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Posts Tagged ‘Books and Records’
4 Easy Ways for Taxpayers to Take the Hippocratic Oath
All Physicians must take the Hippocratic Oath. This is an oath where they swear to practice ethically. Although there is some debate about the translation, the main theme is, ‘First, Do No Harm.’
All taxpayers need to take the Hippocratic Oath so they do no harm with their tax plan.
The Difference Between The Standard Mileage Method and Actual Expenses
The Internal Revenue Service (“IRS”) allows taxpayers to choose between the Standard Mileage Method and Actual Expenses.
Standard Mileage Method The IRS allows taxpayers to deduct a standard mileage method for business travel. The current allowance is for 55.5 cents per mile. This allowance is updated periodically to reflect changes in gas prices and other changes. Keep in mind this allowance is just for business travel. … Continue reading »
How to Survive an IRS Audit from Hell
Recently we helped a client survive an Internal Revenue Service (“IRS”) Audit. Ultimately, we got a very good outcome. The taxpayer owed $219. That's as close to "No Change" as you can get!
The Difference Between an IRS Field, Office and Correspondence Audit
If you are audited by the IRS, the audit will either be a field, office or correspondence audit. You should not represent yourself in an audit; you should hire a CPA, Tax Attorney or Tax Preparer to represent you. Remember…the IRS has the right to audit a return within three years from the due date or filing date.
