BikerBabe 0 #1 April 15, 2003 We're filing tomorrow to try to avoid being audited (we've been told the later we file, the less chance there is), but I'm about 95% sure that we will be. See, we started our own business last year and we are going to have a LOT of large business deductions (a vehicle, a trailer, mileage, etc), on top of a couple thousand in charity. Has anyone on here ever been through an audit? If so, how bad was it? I'm bracing myself now. Never meddle in the affairs of dragons, for you are crunchy and taste good with ketchup! Quote Share this post Link to post Share on other sites
skydiverbob 0 #2 April 15, 2003 Been auditied 3 times, the big shoe box theory is the best, lots of receipts. The first time was way scary but the other 2 weren't bad at all. I actually got some money back on the last one, the auditor found something that I could have taken a deduction on, he was pretty cool.Who Dares Wins Quote Share this post Link to post Share on other sites
dove 0 #3 April 15, 2003 Holy crap! THREE times?!?!?!?! What in the world for? What do you do for a living? Fall in dove. Quote Share this post Link to post Share on other sites
mnischalke 0 #4 April 16, 2003 I was told today that the IRS has zero $ for audits, and you got to be doing something really wrong to get flagged and hauled in. They are looking for those holding back big chunks of $$$$. That's what I heard, anyway. mike Girls only want boyfriends who have great skills--You know, like nunchuk skills, bow-hunting skills, computer-hacking skills. Quote Share this post Link to post Share on other sites
ChasingBlueSky 0 #5 April 16, 2003 Nope, but just realized tonight I need to go to H&R Block in the morning, I missed a W2 form on my filing. Already spent the check, but it looks like I will need to give $250 of it back to the government Oh well, easy come, easy go. What really sucks is that this will cost me late filing fees and H&R block fees now. Next year, I will just give it all over to H&R from the start and save some trouble. _________________________________________ you can burn the land and boil the sea, but you can't take the sky from me.... I WILL fly again..... Quote Share this post Link to post Share on other sites
mouth 0 #6 April 16, 2003 Yes, I have. They drug it out for 2 years while I had a tax lawyer and high priced accountant at my beck and call. Thankfully the IRS finally got tired of dealing with those two and said the extremely large deduction was ok. I paid those two to remain on retainer for future audits cause if they get you once they will get you again. Good luck. My best advice is to use a lawyer and not get in a hurry. If they think you want it over they will try to wheel and deal with you even if you are right just so they can get something out of you. PM me if you want the details. Lisa -- Hot Mama At least you know where you stand even if it is in a pile of shit. Quote Share this post Link to post Share on other sites
Deuce 1 #7 April 16, 2003 Use a good acountant. The price to prepare your taxes comes right off the top of the following years amount owed. If you claim a deduction in good faith, and it's ruled not legitimate, you only have to pay the original amount of tax owed. If you claim a deduction that's ruled to have been made in bad faith, like buying a rig to improve your mental health so you can do your job better as a business deduction, you will be hammered shit. My wife worked out of our house as a travel agent, and we had tons of write-offs. But our tax guy is retired IRS, and we never had any trouble. I'm doing the skydive video thing this year as a home business, I'll let you know how it goes. Next year. From Federal Prison. JP Quote Share this post Link to post Share on other sites
jimmytavino 16 #8 April 16, 2003 Quote I'm doing the skydive video thing this year as a home business, I'll let you know how it goes. Next year. From Federal Prison. ....... hahaha.....that cracked me up deuce,,,,,, the way you wrote it..!!!...(With my accts' blessing) I've included expenses against income which was generated by tandem videos photographs, dubs etc. on the return for the past 3 years.....I do file early, jan/feb.(Federal Student Aid forms for college kids, have to be complete by March first or so, and require specific totals,, from various places on the Fed. 1040,, from the preceeding year,,,) The returns are always processed ( I either see a cancelled check, or I receive a refund) and I am fair and accurate with the numbers. jmy Quote Share this post Link to post Share on other sites
