Accounting Services
- Preparation of financial statements
- Payroll processing and accounting
- Nonprofit accounting
Tax Services
- Individual taxation
- Partnership/ LLC Taxation
- Corporate taxation
- Nonprofit taxation
- Tax problem representation
- International taxation
Quickbooks Software Services
- One-on-one training and consulting
- Group training and consulting
- Inventory setup and management
- Budgeting/Forecasting
- Cash Flow Projection
- Business Plan
Here are a few reasons why business returns are frequently audited:
- Failure to report income (especially Form 1099 income) which has already been reported to the IRS by the payer.
- Claiming expenses not ordinarily incurred in your type of business. For example, a local trucking business claiming foreign travel expenses.
- Claiming large depreciation expense when the business type and income cannot justify the investment. And also, using the standard mileage rate to claim huge auto expense when business activities (gross income) cannot justify the expense.
- Claiming business deduction for contract services or contract labor without filing the compensating Form 1099-Misc with the IRS.
- Finally, a business consistently reporting scanty net profit or huge net losses over some years wherein the owner or manager receives no salary or dividend.