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“Family Businesses Should Take These Steps to Survive IRS Scrutiny”

July 1, 2023

Jasen Hanson’s article, “Family Businesses Should Take These Steps to Survive IRS Scrutiny,” in Bloomberg Tax

Bloomberg Tax

Family owned and operated businesses need to be aware of their tax obligations and must document expenses and other business decisions to avoid being blindsided by the IRS, Atlanta-based Shareholder Jasen Hanson explains in an article that published in Bloomberg Tax on June 20, 2023.

“An IRS examination can be an all-consuming distraction at its best and a world-destroyer at its worst,” writes Hanson. “By understanding and avoiding common pitfalls, family businesses can ensure their legacy lives on.”

He further explains that although it may often be difficult to separate business from family, for companies that want to survive IRS scrutiny, running the business like a business remains an essential first step.

To learn more, you may view the full article here.