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Double Check Your Documentation – Better to be surprised now than during an audit

Double Check Your Documentation – Better to be surprised now than during an audit After filing a tax return, most of us are simply relieved another tax year is done. Before moving on to next year, please spend a moment organizing your records. It will help tremendously should you need to refer to them at a later time. Your tax return is completed and you can exhale a big sigh …Read More

Missing a Form? Not an Excuse.

Missing a Form? Not an Excuse. At the start of each year our mail boxes begin to fill up with information tax forms. They include W-2s, 1098s, 1099s and the new 1095-A. If you fail to receive a form, you are still liable for the tax it creates. Here are some tips to avoid this possible audit risk.

No Check! Where’s Your Proof? – What to do about your need for documentation

Very few banks return your cancelled checks. So what do you need to do if required by the IRS to prove your deductions? Often this means staying ahead of the game at year-end. Year-end is a good time to ensure you have proper documentation to substantiate your tax deductions. This is important as many banks start deleting online documentation that is over one year old. Background Two things have happened …Read More