Tag - tax reduction

How to Avoid an IRS Tax Audit

The following is advice that I've received from accounting professionals on how to avoid an IRS tax audit. Keep in mind that I (the author of this article) am not an accountant myself or any type of IRS official. It's still good advice, but for better advice, consult the right professionals.There is a rumor based on statistics that the IRS selects the people/businesses that they audit from those who file their taxes on time. Its a random, lottery-type selection [...]

29 Tax Deductions for Businesses (the most common)

"There is nothing sinister in arranging one's affairs as to keep taxes as low as possible . . . for nobody owes any public duty to pay more than the law demands." - Judge Learned Hand. The tax deductions that come with owning a business are one of the biggest motivations for owning a business. Taxes are calculated based on the business' income after expenses (recall the income statement). It's also a progressive tax, meaning the more you make, the [...]

How to Find a Good Accountant for Small Business

Every business owner needs a super team. There are multiple professionals on this team which may include lawyers, accountants, consultants, marketing experts and others. When aggregating this team, it is important to find the right professional for your business to avoid as many mistakes as possible and maximize the effectiveness of your business. Since this is Accounting Month on the Mirex Marketing blog, it is only appropriate to have a post that explains how to find a good accountant [...]