Business Audit Seminar Draws Close to 100

Exact Tax Inc., in partnership with AAEDE

(Asian American Economic Development Enterprise), held its first Business Audit Seminar on Friday, October 7th at Almansor Court in Alhambra. The seminar drew close to 100 attendees to learn how to protect yourself in the event of a tax audit.

Assemblyman Ed Chau shared the opening remarks followed by the presenters. Speakers from the Internal Revenue

Service (IRS), Employment Development Department (EDD) and Board of Equalization (BOE) participated and shared insights on tax audits.The guests were invited to ask questions to the panel to clarify areas where they may be struggling.

Amie Kumkom with EDD provided tools on how to identify a W2 employee vs a 1099 independent contractor, something that small businesses are often faced with and Tami Pistoni with BOE shed light on which products/services are taxable.

“Anyone can go to an audit seminar, says Mary Wong, EA and President of Exact Tax. But I decided that I wanted to make this event unique and inclusive. Not only did we have presenters from different agencies, but as an accounting professional, I shared my perspective on audits.AAEDE invited me to moderate and ask questions to the panel that our guests could connect with. Our attendees were also invited to present their questions and there was interaction as a group and not just teaching. It’s about letting the client know you care and you do that by sharing knowledge.”

“The information provided was detailed and we were invited to participate which kept my attention,” said one attendee.Another guest shared,“We didn’t realize how much we didn’t know.”

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