Ever heard the saying, “It’s better to prepare and prevent than repair and repent?” That’s definitely applicable when it comes to audits on your business’s taxes. Tax audits can be expensive and inconvenient, or you can streamline the process with the right preparation. Let’s take
Incorrectly filing your taxes can lead to paying thousands of dollars to the IRS later. The IRS audits one million tax returns each year, and if you’re earning over $100,000 a year or claiming no income, you’re at an increased chance of auditing. Even if