Category Archives: business taxes

What happens if you get audited?

There is a five-letter word most of us fear: audit. Movies and television shows have portrayed being audited as a scary experience with men in suits coming to your home and grilling you like a common criminal. The good news … Continue reading

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What are the chances of being audited?

The Average American Has a Smaller Chance of Being Audited by the IRS It’s official: taxpayers today have a much smaller chance of being audited by the Internal Revenue Service (IRS). Budget cuts, staff reductions, and changes to collection policies … Continue reading

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How do I get my adjusted gross income?

Tax season is approaching quickly. Few people feel comfortable filing their taxes without a professional looking at their tax return. One of the most critical aspects of a tax return is the adjusted gross income. The adjusted gross income determines … Continue reading

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Does Gifting Reduce Your Taxable Income?

If you are like other hard-working individuals who are disappointed to see the IRS take a sizable bite out of their checks, you could be wondering how you can reduce the amount of taxes you owe each year. You might … Continue reading

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Can I Give Someone $1 Million Tax-Free?

You might think you can give money or property away without needing to document it on your tax paperwork, but that is not the case. At this point, you likely want to know whether or not you can give someone … Continue reading

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