Tweet “The IRS has initiated a new examination program for small businesses in the past year. This is affecting all examinations of small businesses if they use any electronic accounting software.” As a QuickBooks®consultant, I am here to help you understand the issues and assist the small business client in preparing for the examination. ‘The typical [...]
IRS Will Request QuickBooks (and other electronic) Files During An Audit
January 24, 2012 By Leave a Comment
YOU vs. IRS: Depreciation – Cost “Allocation” v. Reality
July 9, 2011 By Leave a Comment
Tweet S took depreciation deductions for his buildings (rental properties) but not land. The basis (depreciable cost) of each building was based on allocation of value to the buildings v. the land made by his tax preparer. The IRS disputed the allocations and reduced the deductions, claiming too little value was allocated to the land. [...]
YOU vs. IRS: Who Pays If You Make A Mistake?
May 4, 2011 By Leave a Comment
Tweet In terms of employment taxes, this depends on whether you are a “responsible person”.” Although this case involves a company owner/president, if you are a responsible person, you could find yourself in a similar fix. The case: G was the president and treasurer of a corporation primarily run by him, his wife, their son [...]
YOU vs. IRS: When bad records can—and can’t—be overcome
March 29, 2011 By Leave a Comment
Tweet Case 1: J was a loan officer for a mortgage broker and had a deal with a loan processor who generated most of the business. Because the processor did not have a license, J’s name was on the loans, and all commission checks from the broker for loans generated by the team were in [...]
