How to Prepare for a Small Business Tax Audit

A tax audit helps small businesses to identify and rectify bookkeeping errors that may cause additional tax liabilities. If your business tax returns are accurate and complete, a tax audit only becomes a simple inconvenience for your business. The proper documentations and financial records may help you avoid a tax audit. The best way to prepare for an audit is to make sure that all your documents of tax returns are highly accurate. If you get a mail from IRS (Internal Revenue Service) announcing your business is being reviewed, consider…

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