In this short video, the speaker outlines four practical steps business owners should follow to protect their tax deductions during an IRS audit. The first rule emphasizes keeping receipts and documenting the business purpose for expenses like meals and mileage, including date, participants, and reason. The second rule advises using a dedicated business bank account to avoid mixing personal and business funds. The third rule recommends storing all records digitally, noting that the IRS can audit up to six years after filing, so accessible records are essential. The fourth rule stresses reconciling books monthly rather than waiting until tax season, which helps catch errors early and preserve deductions. The video concludes with a call to action to download a full deductions list via a link in the bio.
