May 9, 2012 -- Keeping records of bank statements and receipts for travel, entertainment, and mileage can make that dreaded audit process easier on your firm. In this video, Milwaukee attorney Douglas H. Frazier offers tips on maintaining good records. (Did you know electronic receipts are okay?) He discusses which records to keep and the appeals process if you are not happy with the results of the audit. Frazer is a shareholder in the Metro Milwaukee office of DeWitt Ross & Stevens SC, focusing his practice on tax litigation and controversy. Read Frazier's Wisconsin Lawyer article, "A Lawyer's Guide to IRS Audits of Lawyers" (bit.ly published in the April 2012 edition. In it he helps you prepare for an audit by looking at it from the government's point of view.
http://www.youtube.com/watch?v=ztExtBuU-lM&hl=en
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