Veterinary Tax Audit Help

Veterinary Tax Audit Help – How to Survive an Audit

Currently, there are more Veterinarians than ever, searching out veterinary tax audit help, because, as you know, facing the wrath of the taxman is not a pleasant feeling, no matter which line of work you happen to be in. Even veterinarians are not exempt from being audited by the IRS and or the state, and if you are chosen to be audited, you’ll want all of the specialized veterinary tax audit help that you can get. If you work as a veterinarian and have been selected for a tax audit, obviously you will be seeking as much tax help as you can find, which is where we factor into the mix. The offices of veterinary services take a vast array of corporate forms, so in reality they are often fairly large targets for the IRS. Because of this, you may be selected for auditing, in which case veterinary tax audit help will prove very useful. Want to know how to survive an audit? Great, then be sure to check out the following.

Get veterinary IRS tax audit help today 1-877-788-2937

Understand what type of audit you are looking at – First and foremost, when it comes to veterinary tax audit help if you are chosen to be audited, you need to understand what type of audit you are actually looking at. Though there are different types of tax audit, the good news is that many of these audits are fairly simple and pain-free, as it were. Correspondence audits for example, are often letters which are sent to request any proof of positions that have been taken out on a return that the IRS may be asking for. Though this sounds complex, to make it simpler, it could simply be a request by the IRS, asking for proof of purchases relating to your business. If you purchased a new desk for your secretary for example, this letter may ask for proof of purchase for this desk, I.E in the form of a receipt. There are also office audits, or worse still. Field audits, which are more complex, in which case seeking veterinary tax audit help is definitely recommended.

Seek tax help from an expert – If you are going to be audited, don’t even consider representing yourself. You should instantly seek veterinary tax audit help by hiring tax professionals to deal with any tax problem issues you may have. Being audited is scary, but having professionals doing the heavy lifting for you will make your life so much calmer. Remember, they are there to offer you tax help as they deal with matters like tax lien and tax audit issues every working day. By seeking veterinary tax audit help you will be told which documents you will need, what to say, what to do, and what to expect.

Familiarize yourself with your rights – As a US taxpayer, the IRS has been gracious enough to provide you with 10 rights as a taxpayer. If you’re seeking veterinary tax audit help it is advisable that you familiarize yourself with these rights.

Know you can appeal – Though the tax experts you hire will no doubt tell you this anyways, it’s important to understand that you have the right to appeal. Once you have sought tax representation and have found the necessary veterinary tax audit help, you will be told that you can appeal if need be. If the IRS decides that you owe them money, but you feel it is unfair, you can, and should, appeal.

Get veterinary IRS tax audit help today 1-877-788-2937

Demographics of Veterinarians as of December 31, 2003, the American Veterinary Medical Association (AVMA) officially had 70,254 members. This represents 86% of US veterinarians. The membership of the AVMA is further broken down by the following categories: 1,784 Large Animal exclusively (Horse, Cattle, Sheep, Goats, Swine, etc.) 33,658 Small Animal exclusively (Dogs, Cats and other pets) 3,519 Mixed Practice Predominately Large Animal (80% Large/20% Small Animal) 5,855 Mixed Practice Predominately Small Animal (80% Small/20% Large Animal) 827 Bovine Practice exclusive 2,529 Equine Practice exclusive 48,172 Total AVMA members.

Veterinary Clinic Audit Procedures and Records

A thorough understanding of the accounting systems is particularly important in the veterinary industry.

General Procedures for IRS Veterinary Audits:

  1. The first record of customer visits to a veterinarian's office is the Appointment Book. This will reflect the customer’s name, and the date and time of visit. This information should link to the sign in sheet and individual customer account record. This record will be only as accurate as the office chooses to keep it. It may reflect appointments that were cancelled, and no show appointments. It is not an exact record by itself.

  2. The Sign in Sheet will reflect the customer's name and the date of the office visit. It is merely a record of each customer coming into the Veterinary office, as some customers have appointments while others could be walk-ins. This record may not always link to the customer individual account record, as the amount charged each customer is not shown on it, and sometimes there may not be a charge for an office visit, such as for a surgery follow-up visit.

  3. The Veterinary Day Sheet, usually completed for each day, will reflect the date, customer name, customer charges, payments received on the particular day, and the method of payment. Some collections on account may be for a charge prior to the current day. It may also contain a reconciliation of the day's receipts, bank deposits, and checks written as well as the amount of accounts receivable outstanding at the end of the day. Any charge or collection reflected on the day sheet should tie to a corresponding entry on the customer account card. Since the day sheet usually shows all receipts for a given day, it should also reconcile to daily deposits.

  4. A Veterinary Statement of Procedures and Services, the bill prepared at the time of service, will show the charge for each procedure and 3-2 service provided, and will include the date and customer's name. These charges should be directly reflected on the individual customer's account.

  5. The Veterinary Customer Account Card or File will include all charges made to each customer, and all payments received on account. Receipts on account should be reflected in the income accounts of the books, and in bank deposits. Adjustments to the account, such as contractual allowances and discounts, should be reflected in the income or expense accounts of the books.

  6. The Veterinary Bank Accounts will reflect daily deposits, and should include both cash and checks. Generally, deposit slips will reflect the source of the deposit, checks from clients, and credit card receipts. Deposits should be traceable back to a customer account, and collections posted to customer accounts should be traceable to a deposit.

Get veterinary IRS tax audit help today 1-877-788-2937

Mike Habib is an IRS licensed Enrolled Agent who owns and operates a specialized tax service boutique firm serving the Veterinary industry clients in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.

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Veterinary industry Tax representation, tax planning and preparation service help for clients throughout Southern California including El Segundo, Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Newport Beach, Irvine, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley and the San Gabriel Valley.