Tax Audit Red Flag – Your Ex-Business Partner Sends Letters to IRS.
While there is no sure way to avoid an IRS tax audit, paying attention to these tax audit red flags can decrease the chances of your dental practice receiving unwanted attention from the IRS. Continue reading
Make QuickBooks Yours in 2014: Customize
QuickBooks software is used to help manage finances at small businesses including dental practices. It can be used as is (with some exceptions), but you can customize many elements to improve your workflow, your form output and your dental business insight.
While many of the things you purchase and use in your daily work and professional dental lives don’t come with options, many do. Think about the last time you bought a car, for example. Did you request additional features for safety or convenience or aesthetic value? Continue reading
Tax Audit Red Flag – You Have Assets Overseas.
Most people would rather pay a visit, fee and all, to the proctologist’s office than endure an IRS audit. In fact, many would agree that proctologists are kinder and friendlier than the average IRS auditor. Knowing the red flags that trigger audits may not prevent all audits, but it can help you invite less IRS scrutiny or unwanted attention.
In recent years, the IRS has turned its focus to US accounts in foreign banks. Where US citizens once set up tax shelters by banking in places like Switzerland or the Cayman Islands, new laws now levy substantial fines for failing to report holdings in foreign banks. Continue reading
Follow Us!