Business Operations and Documentation
In this session we will discuss a number of best practices in the area of business operations and documentation. The goal of this session is to teach you what is a valid business expense deduction and how to properly document and record those expenses. The topic areas include the following:
Company Bank Accounts and Business Expenses
- Review current business P&L and chart of accounts for proper business expense category listing
- Discuss FMA, CPA "Best Practices" for business expenses
- Provide a definition of business expenses
- Discuss appropriate documentation needed for business expenses based on IRS requirements
- How to "Audit Proof" your records
- "Entrepreneur Friendly" business expense reporting and documentation
- Review business record keeping systems and efficiencies
- Evaluate opportunities for missed or unused deductions
- Accountable plan for any expenses paid from personal account
- Determine company policy for reimbursement
Mark is a graduate of the University of Akron and a licensed CPA in Florida and Ohio. He spent 10 years as a commercial banker in the Tampa bay area and has over 17 years of business development and consulting experience, having worked with small and medium-sized businesses. Since joining his firm, Mark has focused on building a business and individual consulting model that takes a holistic approach to tax efficiency and planning. A leader in the accounting industry, Mark is dedicated to using his expertise and business acumen to help his peers adapt to the changing accounting landscape.
