Look at this article in Accounting Today by Michael Cohn about audit results of S Corporation by the IRS:http://www.accountingtoday.com/news/irs-audits-s-corporations-unproductive-taxprotoday-63396-1.html?ET=webcpa:e2742:204199a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_072512If this is the case, maybe everyone should be an S Corporation. Also the IRS may reduce S Corporation audits in the future. If you would like to talk about this, call or email me and we can discuss it.Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
How to Prevent Your Small Business From Being Audited
Well the tax filing season is (almost, if on extention) over, but there are always the dangers of being audited by the IRS or your state. Small business has about a one percent chance of being audited now. To help prevent this, use tax software to prepare your business returns (or a CPA or tax preparer, like me) and make sure you are segregating your business and personal income and expenses. See this article in the Mercury News by Laurie Kulikowski:http://business-news.thestreet.com/story/how-to-prevent-an-irs-audit-of-your-business/11627490?page=3&partner=mercury-newsIf you need your business taxes prepared, call or email me and we can meet and discuss it.Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
Six Facts to Know about the Child and Dependent Care Tax Credit
Do you qualify for the child and dependent care credit (yes you have to have kids to qualify)? Look at this post by the California Society of CPAs Education Foundation for six facts the IRS has released about the credit:http://blogs.calcpa.org/buzz/2012/07/15/six/Take a look and see if you can get this credit.Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035