Wednesday, August 24, 2016

5 THINGS IRS AUDITORS LOOK FOR WHEN AUDITING A SMALL-BUSINESS - ADVANCE TAX RELIEF - www.advancetaxrelief.com

The IRS training manual tells its auditor that they are examining you, not just your tax return.
The Auditor wants to see how you match up with the income reported on your tax return.
1. DID YOU REPORT ALL OF YOUR BUSINESS SALES OR RECEIPTS? If you know that you "forgot" to report significant business income - $10,000 or more. I'll strongly advise hiring Advance Tax Relief (800)790-8574 or contact your tax pro. For your own safety, remove yourself the process all together because if the IRS AUDITOR find this kind of income and it looks intentional, the Auditor may call the IRS Criminal Investigation Team. Trust me, you will not want your case getting forwarded for criminal investigation.


2. DID YOU WRITE OFF PERSONAL LIVING COST AS BUSINESS EXPENSES? The IRS knows that every small-time operator has likely claimed a personal expense as a business one. For little things, the IRS wont get too excited. But if you deducted $2000 in repairs on your motor home during a trip to Yellowstone. An IRS Auditor may figure this out by looking at your credit card statements- and disallow it, with penalty added.

3. IF YOU HIRE PEOPLE YOU CALL "INDEPENDENT CONTRACTORS" ARE THEY REALLY EMPLOYEES?
Auditors are always on the lookout for employees misclassified as Independent Contractors.

4. DID YOU CLAIM PERSONAL ENTERTAINMENT, MEALS OR VACATION COST AS BUSINESS EXPENSES?
Travel and entertainment business expenses are another area where the IRS knows it can strike gold. Document all travel and entertainment deductions.

5. DID YOU WRITE OFF PERSONAL AUTO EXPENSES AS BUSINESS? Personal use of your business set of wheels is so common that auditors expect to find it. IRS Auditors don't believe you use your one-and-only vehicle for business and never run to the grocery store or the dentist...etc
If you have tax problems or owe the IRS and cant afford to pay, contact us 800-790-8574.

Advance Tax Relief LLC is a full service Tax Relief firm in which includes tax professionals, IRS enrolled agents and Tax Attorneys.
We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit ourwww.advancetaxrelief.com

ADVANCE TAX RELIEF LLC
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Have tax problems? Call (800)790-8574

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ADVANCE TAX RELIEF is not a Traditional CPA or Law Firm. We are Professional Tax Organization of Tax Attorneys, IRS Enrolled Agents, Tax Professionals and Ex IRS employees that help struggling Taxpayers settle or resolve that back tax problems. Call us (800)970-8574 for a free consultation.