Your IRS Questions Answered Here…
Question: I’m currently separated from my spouse, who owns his own business, and we are in the process of getting a divorce. I have always filed jointly with my spouse and now the IRS is sending me notices stating I owe $35,000. I have no idea how they are coming up with this amount as […]
What the IRS doesn’t want you to know: Audit Secret
When facing an audit, one is guilt until they prove their innocence. Â Moreover most taxpayers are so afraid of the IRS that they never challenge the exhortation assessment made in the audit. Â This is why you need a representative who knows whether the auditor is being fair and reasonable or needs to be challenged. Taxpayers […]
IRS Updates Publication on Deducting Travel, Entertainment, and Car Expenses
The Internal Revenue Service (IRS) has updated Publication 463 (Travel, Entertainment, Gift, and Car Expenses) for use in preparing 2016 tax returns that are filed in 2017. This publication explains what travel, entertainment, and car expenses are deductible, how to report them on returns, what records are needed to prove expenses, and how to treat […]