How to prepare for – and survive – an IRS audit
It’s something every business owner worries about – including contractors.
You file your taxes on time and believe they’re accurate but, several months later, you get that fateful letter in the mail. Getting the news you’re going to be audited is like seeing a ghost – shocking to the point where you may not even believe it at first. But an IRS audit, though not entirely preventable, is more manageable than you might think.
Construction companies are document-oriented businesses. So if you manage those documents properly, you’ll likely be well on your way to defending whatever tax breaks you’ve claimed.