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Navigating an IRS Audit: Understanding and Mitigating Risks for a Small Business Audit

inDinero Accounting

As a small business owner, few phrases strike fear quite like “IRS audit.” ” While the chances of getting audited by the IRS are relatively low, understanding audit risk factors and implementing preventive measures can provide peace of mind and financial security. How Often Do Small Businesses Get Audited?

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What Does Fixed Assets Software Do?

CPA Practice

Getting your fixed assets management wrong can lead to costly inefficiencies, longer quarterly and year-end closings, and poor internal controls that can cause material weaknesses and audit risks. Fixed assets software can provide added audit protection, whether from the IRS or for your own internal processes.

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Friday Footnotes: Anyone Wanna Work in Hollywood?; Profit-Hungry CEOs Love Gen AI; KPMG’s SF Future | 1.19.24

Going Concern

TSG’s lawsuit filed last August in Los Angeles District Court said that Fox had promised TSG a share of defined gross receipts for pictures under the companies’ long-term participation agreement but that the studio used “nearly every trick in the Hollywood accounting book” to not pay. It didn’t specify which films were examined.

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Illinois Small Businesses: Upcoming Aug 5-14 Sales Tax “Holiday” Is Anything But One

Nancy McClelland, LLC

I just have to hope they don’t get audited by IDOR. You can just have your accountant book an adjustment after the correct amount of tax is paid to the state. This allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.