Hoooray my audit starts today!
 

How lucky am I to have been randomly selected for a federal tax audit. The dude is on his way to my office now.

Thankfully I have nothing to hide but it's still like getting a root canal.

Should be an interesting day nonetheless.

damn that sucks man ...

stay strong :)

let us know how it goes :)

heres to hoping i never have to endure one!

Brad, keep that guy away from my office that is where I keep all the dead hookers ;)

DH

Good luck. I had nothing to hide either, but that didn't stop them from a full 2 year investigation of my company. hehe. Be *very* careful when you answer their GST questions and make sure you don't give away too much info!

Was good seeing you this weekend too Brad :)
WG

Mark, too late. I let him sit at your desk with my books and he knows all about you now. He said you're next buddy!

WiredGuy

I am lucky enough to have been through the mud with GST already. This is a federal tax audit and he told me he doesn't care about GST. It was good to hang with you too this weekend :)

Funny thing was that he told me that if I were involved in ANY illegal activity he was not allowed to report it to the police. Even CP!!! He said if you are paying tax on illegal revenue they are happy. I was shocked to say the least.

In a nutshell any info collected under the income tax act can not be shared. This guy said he has even audited biker gangs that sell drugs. They don't care as long as they get their share.

Oh yeah did I mention he is in the office all week!

One of his first questions was "Is that YOUR Mercedes parked outside?"

Yes it is and no I don't pay for it through the company.

I've been through both as well, the GST one is a walk in the park compared to the federal audit. Just make sure your accountant is in on the loop from the very beginning and you should be fine. Hopefully you didn't expense more than 2 conventions per year, that one killed me!

WG

The key is calling them "trade shows" and not "conventions". We are allowed as many trade shows per year as we can handle. Conventions has a limit of 2. How dumb.

aww! Have a nice cold beer after that fun afternoon! Good luck!

Everything changed from convention to business meeting for me :)
Like the business meeting we had on Saturday :)

WG

That was a VERY productive business meeting :)

When you get your papers for a tax audit, on the week that it is set for, call and reschedual. Then do the same for the next one. And on the third, they usually tell you how much to pay.

When you run a clean business there is no need to jerk these people around. I would much rather co-operate and work with them to make sure they are doing a good job assesing the numbers.

You catch more flies with honey than vinegar IMO. Not to mention I will feel much better the second this is done and I can get back to real business.

Very true, it felt soooo good when at the end of it all, they ended up paying me money! Although no apology from them, no nothing. Bah, Cayman is looking nicer and nicer every day :)

WG

We are pretty conservative with our expenses, write offs etc. My hope is that we come out with a refund too.

To be fair this guy has been very nice and easy to deal with so far. I expect this to be pretty smooth.

Man, that sucks. Hang in there.

I see an audit coming along this or next month as well ...