Powell’s Accounting and Bookkeeping

Powell’s Accounting and Bookkeeping Company specialize in tax preparation, business bookkeeping, sales tax filing, use tax filing.

03/27/2026

📘 Friday – Math Errors & Inconsistencies

Simple mistakes—incorrect calculations, mismatched totals, or inconsistent reporting—can trigger notices.
Even small errors can lead to bigger reviews.
Always double-check before filing.

03/26/2026

💡 Thursday – Claiming 100% Business Use

Claiming 100% business use of:
• Vehicles
• Phones
• Home office

…can raise scrutiny if it’s not realistic or well-documented.
Be accurate and reasonable with your percentages.

03/25/2026

📈 Wednesday – Misclassified Workers (Business Owners)

Treating employees as independent contractors incorrectly is a major red flag.
The IRS looks at control, behavior, and relationship—not just how you label them.
Proper classification protects your business.

03/25/2026

📊 Tuesday – High Income with Low Reported Activity

If reported income doesn’t match your lifestyle or business activity, it can raise concerns.
For example: high deposits but low reported income.
Your return should reflect a clear and consistent financial story.

03/23/2026

💼 Monday – Filing Late or Not Filing

Consistently filing late—or not filing at all—can increase IRS attention over time.
Even if you can’t pay in full, file on time to reduce penalties and stay compliant.
Filing shows effort. Avoiding it raises questions.

03/20/2026

📘 Friday – Rounding Numbers

Returns filled with perfectly rounded numbers (like $5,000, $10,000, etc.) can look estimated rather than documented.
Using exact numbers from receipts and records adds credibility to your return.
Accuracy builds confidence in your filings.

03/19/2026

💡 Thursday – Large Cash Transactions

Businesses that operate heavily in cash sometimes face additional scrutiny.
Inconsistent reporting or unexplained cash deposits can raise concerns.
Accurate bookkeeping and consistent reporting are essential.

03/18/2026

📈 Wednesday – Repeated Business Losses

Businesses that report losses year after year may raise questions.
The IRS may examine whether the activity is truly a business or a hobby.
Businesses should show a clear profit motive over time.

03/17/2026

📊 Tuesday – Excessive Deductions

Deductions that appear unusually high compared to income can attract attention.
This is especially common with:
• Charitable contributions
• Business expenses
• Home office deductions

Make sure deductions are legitimate and well documented.

03/16/2026

💼 Monday – Unreported Income

One of the biggest audit triggers is income mismatches.
If the IRS receives a W-2 or 1099 that isn’t reported on your return, their system usually catches it automatically.
Always reconcile your income forms before filing.

Address

Service Area:
Green Cove Springs, FL

Opening Hours

Monday 9am - 5pm
Tuesday 7am - 9pm
Wednesday 7am - 9pm
Thursday 7am - 9pm
Friday 7am - 9pm
Saturday 7am - 9pm
Sunday 9am - 8pm

Website

Alerts

Be the first to know and let us send you an email when Powell’s Accounting and Bookkeeping posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Powell’s Accounting and Bookkeeping:

Shortcuts

Share

Category