Home office for taxes

[steve-o]

so if you get the audit..........................

i don't care who you are and what you are, you CHEAT some. that home office might just open the door for all the little things we skimp on. now that $$$ saved on the home office comes back to haunt you in a bigger way. the IRS ain't stupid..................

steve

[Elwood]

I claim a home office. Have for years. I have a dedicated computer and basically, the room has been mine about 90 percent of the time. Now I truely have a dedicated office and it is used for 100% business.

I have been told that if you do get fined in an audit, the IRS can be negotiated with. Don't know from personal experience, but I have been told that.

Something important when shopping for an accountant is if they are willing to go thru an audit with you and basically go to bat for you. Also, will they cover their mistakes, if any arise. I have heard horror stories where the accountant actually made the error and then said: "Oh well, sorry, pay the IRS." and walked away!

My accountant will pay for his mistakes, while I pay for mine and he is by my side thru thick and thin. Finding a good accountant is the best thing any businessman can do.

[Scott]

i don't care who you are and what you are, you CHEAT some. that home office might just open the door for all the little things we skimp on. now that $$$ saved on the home office comes back to haunt you in a bigger way. the IRS ain't stupid..................

steve

inquiring minds would like to know,, like what little things do we skimp on?

[Scott]

...Finding a good accountant is the best thing any businessman can do.

You can say that again. Mine is worth her weight in gold.:laughing:

[Scaper-S2k]

P.S. - The thread starter should be grounded at least 3 days for starting an ON TOPIC thread in the Off Topic Area.

[btammo]

Sorry Skape....should have had it on topic somewhere.

[buster57]

I have heard horror stories where the accountant actually made the error and then said: "Oh well, sorry, pay the IRS." and walked away!

Hey Elwood, if your tax preparer is a CPA they are liable for errors in the calculation of your tax return. You are liable for the source material. If the CPA walks that is illegal. They are liable for their actions.

In terms of asking your CPA to represent you to the IRS-they are not lawyers and your conversation is not privileged, but they are business people and you offer them a gift by asking them to speak on your behalf. Any CPA I have ever met who is a tax expert loves the opportunity to meet with the IRS-your bill just tripled.