TAX AUDIT

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Highly successful businesspeople, top-notch corporate executives and wealthy individuals don’t take chances with their tax returns. That’s why they regularly hire the best NYC tax accountants to prepare their taxes. Sometimes, that’s not enough. If you’re worried about your taxes, hire a professional, third-party accountant to do a tax audit.

In 2015, the IRS audited only one percent of returns from people earning less than $200K. If you earned $1 million or more, the rate of IRS audits increased to more than 12 percent. Also, the more income streams you have, the more difficult it may be to be certain that you report all your earned income. These are just several of the IRS audit triggers.

TAX AUDIT HELP

Tax problems in the world of high finance are not rare occurrences especially in New York City; in fact, they happen all too often. You need to arm yourself with a dependable tax team that has experience dealing with complicated tax returns and six-digit incomes. You need the expertise of a personal accountant who looks beyond the numbers on the page to find ways to make your money work for you, not against you — not just during tax season, but all year long.

In addition to hiring the best tax accountants in NYC, you can take other steps to ensure your tax returns remain problem-free:

• Seek tax planning advice, which gets you thinking about your taxes throughout the year.
• Keep your finances straight with small business accounting services from a seasoned pro.
• Make sure you’ve filed all returns and paid your back taxes.
• Commission a tax audit to examine your tax return before it’s filed with the IRS.

WHY A TAX AUDIT IS A GOOD IDEA

If you’re worried about your taxes, hire a professional, third-party accountant to do a tax audit in NYC; it will reassure you. It’s basically like a dry run, except instead of going through the IRS audit process, you go through it with an independent New York accountant who has your best interests in mind. That doesn’t mean a tax audit from Miller & Company with offices in NYC and Queens isn’t thorough, however. All audits:

• Have to follow strict guidelines
• Are the most intensive review of your tax records available
• Verify all financial information reported
• Check for any missing income
• Investigate every deduction taken
• Ensure that your tax returns are bullet-proof
• Take a big-picture view of your finances to develop an encompassing strategy

Tax audits take time and they’re not inexpensive. When you consider IRS audit penalties and the disruptions to your business and your life from an IRS audit, you’ll realize that a tax audit from Miller & Company located in NYC and Queens is money well spent. The results of the audit get reported directly to you, not to the IRS, so you can take the recommendations before the IRS even sees your tax returns.

Read more at https://www.cpafirmnyc.com/tax-audit