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Category: Audits

3 times summertime fun can mean tax savings

There are some activities that are synonymous with summertime: barbeques, boat rides, and family road trips are a few that often come to mind. In some cases, summer fun can lead to tax savings. Three examples to watch for include: Spring cleaning and donations. Just before summer kicks off, many clean […]

Audits

Small business tax audits: A primer

Business owners must balance their passion for their market with business logistics. Owners must manage their budgets and, at times, navigate human resources issues. In some cases, the owner may even need to navigate a discussion with the Internal Revenue Service (IRS). This conversation would occur if the agency decides […]

Audits

Local tax preparer’s office shut down by feds

The United States Department of Justice (DOJ) continues to crackdown on tax preparation fraud. The government takes the threat so seriously that the Internal Revenue Service (IRS) has listed return preparer fraud as one of its Dirty Dozen Tax Scams. What is the most recent case? The DOJ recently filed a case against […]

Audits

The business interest expense deduction and the new tax law

The new tax law has left taxpayers with many questions. One issue: how will the new tax law impact the business interest expense deduction? The Treasury Department and the Internal Revenue Service (IRS) recently provided some guidance. What is the business interest expense deduction? The business interest expense deduction essentially allowed […]

Audits