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Posts Tagged ‘IRS Audit’
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.
6 Easy Steps to Navigate an IRS Audit and Save You (Tax) Money
1) Determine if this is an IRS Field, Office or Correspondence Audit
With a Field Audit, the audit will be done at your place of business. Most taxpayers requests that the audit be moved and done at your CPA's office. The auditor however still has the right to visit your office.
In an Office Audit, the audit will be done at the local IRS office. … Continue reading »
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 »
What Not To Wear…To an IRS Audit
On TLC's What Not to Wear Stacy and Clinton give a 'make over' to some lady that is, well…not dressed so well… Taxpayers that are being audited need to make sure they are putting their best foot forward right at the start of an IRS audit.
Field, Office and Correspondence Audits
The first thing a taxpayer needs to understand is The … 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!
