Demystifying tax documentation for your business

Let’s review what you need to do to get your paperwork organized for tax prep. This applies whether you plan to do your tax forms yourself or turn the work over to a tax professional to do on your behalf. Gathering the right paperwork and knowing what’s expected will make the process a lot easier.

There are two main reasons to gather up all your financial documents: First, having them on hand will make doing your bookkeeping and taxes a lot easier. Second, if the government decides you’re the lucky subject of an audit, you’ll need them ready and organized to back up your numbers.

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