by | Apr 5, 2011 | Accounting & Bookkeeping, Books, Business Profit & Cash Flow Tips, Business Success Series, Cash Flow, Cost Cutting, Current Affairs, Income Taxes, QuickBooks, Small Business Owners, Surviving an IRS Audit Series, Tax Tip of The Week
Here are twelve hot spots on your return that can raise the chances of scrutiny by the IRS. By Joy Taylor, Assistant Editor, The Kiplinger Tax Letter www.kiplinger.com/links/auditredflags Ever wonder why some tax returns are audited by the IRS while most are ignored?...
by | Mar 10, 2011 | Accounting & Bookkeeping, Income Taxes, Surviving an IRS Audit Series, Tax Tip of The Week
Ahhh!! Tax Season is in full swings here at the office, so creativity is temporarily taking a back seat. So until we get past our deadline, we will still do our best to post our weekly blog but they will be taken from our tax resources. This one is from QuickFinder...
by | Mar 5, 2011 | Accounting & Bookkeeping, Books, Cost Cutting, Income Taxes, Small Business Owners, Surviving an IRS Audit Series, Tax Tip of The Week
I regularly have conversations with my business owners about meals and entertainment deductions. A lot of business owner’s know they can deduct meal and entertainment expenses they just don’t know when or how to document theses items. First, let’s go over what...
by | Feb 11, 2010 | Accounting & Bookkeeping, Cost Cutting, Income Taxes, Surviving an IRS Audit Series
Many of my clients ask me about the rules regarding meal and entertainment tax deductions. Generally, the only time you are allowed to take this type of deduction is if you own a business. Individual may take these types of expenses as an itemized deduction if...
by | Oct 29, 2009 | Accounting & Bookkeeping, Income Taxes, Surviving an IRS Audit Series
“The IRS is auditing me!! Oh God, why me?” This is the clean version of my client’s first thoughts when they receive their audit report. Then, naturally, they start franticly thinking about their return; if it was done correctly, what the heck did they...
by | Oct 8, 2009 | Books, Income Taxes, Surviving an IRS Audit Series
OK, the IRS auditors aren't as bad as the tattooed, green haired punk trying to take your daughter out on a date. But, if you are a small business owner, it can be just as threatening to your business financial health. First and foremost, the IRS is back and in a...
