While the idea of a tax audit is not something that anyone looks forward to facing, the event does not need to strike fear in the heart of a business owner. By choosing to work with an accounting professional, it is possible to prepare for that Audit in Galt CA. Here are some of the ways a professional can help.
Going Over the Books
One of the first things the professional will do is take a good look at the accounting records of the business. The goal is to make sure every posting and another transaction are done in compliance with generally accepted accounting principles. This will go a long way in making it easy to respond to any query by the tax agent and ensure the responses are accurate and complete.
Gathering Documents
While the Audit in Galt CA may be routine, there may be some small issue that prompted the action. Make sure there are documents to back up everything recorded in the accounting records. Cross reference those documents with the information reported on company tax returns, employee withholding, and other financial matters. If there is a question about why a certain tax exemption was claimed or why a certain deduction was made, the documents will be there for review.
Answering Questions
Many business owners are intimidated when it comes to talking with anyone from a tax agency. Rest assured accounting professionals are capable of keeping a cool head and answering questions without becoming flustered. This will go a long way toward helping the audit progress without any complications. Since the professional will likely anticipate what the agency will want to know, it will be easy to have everything in order to answer those questions to the satisfaction of the agent.
For anyone who is facing an audit, visit the website today and arrange to meet with a professional Galt CPA. With the right type of preparation, it will be possible to ensure all the financial records are in order and that the audit will move forward smoothly.
Even after the audit is finished, retaining the CPA to check the books now and then will ensure that all financial information remains in order. Contact Galt CPA for more information.
