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Q: I just started a welding business and am terrified of getting audited by the IRS. Are there any things I can do to make sure I prepare all of my taxes correctly?
A: As a new business owner, you have the opportunity to get started right with respect to tax preparation.
Tax preparation isn’t just about filling out tax forms. It’s also about maintaining adequate records and staying organized so you can avoid potential problems. My advice is to follow the three Cs of tax preparation:
1. Careful record keeping – Keep accurate records and notes so you can