An IRS audit can monopolize your time, attention and emotions. But the process takes time—from gathering the documents to that actual office appearance. You still
The 2014 IRS Data Book reports that 1.9 percent of sole proprietors with income under $100,000 and 2.3 percent of sole proprietors with income over
To complete your IRS audit, you must provide supporting records that prove you filed an accurate tax return. But what if you tossed the supporting
Only one percent of all tax returns undergo an audit, reports The Motley Fool. If you’re one of the unlucky few, however, the process can
Even accomplished business owners will want to bring an expert into a Schedule C IRS audit. The process can be scary and intimidating, and it
The IRS can request an audit up to six years after you file your business tax return. During your audit, you must prove that you
As of January 1, 2018, the IRS changed how it audits partnerships and limited liability companies. Intended to make partnership audits easier and more efficient
Just thinking about an IRS audit makes most small business owners feel their pulse accelerate. Horror stories abound, and many of them are true. The
As a self-employed business owner, you can deduct advertising costs, office supplies and entertainment expenses on your tax return. These and other deductions can trigger
The phrase “You’re being audited” may strike fear in your heart, and rightly so. An IRS audit on your self-employed tax return can be time-consuming,
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