Preparing for an audit is sort of like preparing for a test in school: The IRS informs you of which sections of your tax return the agency wants to examine, so that you know what to "study." The first decision you face when you get an audit notice is whether to handle it yourself or to turn to a tax adviser to represent you. Hiring representation costs money but saves you time, stress, and money…
To read the full story at AllBusiness.com, click here.
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.