ISSUE

The IRS recently made an inexplicable decision to increase audits of small companies while easing up on large firms. Small businesses are perceived as being major offenders in noncompliance with tax laws because many have cash components that are not well documented and have loose employee recordkeeping procedures. So, how do you know what practices the IRS is looking for in auditing a business? How can you operate your business from a tax standpoint to keep the auditors away from your door? Sharing information with your accountant may be the wisest way to obtain technical clarification on some of the issues. After all, audits cost time and money – two things most small-business owners have in short supply.

SOLUTION

With unwavering integrity and ethics, Bond Beebe’s highly qualified Accounting & Assurance team can help you structure your systems to clearly demonstrate the validity of your business practices, so you know in advance what can trigger an audit and what auditors are looking for if you do get audited. Additionally, you’ll gain insightful financial advice so you’ll have a better chance of submitting returns that won’t raise red flags, thus avoiding an audit.

While being audited by the IRS can certainly be unnerving, our clients take comfort in the depth of our experience in working with the IRS. To help your business weather an audit if it comes, Bond Beebe will help get you through the process quickly and with as little disruption as possible. Our Tax Compliance & Planning experts have handled thousands of audits across all industries and for families and individuals; they’ll review your tax situation and accounting records to help you to prepare for the audit, working proactively with the IRS on your behalf to give them the documentation and answers they need during the process.