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TaxAudit Reviews Tips to Avoid Triggering an Audit on Your Small Business

Source: Unsplash | CoWomen Operating a small business of your own can be both fulfilling and frightening all at the same time. One the one hand, you have the opportunity to take control of your career and work for yourself. On the other hand, you boost your likelihood of becoming the target of an Internal Revenue Service (IRS) audit, according to the experts at TaxAudit, which has received a number of positive audit defense reviews. Here are a couple of things to avoid doing if you want to lower your chances of having the IRS come knocking at your door.…

Audit Defense Reviews Indicate Common IRS Audit Triggers

The Internal Revenue Service (IRS) has just sent you a letter saying that you are being audited. Suddenly, your heart drops, and you break out in a sweat. “Why in the world am I being audited,” you ask yourself. Unfortunately, based on audit defense reviews, certain tax-filing mistakes can easily trigger an audit by the IRS. Here are three core triggers to watch out for going forward. First, making a math error can spell big trouble with the IRS. So, make sure that you don’t write an “8” when you’re supposed to be writing the number “3,” for example. Yes,…

Don’t forget about your tax itemizations this Summer! 

Summer is a time of change and transition for many American families that take advantage of this time to make some significant life changes – whether it be moving to a new city or buying a home. This is especially true for families with school age children as they can take advantage of this time to schedule their home buying, relocating, and even home remodeling to the summer months while school is out. These summer events could have significant tax implications for those that itemize their deductions. Due to the new tax laws that have resulted in less taxpayers itemizing…

How Old Do You Have to be to Receive an EIN?

Believe it or not, this is an extremely common question. Your EIN is your employment identification number and you can apply for this at any time regardless of how old you are. So, whether you are retired and looking to make your hobby into a job or recently graduated from college trying to form a business, you will need to fill out an application to receive your EIN or tax id number. By going to the website IRS-EIN-Tax-ID, you can fill out the application and see all the steps you would need to take to receive your tax id number.…

Speed Up The Process of Getting Your EIN

You have formed a new company and you would like to do business but you are not too sure about the requirements. If you are planning to expand your business or you would like it to grow, there is no doubt that you should get the form LLC online to get your EIN number. Before getting your LLC form, it would be a good idea to do a bit of research on how to create an LLC operating agreement, which will help you create working relations among different business owners and your company. Are you wondering what EIN is? EIN…