At present the IRS (as it appears after meeting with associates and actual audits) that the IRS Number One "Hit list" is the Schedule C. Therefore, I can only repeat that you keep good records (No, they do not have to be Computerized...but at least write them down and keep them in order). I am not a Bookkeeper, but will help you organize your records than will help you both understand the requirements and at the same time review your records to cut cost/expenses. First most
AB 1925 – TAX DELINQUENT LECENSEES. (I.e. MD, RN, RCP, CONTRACTORS, ETC). Authorize the FTB (franchise tax board-California) to suspend occupational and professional licenses for failure to pay tax liabilities and notify their respective licensing agencies of the suspension. State liens start at $1,000.00.
The question, How long do I need to keep checks, tax returns, etc? If you’re cheating on your taxes, save everything. If you’re honest, the IRS usually has three years to