Martin Barretta Client Services Director
Phone: 719-358-8952 (Office)
Mobile / Cell: 719-660-0541 (Cell)
Address:
1980 Dominion Way Suite #100
Colorado Springs, CO, USA
80918
1980 Dominion Way Suite #100
Colorado Springs, CO, USA
80918
"The Top 4 IRS Audit Red Flags Small Business Owners Should Know About...And How To Avoid Them
“Here Are The Top 4 IRS Audit Red Flags Business Owners Need To Know About…And How To Avoid Them
A failure to report substantial amounts of income, such as a shareholder’s failure to report dividends, or a store owner’s failure to report a portion of the daily business receipts.
Red Flag #2:
A claim for fictitious or improper deductions on a return, such as a sales representative’s substantial overstatement of travel expenses, or a taxpayer’s claim of a large deduction for charitable contributions when no verification exists.
Red Flag #3:
Accounting irregularities, such as a business’s failure to keep adequate records, or a discrepancy between amounts reported on a corporation’s return and amounts reported on its financial statements.
Red Flag #4:
Improper allocation of income to a related taxpayer who is in a lower tax bracket, such as where a corporation makes distributions to the controlling shareholder’s children.
To help further protect your business, our firm has prepared a FREE REPORT For you titled:7 Tax Reduction Strategies Most Commonly Overlooked By Small Business Owners"
In need of some good IRS Audit Solutions or Tax Reduction Strategies for your Small Business? Feel free to contact me via email at: mbarretta@asconnection.com or my direct line at: 719.660.0541