Congratulations on your decision to make your dream of owning your own pizza parlor a reality. You have Grandma Rosso's secret recipe for the world's best pizza, you have a prime location and have invested in only the finest pizza ingredients and equipment. You better make sure you're giving Uncle Sam his fair slice of that yummy pie.
If you are operating a privately owned pizza restaurant, I have some sobering news for you.
You are seventy-two times more likely to have to endure an IRS tax audit than your biggest competitors like Pizza Hut, Papa John's or Dominos. That just doesn't seem fair, does it?
The good news is that tools are available to you that will level the playing field. We have an IRS tax audit guide specifically for the owners of pizza restaurants.
The well-trained IRS auditor already knows that pizza restaurant owners are not good record-keepers. They are going to use this to their advantage. They know exactly what questions to ask and based upon standard formulas they have already obtained, they know what your answers should be. The IRS Tax Auditor will know, without a doubt exactly how many 16" pizzas can be made from one pound of pizza dough. And that's just the beginning.
A Few Areas Of Concern
- Do you take cash out of the drawer to pay for your personal living expenses?
- Do you take cash out of the drawer to pay for legitimate business expenses?
- Do you keep your old cash register tapes to back up an audit?
- Do you have relatives working with you in the business?
- Do you have employees that are being paid "off the books?
- Do you have documentation concerning business expenses such as the pizza oven?
- Did you know that you have to keep your old menus to present to the auditor?
...And there's more!
