Business Activities Detail  and Summary (“BADAS”)

Yes. Perhaps inappropriate. But the title reflects how we approach your tax liability management. Tough, strong, thorough and complete.

And it starts with these Ten Foundation Steps:

  1. Establish a separate business entity: LLC or C Corp
  2. Select a business name and file with Secretary of State
  3. Apply for tax ID with IRS
  4. Establish a separate bank account for your business. It can be a non-businessaccount. But used for business.
  5. Maintain a separate credit card for your business. It can be a non-business account. But used for business.
  6. Keep a cash journal to explain all ATM/cash withdrawals.
  7. Utilize Business Activities Detail and Summary (“BADAS”).
  8. Identify Mixed Use Expenses including cell phone, internet.
  9. Submit monthly BADAS report to EverydayCPA for review, accounting, mixed-use allocation.
  10. Minimize cash withdrawals and cash expenses.