I always tell my clients to keep good records. Often, I tell them again and again annoyingly. It is my experience, and I daresay the experience of most other tax practitioners, that a taxpayer’s failure to keep good books and records will almost always result in a bad experience, if the taxpayer has to tangle with the IRS. 410 more words
Tags » Tax Court
That’s not an unusual question. The exchange continues often like this.
Vance: Do you have contemporaneous records that document (1) the amount of the expense; (2) the time and place of the travel or use; and (3) the business purpose of the expense? 358 more words
Professor Emeritus Lawrence M. Aleamoni is a psychometrician. I am not exactly sure what that means, but I assure you that it does not mean “tax expert.” Actually, it seems that one may not have to have taken a single accounting course to be a psychometrician. 367 more words