Better Business Ventures, Inc.

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WARNING!
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tax preparer
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Enrolled Agents – The First Tax Professionals, established by an Act of Congress, 1884

Tax Recordkeeping

Better Business Ventures, Inc. is ...
~~ A FINANCIAL ENGINEERING FIRM FOR INDIVIDUALS AND SMALL BUSINESS OWNERS. ~~

Enrolled Agents are the GOLD STANDARD in tax preparation & tax representation!

At BBV, we perform CPR for taxpayers - | TAX CONSULTATION | TAX PREPARATION | TAX REPRESENTATION

What’s the Difference between a Certified Public Accountant (CPA) and an Enrolled Agent (EA)?

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"It's income tax time again, Americans: time to gather up those receipts, get out those tax forms,
sharpen up that pencil, and stab yourself in the aorta."
Dave Barry (
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[Starting a New Business] [Employee or Contractor?] [Beware of Tax Scams] [Home Office Deduction] [Identity Theft] [Charitable Donations] [Received an IRS Notice?] [Tax Recordkeeping] [Before You Hire a Tax Pro] [Do I Have to File?]

Keeping Good Records Reduces Stress at Tax Time

Whether you are an individual taxpayer or a business owner, you can avoid headaches at tax time with good records because they will help you remember transactions you made during the year.

Here are a few things the IRS wants you to know about recordkeeping.

Keeping well-organized records also ensures you can answer questions if your return is selected for examination or prepare a response if you are billed for additional tax. In most cases, the IRS does not require you to keep records in any special manner. Generally speaking, you should keep any and all documents that may have an impact on your federal tax return.

Individual taxpayers should usually keep the following records supporting items on their tax returns for at least three years:

  • Bills
  • Credit card and other receipts
  • Invoices
  • Mileage logs
  • Canceled, imaged or substitute checks or any other proof of payment
  • Any other records to support deductions or credits you claim on your return

You should normally keep records relating to property until at least three years after you sell or otherwise dispose of the property. Examples include:

  • A home purchase or improvement
  • Stocks and other investments
  • Individual Retirement Arrangement transactions
  • Rental property records

If you are a small business owner, you must keep all your employment tax records for at least four years after the tax becomes due or is paid, whichever is later. Examples of important documents business owners should keep Include:

  • Gross receipts: Cash register tapes, bank deposit slips, receipt books, invoices, credit card charge slips and Forms 1099-MISC
  • Proof of purchases: Canceled checks, cash register tape receipts, credit card sales slips and invoices
  • Expense documents: Canceled checks, cash register tapes, account statements, credit card sales slips, invoices and petty cash slips for small cash payments
  • Documents to verify your assets: Purchase and sales invoices, real estate closing statements and canceled checks

For more information about recordkeeping, check out IRS Publications 552, Recordkeeping for Individuals, Publication 583, Starting a Business and Keeping Records, and Publication 463, Travel, Entertainment, Gift, and Car Expenses.

Information on this web page is taken from the Internal Revenue Service’s public website. All information is current as of the date of posting of this web page.  Keep in mind that links outside of our web site expire over time. To report an inactive link, please call us or send an e-mail.

Our mission at Better Business Ventures, Inc. is to empower individuals and small business owners to achieve a greater awareness of their tax and accounting needs so that they can effectively use their time to focus on the maximum profitability of their business. Check out our blog at www.SacramentoTaxBlog.com.

We are Enrolled Agents, Admitted to Practice Before the Internal Revenue Service
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They tax it when you earn it, they tax it when you spend it, they tax it when you save it, and they tax it when you die.

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Better Business Ventures, Inc. | PO Box 660186 | Sacramento CA 95866
Office: 4600 Roseville Road, Suite 150 | Sacramento CA 95660
(916) 974-9393 Phone | (916) 974-9399 Fax
Web sites used by Better Business Ventures, Inc. include:
www.betterbusinessventures.com www.taxsense.net www.sacramentotaxpreparer.com
www.sacramentobookkeepingservice.com www.sacramentopayrollservice.com www.gobookkeeper.net
www.mybusinessmatters.net www.sacramentoea.com www.sacramentoenrolledagent.com
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*Please note that links outside of this website usually expire over time.

Need a tax accountant? Need a Sacramento accountant?  Need an EA? Need a Sacramento EA?  Need an Enrolled Agent? Need a Sacramento Enrolled Agent?  Have a tax problem? Are you being audited by the IRS? Are you under an IRS audit or IRS examination? Do you have a collection problem with the IRS? If you need IRS help or IRS tax help, we can assist you.  If you have tax problems, IRS tax problems, we are an enrolled agent.  If you have IRS tax debts or an irs tax levy, we can help with your IRS problems. If you owe money for back taxes or if you have IRS penalties and interest, we provide tax help in these areas.  Has the IRS filed a tax lien against you? Need to do an Offer in Compromise? Need a tax preparer? Need a Sacramento tax preparer? Need tax preparation? If you have tax questions, just ask us, we can help with your IRS tax questions. If you’re looking for a tax advisor or a tax consultant, we are ready, willing and able to help you.  If you want to know about income tax deductions or wonder what income tax bracket you fall into, we can help with that. Need Sacramento tax preparation? Need a bookkeeper? Need a Sacramento bookkeeper?  Need a Certified QuickBooks ProAdvisor? We provide tax accounting services for small business owners.  We provide tax preparation assistance.  If you need corporate tax filings done, we can help with that as well.  Need payroll services? Need payroll services in Sacramento? Need to file your tax returns?  We can file your federal tax returns and your state tax returns.  Even if you haven’t filed your tax returns in a while and the tax returns are late, we can file your late tax returns for you. Looking for income tax preparation?  Need an income tax preparer?  File your Federal income taxes with us.  We give tax advice. We do tax consulting.  We are a Sacramento tax consultant. We do tax preparation services.  Need help starting a new business in Sacramento? We do small business taxes in Sacramento also. We do small business tax planning so you can reduce your business taxes.  We are tax professionals and we are in Sacramento, CA.  We do tax return services.  If you need federal income tax help, you’ve come to the right place.  If filing your federal income tax return is a burden, let us help you with filing your income tax return. When you have IRS tax problems, we can help. We also provide small business accounting services, so if you need a business accountant, you’ve come to the right place.  Need Quickbooks help or QuickBooks training in Sacramento? Sacramento Bookkeeping & Payroll Services, Tax Preparation for All 50 States, California Franchise Tax and Sales Tax Help. IRS Tax Help, IRS Relief, California Income Tax Preparer, Estate Tax Planning, Tax Lien and Tax Resolution Help. Some have even said that we’re the best tax preparer in Sacramento. Better Business Ventures serves the communities of Sacramento, Auburn, Carmichael, Citrus Heights, Davis, Dixon, Elk Grove, Elverta, Fair Oaks, Folsom, Lincoln, Loomis, North Highlands, Orangevale, Placerville, Rancho Cordova, Rio Linda, Rocklin, Roseville, Shingle Springs, West Sacramento, Woodland, Yolo. Call us at 916-481-5252 to arrange an immediate appointment. 

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