Our client, a serial entrepreneur with multiple businesses and entity structures, relied on QuickBooks Live Bookkeeping and an H&R Block tax accountant—two services that did not coordinate. This lack of collaboration led to over \$70,000 in back taxes owed to the IRS and state authorities.
Our accountant conducted a comprehensive review of the past three years of financial transactions, recategorized expenses, and identified previously unclaimed business deductions due to commingled funds across entities. Our IRS Enrolled Agent amended the tax returns, eliminating all IRS liabilities, securing a \$21,000 refund, and reducing the client’s state tax liability by \$23,000.
Following the resolution, we began providing ongoing accounting services. We reorganized the client’s chart of accounts to deliver structured, audit-ready financial reports that support informed and profitable business decisions.