Talk To An Accountant
She's On The Money
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Navigating Tax Regulations and Audit Concerns
This chapter addresses the misconception of small fish not being targeted by the ATO for tax audits and stresses the importance of honesty in claims to evade audits. It shares a personal audit experience, highlighting that even if tax returns are accurate, they can still be randomly selected for review. Additionally, the chapter explores the possibility of deducting initial business costs against taxes when there are no sales.
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