Business Tax Articles

4 Posts tagged with the audit tag
Audit Odds:  Are you at risk?  Can you avoid them?

Some valuable advice on how to avoid an audit and what to do if you can't
By Max Berry

Just how much time the IRS will devote to small business audits in the current financial climate remains to be seen, but one thing is for sure: Small business owners have always run a heightened risk of being audited. Some businesses are more vulnerable than others, but knowing how to best avoid an audit-and how to deal with one if one can't be avoided-will only help you come tax seas...

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Seven Year-End Tax Tips

Seven Year-End Tax Tips

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Posted by: SBOCTeam, Dec 2, 2008


By Christopher Freeburn


The autumn leaves are falling, a chill is in the air, holidays are looming, and, for small business owners, it's a good time to think about ... taxes. While no one likes to ponder the intricacies and implications of the Internal Revenue Code, taking the time to do so toward the end of the year can save your business a considerable amount of money come tax time.


So what can you do now?


1. Lower Revenue...

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Five Tax Filing Mistakes To Avoid

Five Tax Filing Mistakes To Avoid

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Posted by: SBOCTeam, Mar 20, 2008

By Barbara Weltman

One of the least fun things about running a business is filing your annual income tax return and paying what's owed. As you embark on this task, don't make mistakes that can lead to needlessly overpaying your taxes or, even worse, becoming the target of an IRS audit.

1. Recognize your vulnerability. There is a $345 billion tax gap the spread between what the government actually collects and what it thinks it should be colle...

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The Do's and Dont's When Facing An Audit

For most small business owners, finding a letter in the mail from the IRS can suddenly unleash a flood of emotions, from fear to anger to guilt to helplessness, and that's even before you even open the envelope. And among all the possible scenarios that can flash through your mind, discovering that you are about to be - gulp - audited, is for most small business owners, far and away the worst. Instead of panicking when the IRS comes calling, arm yourself with the information you need to get thro...

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