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’reSupposed 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 Visit Folasade Main Website
