to IBO Bookkeeping 101
'Tis the season for many things. Holidays and get-togethers with family and
friends, of course. It's also a season of added income potential for many businesses.
Yet, it also means the annual tradition of "tax time" is lurking around
the corner. To help you navigate your way through the somtimes choppy and uncharted
waters of the tax code, the IBOAI recommends a resource prepared with you in
mind: IBO Bookkeeping 101. This guide is essential for dealing with tax
issues and your business, and it's available in U.S. and Canadian versions.
IBO Bookkeeping 101 offers simple yet top-notch advice on how to properly maintain
your records while building your business. Failure to keep adequate records
can be a costly mistake that you can avoid by following the stpes in this gude
and, when necessary, consulting a professional tax adviser, preferably a CPA,
who understands our business.
The author, Joe DePetris, is a CPA who's worked with thousands of IBOs - from
those just getting started to those at the Diamond level and above. His efforts
can save you time and money by providing the resources to maintain records of
your business activity that satisfy the requirements of the Internal Revenue
Service and Canada Revenue Agency. In this guide, Joe shares with you the same
insights he offers to his clients.
How do you get your copy? Many IBO organizations make it avilable. You can also
learn more about the guide and order it through the
As your representatives on the IBOAI Board, we're committed to protecting and
improving the business-building opportunity for all IBOs. We hope this guide
is helpful to you as you build your business.
Click to download the IBO Bookkeeping 101 Guide
More Tax Tips for IBOs
By Joe DePetris, Jr., CPA
Tax Consultant to the IBOAI Board
IBO Reports Clean Bill of Health from IRS – Thanks to Joe DePetris, Jr.
One of the resources the IBOAI considers solid gold for our Members is our Tax
Consultant, Joe DePetris, Jr., CPA. An IBO’s positive experience during
a recent IRS audit bears this out.
Says Kecia S, “My audit appointment was on April 2, 2009, and was completed
in half the allotted time. I also walked away with multiple complements and
no changes to any of the four years examined.” She adds, “ALL of
the credit (edification) for how I ‘keep my books’ belongs to Mr.
Joe DePetris, a Certified Public Accountant with over 30 years of experience
and officially the Tax Consultant to the IBOAI Board, authored our IBO Bookkeeping
101 and writes the Tax Tips for IBOs you’ll find on the IBOAI website.
He is also available for individual consultations (see the IBO Bookkeeping 101
page for contact information).
Those who have relied on his advice agree with Kecia, who says: “Without
Mr. DePetris instructing the IRS on how to audit IBOs and teaching IBOs how
to properly report and document their businesses, it would be ‘devastating’,
to say the least, to receive an ‘examination’ letter from the IRS.”
She concludes, “Thank you again for providing Mr. Joe DePetris as a resource
to IBOs. I SINCERELY appreciate being able to have him as an integral part of
my Amway Global business.”
We think you’ll find Joe DePetris’s advice solid gold, too. You
can begin by using Joe’s IBO Bookkeeping 101. He’s a resource you
can use with confidence.Learn more about Joe DePetris, Jr., and IBO tax return
preparation and tax issues at IBO Bookkeeping 101.
more Tax Tips for IBOs from Joe DePetris, Jr., CPA.
This article is provided as an educational resource for your guidance, and is
strictly informational. It does not constitute legal, accounting, or other professional
counsel. Nothing included herein implies a recommendation by the author, the
IBOA International, or Amway Global, of any course or method of regulatory compliance.
Readers and users who intend to take, or refrain from taking, any action based
on information contained herein should first consult with their qualified tax
advisor, preferably a C.P.A., or appropriate regulatory authorities.