Bank finance articles and tips

No matter how good your tax professional is, if you don't provide all of the necessary information and figures, your return will be wrong. And, any tax return that is done wrong will fail an audit if exposed.

Undocumented cash income, inventory mistakes, overlooked deductions, and missed benefits are common within this industry. Some of these errors increase your federal tax bill; others shortchange your future. Self-employed people can take advantage of the same IRS rules used by large corporations, allowing them to lower their tax bill without cheating on their taxes....

Few words can conjure up that queasy feeling in your stomach more easily than the word "audit". The fact is the IRS conducts millions of audits or examinations each year for various reasons. If you recently received a letter from the IRS and are unsure what the next step should be, then hopefully this article will help inform you of your options....