Top 5 Audit Proof Tax Loopholes for Small Business Owners

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Mat Sorensen - Wealth Lawyer & Entrepreneur

10 күн бұрын

Mat talks about the most common Tax Loopholes that Small Business owners miss out on. These loopholes can change the game for you so don't miss out!
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Пікірлер: 3

@USCAVHOOAH 8 күн бұрын

I just got a notice that I was randomly selected for a record inspection from DOL. They want things like general ledger, financial statements, corporate minutes, and normal things that I would think they would want like W2s, 941s, etc. Why does DOL need general ledger and financial statements? Feels like an IRS audit.

@MatSorensen 6 күн бұрын

Good question, unfortunately they ask for everything even though they may not need it or even look at it. Are they auditing a labor issue or retirement account?

@USCAVHOOAH 5 күн бұрын

@@MatSorensen I think it's just checking records. The Alabama code they referenced, Sec 25-4-116 just talks about the requirement of keeping records. I was just confused on why the DOL is requesting documents to include my financial statements, corporate minutes, general ledger, etc. Thanks so much for the response!