Does the IRS ‘Really’ Expect Detailed Driving Records for My Automobile Expense Deduction???

mwalkerwade Posted in audits, B2B, Deductions, Schedule C, Small business, Tax errorsTagged , , , , , 2 Comments on Does the IRS ‘Really’ Expect Detailed Driving Records for My Automobile Expense Deduction???

Before I start-in on the answer to this question, please understand this article only pertains to individuals who use their personal vehicle for self-employed, freelance, or 1099 contract work. Any work you do for an employer from whom you receive a form w-2 does not apply; even if you are the owner. If you (as […]

Can I Claim My Spouse As a DEPENDENT? — NO

mwalkerwade Posted in 2011, 2012, 2013, audits, dependentTagged , , Leave a Comment on Can I Claim My Spouse As a DEPENDENT? — NO

I keep hearing this crazy notion of one spouse claiming the other spouse as a dependent.  What’s most disturbing is that I’m hearing tax preparers state this absurdity, sending their clients on wild goose chases to gather sufficient documentation as proof that their spouse has no gross income so they can claim the spouse as […]

Things Small Business Owners Do The IRS Calls “Negligence” and “Intentional Disregard”

mwalkerwade Posted in audits, B2B, Earned income, IRS, Small businessTagged , 2 Comments on Things Small Business Owners Do The IRS Calls “Negligence” and “Intentional Disregard”

Somewhere in the world of small business we’ve come up with clever ideas to keep the IRS from getting all of the tax dollars due to them.  I’m not sure why, but we think we can outsmart the highly trained and educated IRS auditor who makes his living investigating financial rabbit trails.  You should know […]

Tax Fraud – The IRS is Actively Going After Preparers AND Their Clients

mwalkerwade Posted in audits, Income Tax, IRS, message to clients, Tax fraud, Tax preparation, tax servicesTagged , , , Leave a Comment on Tax Fraud – The IRS is Actively Going After Preparers AND Their Clients

I have a few clients who propose illegal ways to decrease their tax debt to me; some do so knowingly and others unknowingly.  It’s my responsibility to keep us both on the right side of the tax law and out of trouble with the IRS. I do this to the best of my ability and […]

So, You Want to Claim a Certain Someone As Your Dependent?

mwalkerwade Posted in audits, dependent, head of household, IRS, M Walker-Wade, relative, Tax errorsTagged , Leave a Comment on So, You Want to Claim a Certain Someone As Your Dependent?

Everyone is looking for a way to lower their tax bill and maybe even get a little refund back.  I see lots of people attempting to be really… “creative” in coming up with a few dependents to help them achieve this goal.  Before you get too carried away with how easy it can be to […]

IRS Inadequacies -You Need To Know This

mwalkerwade Posted in 2011, audits, e-file, message to clients, Tax errors, tax services, Taxpayer AdvocateTagged , Leave a Comment on IRS Inadequacies -You Need To Know This

With the technology and requirement of e-file in place, the IRS customer service and document processing activities are more automated than ever. It’s easier to file your taxes, we’re not printing tons of paper copies any more, and the turn around time of the average refund has gone from 6 weeks to 2 weeks – […]

Can You Claim The Big Earned Income Tax Credit?

mwalkerwade Posted in audits, dependent, Earned income, Earned Income Tax Credit, relativeTagged , , 2 Comments on Can You Claim The Big Earned Income Tax Credit?

EARNED INCOME TAX CREDIT-SCHMEDIT! In general, you most likely have received the Earned Income Tax Credit (EITC) in the past if you: (1) Earn money from working (2) Have an income amount that is considered “low income”, and (3) Usually receive a tax refund that is more than $2000. Sometimes the refund can be  as […]