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One way to maximize your business profits is by reducing your taxes. Frequently, income and other taxes could be lowered significantly if only the taxpayer were willing to plan ahead. By taking some simple steps to rearrange your affairs, you could save a fortune!
1. Are...
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When Richard Hatch bared it all on "Survivor," he took home a million bucks. But when he was less revealing about his windfall with the Internal Revenue Service, he wound up facing possible prison time as a tax evader.
Steve Kassel, a former IRS revenue officer sees such...
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It is the most dreaded letter a taxpayer can receive.
Dear Taxpayer,
Some of the information that you provided to us does not agree with the information we received from other sources. -- The Internal Revenue Service
You've just joined an elite club, one where the...
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"Don't draw any more attention to your return than you need to," says Robert G. Nath, author of The Unofficial Guide to Dealing with the IRS. "Simple, plain vanilla returns are fairly safe."
That's because most returns chosen for audit are flagged by an IRS computer program...
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If your return is selected for a closer look, don't panic and don't ignore IRS inquiries.
If you're in the audit majority, you'll fall into the least intrusive category, the correspondence audit. This is the easiest process for both the taxpayer and the IRS. In this case,...
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Did you hear the one about the ostrich? The sperm donor? The dog food?
They're just three of the more ingenious tax deductions that creative Americans have devised over the years to counterpunch the tax collector. A quick Ali shuffle, a feint with the left and an outlandish...
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