Create functional and accurate filing systems for all business receipts.
Keep past tax year records in a safe (dry) place.
Always retain copies of bank statements with payee information of written checks.
Always retain receipts of cash purchases.
If using a credit card for expenses, keep all statements.
Never wait until the end of the year to begin bookkeeping.
Never purchase something solely for the benefit of a tax write-off.
Keep some type of log for business mileage.
Never delay on addressing past due taxes.
Be sure to enter all check information in the check register.
All handwriting should be clear so your bookkeeper can read it!
Never open or use more business banks accounts than is needed.
Never open or use more credit card accounts than is needed.
Take measures to avoid bank overdrafts!
Find out what the IRS requires for your particular enterprise.
Bookkeeping and tax preparation should always be viewed as a dress rehearsal for an IRS audit.
Always refrain from being closed minded, self centered, and professionally irresponsible.
CORDOVA BUSINESS SERVICES
CORDOVA, TN
901.371.1549
