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In 1990, as in previous years, petitioner maintained the
financial records for his locksmith business and prepared the
Schedule C for the business as well as the rest of petitioners'
joint Federal income tax return. Petitioner did not hire an
accountant, return preparer, or anyone else to help him maintain
his business or financial records or prepare the tax return.
During 1990, petitioner used two different computer
accounting systems to maintain his financial records. He
personally made all entries into both systems.
Petitioner first used computer accounting system software
called Managing Your Money (MYM). From January 1, 1990, until
approximately July 15, 1990, petitioner entered expense items
into the MYM system on his computer.
After using MYM for a time, petitioner discovered that it
did not perform tasks he felt were necessary for his business.
To remedy this situation, a second computer accounting software,
DAC Easy (DAC), was installed on petitioner's computer prior to
July 15, 1990. Petitioner was then able to use either MYM or
DAC. From approximately July 15, 1990, to December 31, 1990,
petitioner entered his business expenses into DAC, and he no
longer made entries into MYM.
Thus, at the end of 1990, petitioner essentially had two
separate expense records, one on MYM and the other on DAC.
Neither the MYM nor the DAC expense records were complete. MYM
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