DAVID S. BABOIAN, CPA, PC

  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYER set up forms
      • EMPLOYEE set up forms for new hires
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's bands
    • Haunted Chamber
    • Picture gallery
  • Secure email

12/4/2016

December 04th, 2016

Read Now
 
​TAX TIP OF THE DAY... Stay out of jail.

Everyone jokes about the IRS and their inefficiency.  However, the IRS Criminal Investigation (CI) unit is very successful at prosecuting tax cheats.  Their main targets are small businesses under reporting sales. If they knock on your door, you need a criminal attorney because you are going to jail.  They watch you for months and collect evidence.  By the time they knock on your door, they have the evidence to convict you.  

Small business owners...  blatant cheating may put you behind bars.  Don't do it.  It's not worth it.  USE THE MANY LEGITIMATE TAX DEDUCTIONS INSTEAD!  I can help you with that part.

This is how tax cheats get caught:
1) bank tellers are required to report certain high dollar cash deposits to the IRS.
2) bank tellers sometimes report lower dollar cash deposits to the IRS on a "Suspicious Activity Report"
3) an anonymous tip from the IRS Fraud hotline
4) IRS under cover operation...  posing as one of your customers.
5) your lifestyle (cars, house, vacations) does not match the income reported on your tax returns.
6) IRS is contacted by former spouse, former co-worker, former neighbors...  lots of people know.
7) Your reported income and expenses don't align with similar businesses in your industry.
8) You are in an industry known for cash transactions, but you report very little income in excess of credit card transactions.

Hopefully this post scared you a bit. 

SHARE WITH A FRIEND.
If you need any help... www.baboiancpa.com

Share


Comments are closed.
Details

    Author

    David S. Baboian, CPA

    Archives

    February 2018
    January 2018
    December 2017
    October 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015

    Categories

    All

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYER set up forms
      • EMPLOYEE set up forms for new hires
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's bands
    • Haunted Chamber
    • Picture gallery
  • Secure email