Generally, the IRS only audits less than 2% of all filings and focuses on tax returns that have a large amount of deductions relative to the reported profit. There are ways you can avoid triggering an IRS audit. Take a look…
When starting your own business you plan your accounting system carefully and may even hire a CPA to help you establish your taxation records. You have been careful about taking deductions. You even have all of the IRS tax codes for small businesses memorized. Despite all of this effort, you get the notice. The large white envelope in the mail that reads Internal Revenue Service. As you gulp, you open and discover that you are being audited by the Internal Revenue Service. Now what do you do?
Many business owners often plan marketing strategies, location, demographics, and other key business functions, but neglect to carefully review taxation issues upon their business inception. Failure to do so has caused many business owners to pay more in taxes than necessary or not pay enough taxes that
Government regulations of small and big companies must be adhered to so as to ensure its continuity and to ensure solidity of business. It is advisable for companies to familiarize themselves with the applicable regulations, such as Sarbanes-Oxley, and to hire someone to advise them. These government regulations include:
There was once a song about battling the law and losing. Fortunately, battling the IRS is possible and sometimes inevitable.
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March 9,10,11,12 and 13, 2012 at South by Southwest, the annual music, film, and interactive conference and festival held in Austin
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