Complete and accurate records are the key, the majority of farmers and small business owners hurt themselves by not recording every purchase,every mile driven and every expense while traveling etc. Signing up with a reputable accountancy firm that specalizes in or is knowledgeble of your trade or business is never money spent it is always money saved. Most people are scared of the IRS and do not take the deductions they are due, storefront tax services, including H&R Block are only interested in the easy pickings, they are not going to press for all they can because they do not want to answer any questions or have to back anyone up in an audit, there is no money in it for them. An audit is nothing to worry about as long as you have accurate, complete records of income and expenses and all reporting was completely honest.
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Today's Featured Article - Talk of the Town: How to Crank Start a Tractor - by Staff. This interestin discussion is from the Tractor Talk Discussion Forum. Remember that safety is your first priority - make sure you know what you are doing before attempting a potentially dangerous activity!
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