FAQ: What Are My Chances of Being Audited?

Often, timing is everything or so the adage goes. From medicine to sports and cooking, timing can make all the difference in the outcome. What about with taxes? What are your chances of being audited? Does timing play a factor in raising a decreasing your risk of being audited by the IRS? For example, does the time when you file your income tax return affect the IRS's decision to audit you? Read more...

S Corp's Associates Were Employees, Not Independent Contractors

Despite flexible pay and work arrangements, the Tax Court has found that the president, associate attorneys and law clerk of an S corporation doing business as a law firm were employees and not independent contractors for tax purposes. The court rejected the S corporation's claim that the individuals enjoyed sufficient control over their work to treat them as independent contractors. Read more...

Repeal of Controversial Form 1099 Reporting 

IRS Revises Collection Financial Standards

The IRS has posted updated collection financial standards for use in calculating repayment of delinquent taxes on its web site. These national standards apply to food, clothing, health care and certain other expenses. Local standards apply to housing, utilities and transportation costs. The standards are effective March 1, 2011. Read more...

Estimated Tax: Getting it Right 

Estimated tax is used to pay tax on income that is not subject to withholding or if not enough tax is being withheld from a person's salary, pension or other income. Income not subject to withholding can include dividends, capital gains, prizes, awards, interest, self-employment income, and alimony, among other income items. Read more...

Construction at our building
Please note our building is currently under construction. You will find 'customer only' parking spots on the south side of our lot and continue to use the south or east entrance. Let us know if you encounter any problems.