Category: Audit

Toshiba Adds More Units to Accounting Probe After Overstated Profits

Accounting can be much like taxes and when it comes to businesses the two go hand-in-hand. Getting your accounting right is extremely important. That’s why we recommend using a qualified accounting firm to handle your books. That includes: preparing financial

Posted in Audit, IRS Tagged with: , ,

Will Fewer Audits Lead to More Cheating?

There’s an old saying that cheaters never prosper. Of course, there are probably many people who have gotten away with cheating that would beg to differ. When it comes to taxes, however, it’s always best to avoid cheating. Surely, some

Posted in Audit, IRS Tagged with: , ,

How Long Do I Need to Keep My Tax Records?

April 15 is one of the most dreaded days of the year for many people, with the possible exception of accountants. However, what happens when all the hoopla of April 15 passes as people wake up on April 16 and

Posted in Audit, IRS, Tax Tagged with: ,

Could a Yacht Be Considered Your Second Home?

They say that a home is where the heart is. However, when it comes to a second home, it can be where your heart is, or just about anywhere else, as far as the IRS is concerned. In fact, not

Posted in Audit, IRS, Tax Tagged with: , ,

Is Your Company in the Market for a Fairness Opinion?

Is that really fair? In my opinion, yes it is. Obviously a fairness opinion is much more than that in the financial and business world. So what is a fairness opinion, exactly? One of the final parts of any sale

Posted in Audit Tagged with: , ,

Seven Signs Your Noncompliance Will Be Considered Willful

There are many ways taxpayers can get the attention of the IRS. Although a lot of people make innocent mistakes when they file their tax returns, there are others who willfully look for ways to skip out on the taxes

Posted in Audit, IRS, Tax Tagged with: , ,

Expecting An Audit? Expect to Wait

Have you ever been audited by the IRS? Have you been told that you might be audited soon? Are you waiting to be audited right now? If you answered yes to any of these questions, then chances are you have

Posted in Audit, IRS Tagged with: , ,

Simple Strategies for Avoiding an IRS Audit

Does the fear of an IRS audit keep you awake at night? Although most people will never have to worry about an IRS audit, those who have been through the process can tell you that it’s something they only hope

Posted in Audit, IRS, Tax Tagged with: , ,

Strategies for Representing Yourself in an IRS Audit

Have you been selected by the IRS for an audit? It’s OK. Relax; you can get through this. Although we advise you to never try to go through an audit by yourself, if you really like a challenge and would

Posted in Audit, IRS, Tax Tagged with: , ,

U.S. Government Could Lose Billions Due to Fewer Audits

There may actually be some good news about tax returns this year. That’s because according to reports, due to budget cuts, the IRS has been forced to reduce the number of audits it will perform. In fact, the IRS Commissioner

Posted in Audit, IRS, Tax Tagged with: , ,