Chances are you’ve heard nightmare stories about a friend-of-a-friend who had to go through an IRS audit. Unfortunately, these scary scenarios almost always end in financial calamity. The first thing to remember is the IRS conducts individual tax audits on less than 1% of all filers in an average year. So your chances of going […]
Attest Services are an often over looked part of an accountant’s job. These services are designed to express different levels of assurance on the accuracy of the financial statements presented. As the professionals at Broussard Poché, LLP know, attest services can be needed for a variety of reasons. Things like: Business financing Selling a business […]
It’s a common problem for business owners; not understanding the rules and regulations for vehicle expenses. But the tax experts at Broussard Poché, LLP want you to know, if your business is audited, the IRS will most likely ask for mileage logs if you deducted vehicle expenses. Knowing the rules can save you lots of […]
If your company has a annual financial audit, you may receive an Auditor’s Management Letter as part of the final procedures. This often isn’t and shouldn’t be a bad experience–it can be an opportunity, if the recommendations aren’t seen as criticism. Management Letters are used to give businesses a comprehensive list of areas that need […]
It’s hard enough for one person to manage important documents, but if you own or operate a business, paperwork seems to stack up in just about every corner of your life. So here’s an overview of the timelines associated with important documents. Please refer to it whenever you’re cleaning house. Accounting Records Auditors’ report & […]