Business Law (19)
Customer Service (12)
Family Business (4)
Human Resources (27)
A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
What IRS Auditors Look For
As an entrepreneur, you may have or know someone who has been audited by the IRS. If an audit is in your future, stay calm and understand what the auditor will be looking for…
1) Did you report all of your business sales or receipts?
2) Did you write off personal living costs as business expenses?
3) Does your lifestyle square with your reported income?
4) Did you take cash or otherwise divert income without declaring it?
5) Did you write off personal auto expenses as business?
6) Did you claim personal costs as business expenses?
7) Are you filing payroll tax and making tax deposits for employees?
8) If you hire people you call “independent contractors,” are they really employees?
Related Small Business Buzz Posts:
IRS Audit Triggers
A New Way for Employees to Get Paid
The Right Way to Write-Off Business Expenses (Part 1)
Last Minute Tax Tips