Category Archives: audit

Five home office deduction mistakes

If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the … Continue reading

Posted in audit, Business, business help, Business Owner, deductions, Filing Taxes, New Business, Operational Accounting, real estate, record keeping, save on taxes, Tax, tax advice, tax exempt, Tax Fraud, tax planning, Tax Return, taxes, Uncategorized | Tagged , , | Leave a comment

Don’t assume it’s correct, just because it’s the IRS

Quotes from actual IRS correspondence received by clients: “Our records show we received a 1040X…for the tax year listed above. We’re sorry but we cannot find it.” “Our records show you owe a balance due of $0.00. If we do … Continue reading

Posted in audit, Filing Taxes, Financial Planning, IRS Articles, Penalty, record keeping, Tax, tax advice, tax bill, Tax Return, taxes, Uncategorized | Tagged , , | Leave a comment

Two facts about your chances of being audited

Your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals two interesting and reassuring facts about the risk of an IRS audit. One of these facts is that audits … Continue reading

Posted in Amended Tax Return, audit, Tax, tax advice, tax bill, tax exempt, Tax Fraud, Tax Return, Uncategorized | Tagged , , , | Leave a comment