Business Owners: Watch Out for These Actions (Possible IRS Audit Triggers)
As a business owner, you likely have MANY responsibilities you have to attend to every day. Whether you are balancing your payroll, bookkeeping, or managing accounts receivable, our accountants in Mid-Missouri are here for you! Our Central Missouri accounting firms have a passion for helping small businesses grow and thrive. Part of that is being aware of what is going on in your business and knowing what to watch for. Wilson Toellner CPA is here to give you a few examples of actions to watch for within your business that could trigger an audit from the IRS. An employee who is making an ABNORMALLY large donation to a charity. If you make a donation to a charity from your business that is larger than normal, you may draw attention from the IRS. A home-based business deducting too many expenses. In today's day and age of technology, many businesses can operate out of their homes. Just be careful when making the home office deduction. Deducting too many expenses...