Importance of proper bookkeeping and receipt retention

Do you worry about if your books would survive an IRS audit? I used to be an IRS Revenue Agent in the Small Business/Self-Employed (SBSE) Division. My whole job used to be looking through financial records of small businesses (entities with gross receipts under $10 million per year) and self-employed individuals to see if the proper rules were being followed.

The most common reason there was an adjustment in an audit was for failing to keep any records at all! Part of the reason I left the IRS was to create Larson CPA. Our mission is to work with small businesses and self-employed individuals, ensuring not only that their tax obligations are taken care of but also that they maintain books that comply with applicable laws and regulations.

Send us an email or set up a time to meet ​here​ if you are interested in hearing about how Larson CPA can help your business with its bookkeeping and tax needs!