Tue, 25 Jul 2023 22:59:24 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png 32 32 https://www.patriotsoftware.com/blog/accounting/common-irs-audit-triggers/ Thu, 05 Jan 2023 18:15:15 +0000 https://www.patriotsoftware.com/?p=60891 You have a lot to deal with to keep your company operating. One thing you don’t want to have to handle? An IRS audit. While some audits happen randomly, others trigger from red flags in your records. What are these IRS audit triggers, you ask? There are common red flags that could trigger an audit, […]

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]]> https://www.patriotsoftware.com/blog/accounting/what-happens-audited-by-irs-statue-limitations/ Mon, 07 Nov 2022 20:44:26 +0000 https://pslohio.wpengine.com/uncategorized/what-happens-audited-by-irs-statue-limitations/ If the phrase “audited by the IRS” fills you with dread, you are not alone. Getting audited is something no business owner wants to go through. But, sometimes audits take place. If you get audited by the IRS, what happens? What happens when you get audited Most business owners don’t want to think about what […]

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]]> https://www.patriotsoftware.com/blog/accounting/what-is-an-audit/ Wed, 02 Nov 2022 18:11:12 +0000 https://pslohio.wpengine.com/uncategorized/what-is-an-audit/ Audit. Do you panic when you hear that five-letter word? You might think an audit is the last thing your business needs, but they aren’t always bad. Regular audits can be more like a routine maintenance check than an invitation for IRS penalties. Learn what an audit is, what types of audits there are, how […]

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]]> https://www.patriotsoftware.com/blog/accounting/how-to-conduct-audit-business/ Thu, 15 Sep 2022 14:34:09 +0000 https://www.patriotsoftware.com/?p=57388 A nerve-wracking visit from the IRS isn’t the only type of audit out there. There are several audits you can—and should—conduct regularly. And to do that, you need to know how to conduct an audit. Read on to learn: What is an audit? The types of audits  Why performing an audit is important  How to […]

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]]> https://www.patriotsoftware.com/blog/accounting/cash-intensive-business/ Thu, 16 Dec 2021 14:50:00 +0000 https://www.patriotsoftware.com/?p=55016 Do you receive most of your business income in cash? If so, you’re probably a cash-intensive business, which can put you under greater IRS scrutiny. Why? Because cash transactions do not leave a paper trail. So if you run a cash-intensive business, you need to keep detailed records. Read on to learn the cash-intensive business […]

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]]> https://www.patriotsoftware.com/blog/accounting/different-types-of-audit/ Thu, 04 Mar 2021 20:36:00 +0000 https://pslohio.wpengine.com/uncategorized/different-types-of-audit/ As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below. Different types of audit As a brief recap, an audit examines your financial […]

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]]> https://www.patriotsoftware.com/blog/accounting/what-is-an-audit-trail/ Tue, 07 Apr 2020 12:25:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-an-audit-trail/ As a business owner, you’re responsible for recording your company’s transactions. And to support your entries, you should be keeping adequate documentation. This accounting documentation acts as an audit trail for your business. Read on to learn what is an audit trail and why it is essential for your small business. What is an audit […]

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