Many people avoid taking legitimate deductions because they fear the IRS. The IRS has become much more aggressive lately, instituting new audit techniques and methods to deny many of your tax benefits. The IRS has increased enforcement, taking it upon themselves to balance the federal deficit from you, the taxpayer.
The IRS is also challenging more small corporations, denying tax benefits and reclassifying many as partnerships, because the corporate officers did not fulfill their annual compliance duties, thereby subjecting the owners to Self-Employment Tax and possible loss of their asset protection.
We can help educate you, whether you are a corporation, LLC, sole proprietor, or filing as an individual. We believe that you should take every tax deduction allowed under the law, but we also want to educate you on the proper recordkeeping needed to pass IRS scrutiny, to protect your tax benefits.
The Tax Code is merciless IF all of the rules are not followed, the IRS can deny your deductions or your pre-tax benefits. It is important that you know what types of records need to be in place in order to withstand an examination by the IRS.
The IRS is ruthless and does not care that they have just devastated you financially; they are The Collection Service for the government, but are not required to include the small print warning: We are a collection agency, what you say to us will be used against you.
Our tax compliance education keeps five goals in mind:
- Operate as much as possible under the IRS radar, i.e., do not bring undue attention to your business.
- Structure your business and deductions in a manner to utilize as many of the tax-favorable laws that are in place, thus keeping your taxes as low as allowed.
- Convert money that you are already spending on expenses into pre-tax business deductions.
- Maintain your documents, agreements, and recordkeeping clean and organized, so that when the IRS comes calling, we will be able to defend every deduction and tax strategy you used.
- Keep all compliance requirements up to date to minimize taxes, assessments, and penalties, and to prevent the IRS from undoing your tax-favorable business structure (which would increase your taxes even more).
Our Tax Compliance Education will cover
- What is the best overall tax structure for my business?
- How do I get the best tax deduction for my expenses?
- Should my business own the work vehicle?
- What's the best tax result to dispose of my work vehicle?
- Tax Court approved method for better corporate home office deduction
- How do I structure a medical expense plan?
IRS Audit Compliance
- Lower your chance of an audit
- Recordkeeping to withstand an audit;
- Proving Income; supporting troublesome expenses
- Travel, meals and entertainment expenses
- Recordkeeping templates for better tracking of expenses
- Hiring spouse, children or relatives
- Best way to deduct medical expenses & more....
- Pre-tax benefits for you and your family