Good morning everybody or good afternoon wherever you might be my name is Michelle Wong and I'm really glad to have you joining me today today we're going to be talking about using QuickBooks client data review save time cleaning up files so this is something I think a lot of us can use we've got a lot of people who are listening live and yes this will be recorded because it's a sold-out webinar in other words not everybody's going to get in but several people will be able to watch the recording later first of all I want to go ahead and start with a really quick poll question just to see how familiar you are with polls or what hardwood pulp what's the CDR or client data review so how familiar are you with client data review have you heard of it before have you never heard of it and you used it kind of where you at with client data review so if you could take a minute go ahead into that question we still have attendees who are joining us a little bit late but we're very glad to have you so go ahead and take a second to answer that poll question while we're waiting for everybody to to get logged in and join us here today again I will be recording it and glad to have you all here with us while you're answering that poll question I'm going to go ahead and look at the QA room somebody's having computer problems I'm sorry to hear that Jill you might log out and log back in if you're having some computer problems if you are joining us with an iPad or a tablet today you can't answer the poll question so you're not...
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How many years does a cpa have to keep client records Form: What You Should Know
If you cant manage the three-year rule then your firm is asking you to store everything and have nothing to show for it! Tax Return Management: When Must I Keep Tax Returns and Supporting Documents 3 Years? (2018) A common question from clients seeking to retain tax records and/or supporting documents 3 years or more is, What are I supposed to do with my tax records and supporting documents that have been maintained for 3 years or more? What are some alternatives? The most direct answer, and the one our clients typically hear, is that they should just “put it in the computer”! This may sound simple, but we believe this advice is not appropriate. Many records are more valuable to us than the copies they contain. For instance, we have clients, who have accumulated large amounts of supporting documentation but whose tax returns cannot be easily searched or have been destroyed by tax preparation software (TPA) companies. It may be time to start thinking about these materials and how to work with your clients to preserve them. In this blog post we are going to discuss several strategies to help guide your clients on how to preserve their records. The information contained in this publication is intended for informational purposes only and should not be construed as tax advice or a substitute for the advice of your own professional tax adviser/accountant. There are several issues to keep in mind, before you begin to work with your clients to create your own records: What type of taxpayer are you? There are two basic types of taxpayers: 1) You are a business (employer) 2) You are a government/public contractor, which includes individuals providing services for the government The first type includes you as a business; tax preparation is a business. The other type is more common for government/public contractors, which include individuals providing services for the government. So you must be careful about whether you have a business status, whether you must submit taxes to the government, and whether you must retain copies of those records. How do you know if you have to keep tax records and supporting documents for longer than they are needed? The IRS does not provide general information about what constitutes required records retention, but our office, as well as the IRS itself, regularly receives inquiries from clients about these matters. We have provided the following general advice based on that information from our experience.
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