5 IRS Audit Techniques to avoid having unreported income

This is an expert of this article:

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Sep/IRSFines.jsp

 

This is NOT Related to QuickBooks or Excel, and very rarely I post a taxes related article, but these are simply laid out; and it is usefull to know:

  1. Financial status analysis: looking at the cost of living expenses vs. reported income
  2. Bank deposit analysis: looking at all bank seposits and also inconsistencies on deposits.
  3. Website and e-commerce analysis: revising income from digital sources
  4. Reconciling revenue reported on specific information statements: Revising that W-2’s and 1099’s match
  5. Ratio analysis: comparing Business and Industry statistics to see items out of “norm”

Visit the original article for detailed info…

Hector Garcia

Hector Garcia

Share on linkedin
Share on facebook
Share on twitter
Share on whatsapp
Share on email
Share on print

Use our link to get 30% off for a year, valid through 07/31/2022

Popular Courses

Private QuickBooks Training onsite

Customized Training

Accounting & Bookkeeping Services

Video-Based Virtual QuickBooks Course

Share

Share on linkedin
Share on facebook
Share on twitter
Share on whatsapp
Share on email
Share on print

30% Off QuickBooks

Use our link to get 30% off for a year, valid through 07/31/2022