Get rid of the shoebox! Why people get into tax trouble.
After over 30 years of tax law practice, Moskowitz LLP knows why people get into tax trouble.
The most common reason:
Books and Records are a Mess. This is the number one reason people get into tax trouble. Every person has the best of intentions from the beginning, but life responsibilities or failing to understand just how critical it is to have good records (regardless of if you are an employee or self-employed) often leaves books and records a mess, creating confusion and mistakes. This often results in missed tax deductions, and should you get audited, trouble substantiating the tax positions you took on your tax returns.
It is all too common to get a box of receipts from a client for the preparation of their tax returns or representation in a tax audit. We are skilled at taking these shoeboxes full of receipts and creating order out of them. We are even more skilled at creating easy organization systems and using technology to clean up books and records and an ongoing, methodical system for our clients so they can make business decisions and family decisions based on real-time data.
Moskowitz LLP knows that your books are only as good as the information entered. We will set you up with accounting software and will help you automate it making the transition from the shoebox to organized books seamless.
Don’t worry, we make it easy!
Some of the benefits:
- Keep it all in one place. It seems obvious, but how often have you found yourself going through piles of paper looking for that elusive missing 1099 tax form or charitable deduction receipt? Once Moskowitz LLP sets up your books and accounting everything will be in one place, available to you for review in real time.
- Save time. Online solutions make it easy to sort categories for a quick picture of your financial condition.
- Required documentation.Certain deductions require substantiation and/or logs to qualify your expense. Common areas that require this are: business mileage, non-cash charitable contributions, and certain business expenses. These logs should be maintained throughout the year, and our software solutions integrated with the accounting software allow you to have the backup you need.
Moskowitz LLP is a tax law and accounting firm that has dedicated over 30 years to representing individuals and businesses with civil and criminal tax problems, cleaning up accounting and tax messes, and providing tax and accounting advisory services. We offer practical and affordable tax and accounting solutions, business services, estate planning, and administration.
Remember a blog post or email blast is not a substitution for obtaining personal legal and tax consultation. This information is not intended to be legal or tax advice nor does it form an attorney-client relationship between us.