendoo

NOVEMBER 1, 2021

In other words, if your home office doubles as a nursery or workout room, you’ll likely be unable to claim it as a deduction on your tax return. If you use the simplified option for claiming tax deductions, the IRS permits you to deduct $5 per square foot of office space. Tax Planning Takes Time and Xendoo Can Help.

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