Business Tip of the day….Ready for an “Uncle Sam’s Audit”? 4/26/2013
So you get that dreaded letter…”It’s TIME…an Audit from the IRS”….what do you do? Panic… pull your hair out…nibble on your nails?
When there is slow/down time in your business….its time for you to work on your business infrastructure. How do you sure-up your infrastructure?
i) Maintain your records,
ii) Do due-diligence on your company (after all you do it for everyone else including your clients)…
ii) Keep good records, (file regularly and record expenses daily if not weekly)
You shouldn’t be in business if you don’t know what your accounts/bookkeeping looks like…(even if you hired a great bookkeeping/accounting firm to manage your book) Please know what’s going on in your business. Always get things in writing.
How you get ready for an audit?
Personally coming from my years on Wall Street (which has made me Compliance OCD) I run my business like a Compliance Boot-camp…lol…so when “Uncle Sam” come knocking/calling for an audit it takes me a few hours gathering up supporting documentation.
I write to you Today about a very passionate subject to me! STOP THROWING YOUR MONEY AWAY TRYING TO BUILD YOUR BUSINESS.
Please Stop Throwing your Business Money/Resources to Empty Promises, Bottomless Money Pits! I know these companies have to live and feed their families and make a living but you don’t have to be the person who throws your money to “their wind of empty promises” if you are a new start up business! Look there are Many Resources available to you as a small business own…do your homework! REMEMBER grow your business slowly but steady!
TIPS… Services to Grow Your Business….THAT WORKS…NO GIMMICK…NO Empty Promises…No Throwing away your money into BOTTOMLESS MONEY PITS
I am a big supporter of utilizing the Small Business Resources that are available to you through your Local Cities or Governments for Building Strong Highly Competitive Respectable Businesses…..After all your tax dollars pay for it…So USE IT!! And everyone should be utilizing them in this bad economy
1. Chamber of Commerce
2. SBA (Small Business Administration) & SBS (Small Business Solution)
3. Registered Tax Agent
4. Local Business Library – SCORE
These Business resources are mostly available with a very minimal cost to Start Up businesses and or are FREE in many instances.
Wishing you much business success….Lydia WWW.TTTEVENTSPLANNING.COM