Poor recordkeeping means lost deductions

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 at 201-947-8081 for suggestions on how to improve your recordkeeping.

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