All Entries Tagged With: "Audit"
Why Your Business Needs A Telecom Audit
There is a very clear reason that so many new technologies appear every year – new technologies help keep businesses competitive and successful. As computers grow ever more capable and inexpensive, businesses continue to take advantage of them. This causes the tech industry to continually come up with new models, in an incredibly profitable feedback [...]
Medicare Audit Is Coming To Your Practice: Are You Ready?
So you got the notice…the Medicare RAC is coming to your practice. No big deal? Think again. The Medicare audit
of all beneficiaries of Medicare payments ( i.e. – those who file claims with Medicare ) is here to stay and if your
practice is out of compliance, it could end up costing you thousands of dollars. [...]
Avoid an Audit! Become an S-corporation!
Many business owners believe that the best way to avoid paying excessive taxes is to exaggerate their deductions or to not declare all of their income. WRONG!! In fact, these are the “RED FLAGS” that often trigger the Internal Revenue Service to audit your tax return to begin with. What a nightmare! [...]
How a Full Network Audit Could Benefit Your Business
As the backbone of your organisation’s information technology infrastructure, your IT network needs to be kept at optimum performance level. Productivity and profit could be lost, not to mention customers and staff, if your IT is creating work for everyone instead of reducing it, by failing to provide the efficiencies it was designed for, [...]
How a Full Network Audit Could Benefit Your Business
As the backbone of your organisation’s information technology infrastructure, your IT network needs to be kept at optimum performance level. Productivity and profit could be lost, not to mention customers and staff, if your IT is creating work for everyone instead of reducing it, by failing to provide the efficiencies it was designed for, [...]
Top 10 Tips to Avoid an Irs Audit for 1040 Form Filer
A taxpayer is unlikely to get audited by any one of the below ways alone, but a combination of two or more of below is definitely inviting the IRS to audit you!
1. Unreported income: Remember any company whom you work for has to by law provide you with either W-2 or a 1099-Misc or [...]
Three (3) Things You Can Do to be Prepared for an Audit
The number of IRS audits increased in 2007. See my recent article “IRS Ramps Up Audits” to read more about what is causing this increase and who is targeted. What can you do to be prepared?

#1 Build a defense for your rental real estate losses.

While the IRS has not specifically targeted returns that [...]
Accounting and Audit Exemptions for Small Companies in the UK
To qualify for being able to file shortened accounts a small company should satisfy at least two of three conditions. The three exemption conditions prior to April 2008 were that annual turnover is less than 5.6 million pounds, balance sheet total is less than 2.8 million pounds and the average number of employees is less [...]
Tax Audit Advice For Small Businesses And Investors
The most overlooked management tool in the average small business is the bookkeeping – until the Income Tax service calls for an audit. Then the small business owner is left scrambling to gather up their records and try and organize them in a professional manner. This is often ‘too little too late’ for most business [...]
Audit Triggers – How Does the IRS Decide Who To Audit?
With the tax clock ticking down lots of people are finishing up their tax returns. A common question that comes up during this joyous time of year is, “How can I avoid an audit?” Fortunately for most taxpayers the question is far more common than an actual audit. Only around 1% of [...]
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