For 2017 the IRS Established Mileage Rates are as follows:
 
  • Business Mileage:  .5350 per mile  
  • Moving Mileage:  .17 cents per mile 
  • Medical Mileage:  .17 cents per mile 
  • Charitable Mileage:  .14 cents per mile 

 

Did you know that if you are audited by the IRS, the burden of proof for under reporting your income is on the IRS?  

However, the burden of proof that you have deducted legally allowable expenses and deductions is on the taxpayer (you).

  • Please contact me to set up an appointment so that we may discuss your understanding of legally allowable expenses and deductions.
  • Remember ordinary and reasonable for your industry are the operative words when determining if an expense is an allowable business expense for your type of business.

 

 

Our Values

Accounting Advantage LLC prides itself on delivering the highest level of  service. I am dedicated to the three underlying principles of professionalism, quality of services and responsiveness. See my values.

Accounting Advantage LLC

Important Tips for Choosing a Qualified Business Accountant

  • Ask a friend or a colleague who has spoken highly of their Accountant to refer you. 
  • When interviewing an Accountant, ask them if they have experience in your Industry, if choosing a business accountant. Or if they have experience preparing a tax return that includes the schedules you normally file - example: Schedule E for rental income or Schedule C for a sole proprietor. 
  • Ask if they obtain Continuing Education Credits annually, how many hours and who presents their education courses - example:  the IRS, an accredited college or university.
  • Ask if they are a member in national and local organizations for accountants and/or tax preparers
  • Check the IRS website to verify if the Accountant/Tax Preparer has been accepted into the electronic filing program, which Is NYS mandatory for all commercial tax preparers
  • Ask if they have been designated as a Registered Tax Return Preparer, an Enrolled Agent, CPA or an Attorney, and have completed at least a minimum  of 15 hours continuing education annually, which consists of 2 hours ethics, 3 hours federal income tax law update and 10 hours other federal income tax law updates.
  • Ask if they have completed the Annual Filing Season Program as overseen by the IRS Preparer Office.
  • And lastly check with the Better Business Bureau or any national organizations that they are affiliated with to see if any complaints have been filed against them or their firm and most importantly the outcome of those complaints.