Poor recordkeeping means lost deductions

Posted on Dec 29, 2015

What’s worse than keeping records? Losing tax deductions because you didn’t keep records. Tax court cases routinely deal with “unsubstantiated” expenses – business costs that taxpayers claim but cannot prove – and taxpayers routinely lose. Every legitimate and supported deduction can save you tax dollars. As the end of the year approaches, take time to make sure your records are in order. Don’t want to deal with reams of paper? Software programs and apps can ease the burden. Give us a call for suggestions on how to improve your recordkeeping.

Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in the McLean and Tysons Corner, VA. Gilliland & Associates specializes known for our superior knowledge and aggressive interpretation and application of tax laws, we help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+, LinkedIn, Facebook, and Twitter.

 

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