Relying on Audit Techniques Guides IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus on a specific industry or audit-prone business transaction. IRS Jumps into Golden Parachutes In February 2017, the IRS updated its Audit Techniques Guide (ATG)… Continue reading

Maximize Write-Offs for Business Interest Expense When you take out personal loans to buy a business, you want to maximize the tax write-offs for the resulting interest expense. The tax law in this area is tricky. But if you play your cards right, you can get the best possible outcome. Mortgage Interest On a Home… Continue reading

There’s Still Time to Set Up a SEP for 2016 Simplified Employee Pensions (SEPs) are stripped-down retirement plans intended for self-employed individuals and small businesses. If you don’t already have a tax-favored retirement plan set up for your business, consider establishing a SEP — plus, if you act quickly enough, you can claim a deduction… Continue reading