An audit can be both an alarming and bothersome time for a business. Here are some simple and helpful steps from the Commissioner of the IRS to make the process go as smoothly as possible. These suggestions are especially useful to small and medium sized businesses. How to Maneuver the Audit Process: 1…. Continue reading →
Audit
7 Ways to Guarantee an Audit
As the National Debt grows, the IRS has become increasingly vigilant with enforcing taxes. Therefore, returns that could have been accepted in prior years may now be flagged for an audit. Even small mistakes can influence whether or not you are audited. Here are 7 ways to guarantee an audit: Your income is suspiciously low… Continue reading →
IRS Audit Red Flags – What the IRS is looking for – Tax Tips Part 3
Are you self employed? Do you file a Schedule C? If so, you have a higher likelihood of getting audited. Individuals and small business often make small mistakes that flags their tax return for an audit. Taxes are no place to falsify information but small mistakes and common practices such as rounding numbers can give an IRS… Continue reading →
IRS Audit Red Flags – What the IRS is looking for – Tax Tips Part 2
The Federal Budget Deficit is a large concern and the IRS has become more vigilant with tax enforcement. The IRS is already paying more attention to returns that might have been passed over for an audit in years past. With more audits occurring, more and more people are concerned about making small mistakes that might flag their tax return for an audit. Taxes are… Continue reading →
IRS Audit Red Flags – What the IRS is looking for – Tax Tips Part 1
Most people have a great fear of getting audited. Audits can be long, expensive and can require a lot of supporting documentation and professional guidance. There are actually three types of Audits that an individual or business can experience, a field, office, or correspondence audit. Each comes with a different set of requirements to find a tax resolution. Of course the… Continue reading →
IRS Itemized Deductions and Volunteer Work at Schools
Interesting questions come up everyday at our tax firm. On the mind of many parents particularly those with part time or full time self-employment, relates to how their volunteer work for their child’s school might affect them from a tax standpoint. Now that is October, children have settled into their classrooms and many schools have… Continue reading →
