At McCullough & Associates, LLC, we make it our business to analyze your financials and turn them into accountable, accurate, and timely reports so that you know where your money is taking you. You can count on our staff to produce an pinpoint accurate picture of your resources, and we can even discuss the reports with you and help you plan accordingly.
McCullough & Associates, LLC has a team of certified public accountants to help you every step of the way. Let us worry about your accounting reports, so you can get back to what you do best.
Are you keeping your records long enough to withstand an audit?
Taxpayers often question how long records must be kept and how long the IRS has to audit a return after it is filed. It all depends on the circumstances! In many cases, the federal statute of limitations can be used to help you determine how long to keep records. With certain exceptions, the statute for assessing additional tax is 3 years from the return due date or the date the return was filed, whichever is later. However, the statute of limitations for many states is one year longer than the federal.