TaxAudit Blog

Keeping you up-to-date on tax issues that may affect your life.

 

Tax Deduction! written by pen

Yes – there are quite a few different personal and business taxes you may be able to deduct. But, as always, it depends on your particular situation. Read More ›

 
Fees written with blocks

For most taxpayers bank fees are not deductible. However, taxpayers who operate their own business may be able to deduct bank fees. Read More ›

 
Rental House for Sale

Electing to group properties together into one activity to qualify for real estate professional status comes with some disadvantages. Let's explore more. Read More ›

 
Tax Refund and Stack of Money Drawing in a Notebook

Now that you have received a notice from the IRS, you want to know if you are still going to get your tax refund. The answer is – maybe. Ler's explore more. Read More ›

 
House sitting on money

Your son does not need to report or pay tax on the $70,000 you gifted him from the inheritance your wife received from her mother’s probate! Let's explore more. Read More ›

 
Woman Driving New Car

There is a very good chance you can get a deduction on your taxes for the State sales taxes that you had to pay on your new car, truck, van, or other vehicle. Read More ›

 
Woman looking at paperwork

If the IRS applies your payment to the wrong tax year, they will generally fix the issue once they know the problem. Let's learn more. Read More ›

 
Auditor writing on paper with binders on his desk

What can cause a tax audit? Let’s talk about some of the primary triggers that may cause you to receive an audit or other notice. Read More ›

 
Amended Tax Return

Making sure your tax return is correct, even if that means amending your return, is better than having an incorrect return and hoping the IRS doesn’t notice! Read More ›

 
Tax Audit written in blocks placed on $20 bills

Do we actually know what a tax audit is, why they exist, and what we can do to prepare for one? Let's explore the answer to these tax audit questions. Read More ›

 
This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.