Audit Shield: Intent To Profit
There is nothing that you can do to prevent an audit.
You can however put an audit shield in place to protect you in the event of an audit!
Unless you are a massive earner an audit of your business by the tax bureau is just a random occurrence and your number came up.
When that happens you DO want to be ready!
Other links on the site that relate to this topic include:
- Your how-to guide to creating a direct sales marketing plan. An action-based written business plan that is a declaration and documentation of what you plan to accomplish in your business becomes proof of your intent to profit aka your audit shield.
- This is an article with a list of other direct selling tax deductions.
- You also may want to check out this article on how to pick a tax accountant that understands direct selling.
Audit Shield: Plan To Make A Profit*
A well-written statement is your justification to the tax bureau that you ARE in fact a legitimate business owner and entitled to the benefits given to home business owners.
The Power Up For Professional Results Direct Sales And Marketing Program is the system that Deb used to quit her job!
It includes a home business-specific template for writing a plan that not only encourages activities to grow your business but also becomes your audit shield!
Take the home office deduction (assuming you have an office) because you deserve it but take it seriously!
*We are not giving you tax advice.