No one may like dealing with taxes, especially those flipping San Diego homes with the intentions of living an entrepreneurial lifestyle. To many, taxes are an annual burden that should be done away with. However, all of your hard work will mean nothing if you lose your profits to the IRS for neglecting to have the required paperwork. Good records make the tax process a lot less stressful and time consuming. Accordingly, good bookkeeping facilitates maximized deductions and write-offs. Perhaps even more importantly, well-kept records protect you during an audit. If you do get audited, and especially if you have been slacking on filing income taxes, you will likely lose the opportunity to claim all of those deductions.