Posts Tagged ‘IRS audit risk’
How to Separate Personal and Business Expenses Without Making a Mess at Tax Time
If you run a business and make good money, this issue shows up fast. At first, it seems manageable. You pay for lunch on one card. Software on another. Maybe a flight gets booked from the wrong account. Maybe your assistant grabs office supplies with a personal card and tells you later. Maybe you meant…
Read MoreHow Poor Recordkeeping After a Home Sale Can Create Tax Problems
Selling a home feels like a finish line. You close. You move on. You deposit the money. You tell yourself you will organize the paperwork later. And then tax season shows up. That is usually where the trouble starts. A lot of high-income earners assume a home sale is simple. Maybe the gain is excluded.…
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