Hey ,
Let's have a quick chat about cash payments in your business. I get it; sometimes it seems easier to hand over cash for supplies, a quick repair, or whatever pops up. But I must tell you, that's a recipe for headaches down the road.
Here's why a paper trail is your business BFF:
- Bookkeeping Nightmare: Cash disappears quickly, leaving you scrambling to figure out where your money went. It's a mess!
- Accounting Chaos: Accurate accounting = accurate tax prep. No receipts? Your tax bill could be a guessing game...and probably not in your favor.
- IRS Red Flag: Audits LOVE businesses with lots of cash transactions. Those penalties? Ouch.
Look, I'm not
saying ditch cash entirely. But make it the exception, not the rule. Use your business debit card, track those receipts, and keep things clean!
Want to see how this plays out in real life? Check out my recent Instagram post: https://www.instagram.com/p/C4O0d4NSNaI/
Your business success is my priority, and that includes keeping you out of hot water with the IRS! 😉
Let's chat if you've got questions or need help streamlining your payments.
Thanks,
Your favorite accountant and tax professional,
Folasade,
(202) 618-1295
[email protected]