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Wednesday, November 20, 2013

Part 2 of 2 - Why Having Proper Tax Records Now Will Save You Big on an IRS Audit Later

FILE EVERYTHING -
RIGHT AWAY!
Remember: Keep your tax records straight! Make sure everything is filed away right! For people who are reading this and are the proud owners of messy offices and come equipped with office paper with a little bit of desk underneath, this simple task may seem overwhelming large for you right now. The keyword of course is- right now.

How to avoid any IRS trouble: Maintain at least three years worth of tax returns and records
  • Make sure all taxable investments or property have their cost basis tracked.
  • Put all your bills in organized folders (which are in turn organized so you can easily find them, i.e. not laying on your desk gathering dust for months being swallowed up by other paper work)
  • Categorize all of your receipts from purchases throughout the year.
  • Maintain a ledger for all checkbook stubs
  • Use a journal to keep track of all deductible items that you attain as you attain them. (Beats trying to remember what you had that was deductible at the end of the year!)
All of these will become your battalion of defense in an IRS audit. This IRS assistance is some of the most powerful and easiest things you can do right now to avoid any IRS trouble. With all of that being said, hiring good IRS representation is still a great idea even if you are already doing this. Dealing with an IRS audit has a lot of complexity, which most of that complexity is wrapped up in various law and bureaucratic policies that can get you in IRS trouble if you overlook it. No worries though, there are fantastic IRS representation services out there that you can use right now to take your mind off the whole situation.

One of the best IRS representation services out there to help you wade through an IRS audit is GBC Atlanta Tax Income Services, give them a call right now and prevent anymore grey hairs from forming on your head.


Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!

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