Employee expenses are no longer deductible. Nevertheless, if the employer reimburses the employee under an accountable plan, the reimbursements should not be reported as income by...
Posted by Income Taxes and Bookkeeping LLC on 04/06/2021
As the tax deadline approaches, many people are fond of frantically ransacking their home for various receipts to support their claim for a refund from Uncle Sam. Many people discover...
In the near future, just in case you will get audited or sued, you won’t have to worry if you kept in track with your financial statements. Aside from it being in handy, good...
Posted by Larry Hurt on 07/09/2020
At the time of tax, people often wander around their house and office to search deduction receipts of previous months. It is not a simple mistake because it may cost you $1000. If...
Posted by Unifirst Financial & Tax Consultants on 05/18/2018
The Internal Revenue Service, for the most part, educates taxpayers to hold duplicates concerning all tax returns and any applicable supporting documentation for at any rate the past...
Posted by Advantage Tax Services, Inc. on 05/24/2019
Are you among the 6 million taxpayers whose tax return got questioned by the IRS? This happens every year and these taxpayers are either audited or were sent a verification notice...
Posted by BRIAN PRZYSTUP & ASSOCIATES LLC on 05/24/2019
Though you may keep accurate financial records nevertheless, getting an IRS tax audit is scary- but if you didn't put in place your receipts, it certainly could be wrecking. Know...
Posted by Roland Zita, CPA on 05/20/2019
If you are in the middle of an audit and you don't have your receipts, then there is no need to panic. If you do not have receipts in order to prove your income, this does not...
Posted by Wolf Financial Group LLC - Tax Services on 11/27/2018
Tracking the expenditures can assist you in saving your money at the tax time. But it is necessary that you keep the receipts as well as the documentation to back up the expenditures...
