Aug 13 • General discussion
Do You Prepare Monthly Financials?
Preparing monthly business financial statements for your business is a requirement of the IRS. If you ever get audited, they will ask for them. If you do not have them, it is very likely that they will determine that you are NOT in business and disallow ALL of your deductions.....but keep your income.
Are you prepared for that risk?
Also, how do you know how much money you are making...or losing? How do you know if you are spending too much in one category or not enough somewhere else?
Email me if you want help!
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Do You Prepare Monthly Financials?
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