How to handle an IRS audit, Grandville tax accountant

How to Handle an IRS Audit

The dreaded IRS audit. You’ve received your audit letter in the mail, but now what? If you’ve been selected for a tax audit, it simply means the IRS is taking a closer look to make sure you’ve accounted for all your income and that you’ve only taken the deductions and credits you were allowed by…

IRS Business Audit

Red Flags for an IRS Business Audit

In 2018 the Internal Revenue Service (IRS) processed over 250 million tax returns and other forms. Smaller budgets and a leaner workforce meant the IRS only audited 0.59% of those returns. Your chances of avoiding an IRS business audit are pretty good, however, certain factors can raise a few red flags, increasing the probability of…

Automobile expenses for business, Grandville accountant and business consulting

Automobile Expenses for Business

The rules for automobile expenses in a business can be quite simple, or very complicated, depending on each taxpayer’s circumstances. The term “Business Use” means just that. If you are using the vehicle for business purposes then you have a tax deduction. It is important to note that the term “business use” does not include…

2018 tax reform bill changes, Grandville accountant and tax planner

How Will the 2018 Tax Reform Bill Affect You?

Changes surrounding the 2018 tax reform bill have left many Americans wondering how they’ll be affected in the near future. Because this has been one of the largest tax overhauls in decades, we’re highlighting some of the most significant changes for individual taxpayers. Standard deductions: Those who are married and filing jointly will have an increased…