Are You Prepared for an Audit?

Certified Public Accountant, Troy Reichlein explained that the IRS has a tax gap; which is what the IRS collected in taxes vs. what they think they should collect.  In order to shrink that the IRS is doing more audits, and different types of audits that result in higher collections, so it's good to maintain records throughout the year rather then wait, particularly for subjective deductions such as meals/entertainment/travel/mileage.

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