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 Services

Accounting Advantage LLC provides:

  • Accounting services utilizing Quick Books ™ software.  Installing the software, creating your Industry specific chart of accounts, conversion from Excel spreadsheets or Peachtree Software or upgrading from sunset Quick Books Software Versions.  Training on all QB modules for sales, cash receipts, cash disbursement, sales tax, vendor payments, payroll templates, memorized transaction list and general journal entries if necessary, among others. Training and assisting in issuance of the required Form 1099.
  • Ongoing onsite income tax planning throughout the entire year.
  • Businesses receive ongoing customized services whether semi weekly, weekly, biweekly, monthly or at the very least quarterly.  We do not recommend not consulting with your Accountant for a period of longer than three months especially at tax year end.  A cash based business or individual may not be able to tax plan effectively once the year ends.
  • Complimentary review of your prior year tax return(s) that were prepared elsewhere to insure that you received all legally allowable deductions.  If I find that you can claim other legitimate deductions, it is recommended that an amended return be filed.  There is a fee.
  • Compilations of your Quick Books financial statements. 

Non-Filed Tax Returns

The IRS's method of tracking information is becoming more and more sophisticated every day.  Their upgraded and huge computer center now has the capability to find out if you filed your tax return. One hand is starting to talk to the other.  They will send you a letter asking you why you did not file your 1040 or other return.

It is just a matter of time before they catch you. Their system matches up to each taxpayers W-2's, 1099's and 1098's in addition to other informational pieces that are required to be submitted to the IRS annually.  If you do not file a return, the IRS will prepare one for you, usually listing all income that has been reported to them and not listing any dependents, deductions or exemptions that you may be entitled to.

Failing to file a return that should have been or should be filed can be a criminal offense if you are required to do so. Prosecution and potential jail time is one of the consequences that can occur not to mention, failure to file penalties, failure to pay and interest on monies that are owed.   The current economy and huge national debt have put pressure on the IRS to collect as much owed money as possible, including non filed returns. 

The IRS is interested in obtaining your compliance. If you voluntarily file your delinquent returns it is very likely that you will avoid further problems than having to pay the taxes owed and the penalties and interest.

I can assist you in complying with these tax laws, as your delinquent returns must be completed and filed through the current year.  After I complete your returns and advise you as to the income tax, penalties and interest that may be owed I can also assist you in working with the IRS to pay what is owed in a payment plan that is most likely conducive to your ability to pay.

Please do not delay in becoming compliant with the IRS.  It is much more smoother if a professional is assisting you.