• Audit Target: The Sole Proprietor

    Audit Target: The Sole Proprietor

    Often the #1 target of IRS audits, sole proprietors need to be prepared with good records. Here are some tips. Each year the IRS publishes their activities in a publication called the Data Book. And each year for the past number of years the number one target of audits are those tax returns with a Schedule C for small business activity. So how to prepare yourself for a possible audit? Here are some tips. Keep records separate. The quickest way to get a deduction for your business disallowed is to blend your personal bills with those from your business. Open

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