Posts Tagged ‘business expense deductions’

Avoid IRS Penalties in 2010 By Keeping Good Record of Business Expenses

Friday, January 8th, 2010

As taxpayers are getting ready to file their 2010 tax returns, an important thing to remember is to only claim deductions that you can substantiate with evidence. This is an easy way to avoid incurring the wrath of the IRS–do not deduct “business” expenses that are personal!
I have blogged about many cases before where individuals were subjected to IRS penalties for falsely claiming business expenses as a part of their
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Posted in Expert Help From Tax Attorney, IRS Tax Cases, IRS help, Tax news and tips, tax help | No Comments »

A Tax Attorney’s Expert Tax Help is Only As Good As the Records You Keep to Substantiate Your IRS Deductions

Thursday, December 17th, 2009

Business owners and freelance professionals alike must be aware of the importance of keeping careful records of their business expenses in order for these tax deductions to be accepted. A good tax attorney can only do so much to help your case if you do not have strong evidence to support your tax claims.
I have blogged about news stories of unsubstantiated tax deductions in the past where taxpayers who were
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Posted in IRS help, Seeking Professional Tax Help, Tax news and tips, income tax relief | 1 Comment »

Wife Gets Partial Innocent Spouse Relief From Husband’s IRS Penalties From Unsubstantiated Deductions

Friday, September 11th, 2009

In my industry, I see many cases where taxpayers could avoid or reduce IRS penalties if they provide sufficient documentations that substantiate their business deductions.
Upon IRS request, you must have sufficient documentation to prove the legitimacy of your tax deductions in order to avoid tax evasion charges. If however, you are unaware of illegal deductions that your spouse made on your joint tax return, you are eligible to file for
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Posted in Back Taxes, Innocent Spouse, Seeking Professional Tax Help, Tax news and tips, tax help | 1 Comment »