SELF EMPLOYED? YOU'RE A PRIME IRS AUDIT TARGET
Because the IRS claims that most tax cheats are self employed, it is
not surprising that this group is more scrutinized than wage earners.
The IRS Small Business/Self Employed Division is the biggest of all with
at least 40,000 employees.
When you own a business, know that the IRS is watching. The three major concerns of the IRS are:
1. Are workers wrongly classified as independent contractors when they are legally employees?
2. Is the business making payroll tax deposits?
3. Are all transactions-especially large cash transactions- made to the business being reported to the IRS?
If the IRS choose to come after you by way of an audit- or worse, a
criminal investigation- be aware that it can easily get to your bank and
other financial records. So, if you've been foolish enough to deposit
unreported income in your bank account, the IRS can find it.
If you are audited, the IRS will want to know:
1. Did you report all of your business sales or receipts?
2. Did you write off any personal living expenses as business expense?
3. Does your lifestyle apparently exceed the amount of self-employment income reported.
4. Did you write off automobile expenses for travel that was not business related?
5. Did you claim large business entertainment expenses?
If you are self employed and audited, give us a call today at 1(800)790-8574 or contact us via www.advancetaxrelief.net
ADVANCE TAX RELIEF LLC - We Solve Tax Problems
8449 W. Bellfort, Suite 356
HOUSTON, TX 77071
PHONE: (800)790-8574, (713)300-3965
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