Business Blue Print

Part 1: Introduction

Welcome to Audit Proof Masterclass

About Me

Objective Of The Masterclass

Part 2: What is Audit Proofing?

Audit Proofing Involves
Steps 1 and 2 

Audit Proofing Involves Steps 3 and 4

Internal Revenue Code: Ordinary and Necessary

Part 3: How to Audit Proof?

What Records You’re
Supposed To Keep?

How To Keep Records?

How can bookkeeping Software help with Audit Proofing? (Quickbooks etc)

Part 4: How to Avoid an Audit?

Prepare your Tax Return With A Credentialed Preparer Like Myself or Another EA or CPA

File An Accurate Tax Return

Do your Bookkeeping or
Keep Very Good Records

Part 5: Audit Proofing your Income!

Keep All Records of
Invoices Paid
and Cash Received

Cash Intensive Business Should Create a Cash
Receipts Log Book, or Register…

Please Make Sure You Don’t COMMINGLE Personal or Business Income.

Part 6: How to Audit Proof Your Travel?

Plan the Business
Aspect of the Trip.

‌Use Your Log While
On the Trip.

Document Every
Part Of The Trip

Ordinary and
Necessary

Part 7: How to audit proof your Auto & Car Expenses?

Track All the Miles Personal, Commuting, and Business

Identify and Classify the Type of Miles

This Needs To Be
Per Business Drive

Part 8: How to Audit Proof your Itemized Deductions?

Withdraw The
Exact Amount
Of Your Donation

On your Withdrawal Slip You Must Write “Withdrawal for Church Donation for (Church Name)”

Take The Cash And Put It In An Envelope With The Following Family’s Name, Address, And Telephone # And The Amount.

Take A Picture Of The Withdrawal Slip w/ Details
And Envelope.

Inquire With Your Church   

Good Will Items

Other Itemized Deduction

Part 9: Home Office Expenses

‌Track ALL Of Your Household Expenses Using Your Workbook Or Other Apps​

‌ Identify One
Dedicated
Space
For Your Office

‌Get Your Full House Measured  and the Square Footage of your Office Space or Storage

Take A Picture
Of
Your
Office Space

Part 10: Business Meals

Email All Attendees
For Confirmation And
Mention The Purpose

‌Enter All Meeting
Details On Log

‌Plug Meeting On
Calendar Before Confirmation Email Is Sent

‌Keep Notes During
The Meeting

‌Equate The Value
Of The Meeting

Steps 7: ‌Take Notes On The Receipt
Step 8: Keep The Receipt and
Step 9: Post in QB With Notes

Part 11: How To Turn Any Expense To A Tax Write-Off

Step 1: Identify A Purpose It Can Be Used For In You Business Step 2: Show That Using or Buying That Will Increase Your  Reach

‌Step 3: Connect The Dots Between Your Expense To Sales, Marketing, Business Need.

Unordinary Business Expenses

Workbook Contents

Charitable Donation Log

Cash Charitable Donation Log

Travel Log

Meal Log

Mileage Log

Tax Deduction List

Event Log

Home Office Log

Resource Page With The Following Links:

Quickbooks

Waveapps.com

Mint

It’s Deductible

Tax Bot