Commingling Accounts

If you are self employed (paid with a 1099) it is very important to keep accurate records. The first thing I advise to my clients is to QUIT COMMINGLING YOUR BANK ACCOUNTS! The easiest way to respond to an audit, is to have all your income and expenses in one account. The most scrutinized (and abused) deduction is automobile miles. Call us for details on what the IRS will expect you to provide if you are audited..