TaxAudit Blog

Tag: recordkeeping

Block with Tax words on it

The letter you hoped would never come arrived. You open it and discover the IRS has graciously sent you an invitation to their work mileage deduction review.

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Personal Development, Guiding Skills, Help, Coaching, Learning

My wife is training to begin her career as a life coach. Can the expenses of her training, including tuition, room, board & travel, be tax deductible?

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The Grinch

The holiday season is a time for giving, but if you don’t follow the carefully prescribed rules for charitable giving, the IRS may disallow your deduction.

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Flood

Casualty losses can happen to taxpayers, such as a fire caused by a faulty heater. Do you have copies of your important documents in a safe place? 

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Woman filling out a tax form

When it comes to proving deductions taken on a tax return, the burden of proof is on the taxpayer, according to the Internal Revenue Code (IRC). 

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Dictionary with the focus on the word Taxpayer

If you made an mistake on your taxes or omitted required information, such as a late-received W-2 or K-1, you can file an amended return on Form 1040X.

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Woman filling out a tax form

It’s still not too late to make adjustments to your withholding or estimates to make sure your 2014 taxes will be done correctly and you will not be surprised..

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Clock pointing the time hands towards the word TAX

The overall percentage of individual tax returns examined in 2013, published by IRS, is about 1%; however, this number only takes into account “examinations”

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3 Armed Forces Members

If you are a member of the U.S. Armed Forces, there are tax breaks written just for you. Merchant Mariners and American Red Cross employees do not qualify...

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Ocean

We have been asked to build some basic boxes to be used as a stage for a company. They plan to pay us but are not placing us on their payroll as employees.

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Man asleep at desk

Years ago, I was just like most people when it came to taxes. Just the thought of doing my tax return gave me hives. I had been burned twice at tax time...

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glasses and pen laying on top of tax form

There are so many ways that taxpayers have tried to do an end run on the tax system that the IRS issues an updated consumer alert each year titled...

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Room partially painted

How do you know if you have spent substantially full time repairing and maintaining a rental property when you stay in it so it doesn't count as a personal day?

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man laying on grass relaxed

You may have heard that if you are self-employed, or you are expected to entertain clients as part of your job, you can deduct the costs of those meals...

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Woman at the Dentist

I took out a medical loan for $36,000 dollars for full mouth restoration by two dentists due to infections. My insurance only covered $890. Can I deduct it?

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Money

If you are upset about the national debt, you can make a deductible charitable contribution to the Bureau of the Public Debt to help out.

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Man and Woman riding in a red car

I use my car in my business. How much of it is tax deductible, and what type of travel is deductible? Are my trips going back and forth to work deductible?

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Calculator and Stethoscope

Feeling sick? Broke a foot? Broke a tooth? Kids in braces? Are these deductible on your taxes? Well – maybe. Medical, dental, and even alternative health care..

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Donation Box full of sweaters

You cleaned out your closets, attic and garage this year and took all of those piles down to your local charity drop-off location. (I bet that felt good.) 

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Woman filling out a tax form

It’s that time of year when taxpayers begin to get massive headaches. If you feel your head pounding, following these simple tips could save you more pain.

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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.