Preparing for a Tax Audit

Coin operated washers and dryers in Greensboro, NC

No one wants to hear the words “tax audit”; especially business owners. This phrase typically means there’s something wrong with your tax returns. It can be a worrisome and troubling time.

However, there’s no reason to panic. There are ways to prepare for an audit throughout the year. In some cases, this prep might even keep you from getting audited. If you need coin operated washers and dryers in Greensboro, NC, call the experts at T & L! We can save you money!

Prepping for a 2017 Tax Audit

Sometimes, you’re contacted by the IRS because there’s a mistake on your tax forms. You might have made an error in the math or added incorrect information of some sort. If this is the case, the problem is considered a correspondence audit and can be corrected via mail.

The best way to steer clear of this problem is to work with a tax professional to ensure all information that’s sent in is properly documented and correct.

Throughout each year, be sure to keep excellent records. This is the most important part of owning a business. According to bankrate.com, “Even with professional representation, you still must prepare for an audit by gathering information and taking it to your tax representative. As anyone who's gone through an audit can attest, the three top tips for preparing for the experience are good records, good records and more good records. In other words, adequate record keeping year round, not just on April 17th, is essential in case of an audit.”

Remember to keep records of expenses and other important things throughout each year. That way, you won't be struggling to get them all together before filing your taxes or when an audit occurs. 

Also, be sure to consult with a tax professional at least once or twice throughout the year, aside from when you're filing. They can help you get organized and also remind you of things that need to be documented and corrected. 

Tax laws are complicated but that doesn't mean you can't use them to your advantage. Be sure to work with a professional to ensure you're using these laws to benefit you in any way possible. They've been created for a reason, use them as you can.

We hope these tips help you get ready for tax season and/or an audit that might occur in the upcoming year. If you missed our previous blog, visit back with it, as well. They'll help you get ready for an audit and know what to do while it's taking place. 

Searching for Coin Operated Washers and Dryers in Greensboro, NC?

T & L has been in operation for 40 years. Within that time, we've worked hard to offer the best machines for the best prices. We believe in our products and are excited to share them with you. The benefits you’ll gain from trusting our coin operated washers and dryers in Greensboro, NC are incomparable. Our products offer the following advantages:

  • Easy to install and use
  • Saves washing and drying time
  • Saves money
  • Saves energy
  • Easy to clean
  • Comes in a variety of sizes and capacities

From replacing old units to helping you build a new facility, our years of experience and knowledge can help you make the right choice for your business. Our solutions are customized based on your business’ needs. We strive to provide excellent service and support in the commercial laundry industry. Give us a call today to learn more about the best equipment we have to offer. 

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