youdecide - One essential part of doing taxes and having a...

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One essential part of doing taxes and having a tax business is doing the appropriate research. Research is essential because you are constantly going through audits and being regulated. You must meet all regulations to make sure that you are compliant with all IRS codes and accounting rules. Thanks to technology we have lots of resources to turn to. Good examples are the irs codes online, online tax services, and tax periodicals. Conducting research is essential. As stated in our lecture we must identify problems, refine it, locate the appropriate tax source, check how valid these sources are, not only arrive at a solution, but communicating appropriately the research conducted. In this case, we have a new client with questionable expenses and receipts, and is also in a rush to get the return done. In this case, I would do the financials to the point that I can. Anything that I have answers to I will complete. However, any documents that are questionable I will do research on. I will go to the IRS website, look at the codes and regulations, and assess my information.
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This note was uploaded on 02/25/2012 for the course ACCOUNTING 305 taught by Professor Bines during the Spring '12 term at DeVry Chicago.

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