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Articles >
Business Basics >
4 Simple Tips to Help You Handle the Government
By
Monica Ross
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Articles > Business Basics > Legal
As a business owner, sooner or later you'll probably have to deal with the government. A notice from the Tax Man doesn't always have to be a terrifying experience.
Here's a few simple ways to help:
Maintain a good audit trail.
Make sure that all correspondence about the notice are documented (copies of canceled checks, tax returns, letters, receipts, etc).
Use certified or registered mail and request a return receipt for all correspondence you send to the government.
In case anything gets lost, this will provide proof that you did what you were supposed to do, when you were supposed to do it.
No response? Send a second copy.
If the government does not respond within 6-8 weeks, it's time to take action. Send a second copy, write "Second Response" and the date of the first response on the top. Make sure to include copies of all previous correspondence with the government.
What if you owe money and it was an honest mistake?
Request an abatement of penalties. Your intentions and your past efforts to make timely deposits could result in reduced penalties.
About the expert(s):
As the founder and President of Virtual Bookkeeping
TM,
Monica Ross has considerable experience working for all types of small
and medium sized businesses and independent contractors. She is
proficient in all bookkeeping procedures and familiar with bookkeeping
software such as Simply Accounting, QuickBooks, Quicken and MYOB. She
offers FREE Tele-Seminars to business owners to show them how easy it
is to work with someone virtually to complete their bookkeeping
requirements.
Monica Ross/Owner
Virtual Bookkeeping
1 (888) 201-3055
www.virtualbookkeeping.ca |
© Copyright 2008, Monica Ross
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