Taxpertise

The Rules of Writing Off Taxable Income

According to the IRS, you may deduct amounts you spend to 'collect taxable income, to maintain, manage or conserve property held to produce taxable income, or any fees you pay to determine, contest, pay, or claim a refund of any tax.' Here's what qualifies.  

Why the IRS Picked You to Audit

There is no magic formula that determines which tax returns will get audited, but there are some issues that tend to catch Uncle Sam’s eye.

Why Your Business Needs Bookkeeping

When you own a small business, it is imperative that you keep a good set of books that are consistently and contemporaneously updated. The tax man will not be satisfied with records that were thrown together at the end of a year.