The questions we answer most.
If yours is not here, call the office. We would rather answer it once properly than have you guess.
What should I do when I get an IRS notice?
Do not panic. A simple response to the letter is usually all that is needed, and we are just a phone call away.
Read the letter, and do not ignore it. Letters reference a specific year and a specific issue, and give you specific instructions and dates by which to respond.
Respond in a timely manner if asked. Most notices request a change to your account, taxes owed, or a payment. Responding by the date specified could minimise additional interest and penalties.
What do I claim as rental income and rental expense?
It depends on how the property is used and how much of it is let, and the answer changes what you can deduct. Bring us the details of the property and we will walk through what belongs on the return.
What is the difference between an independent contractor and an employee?
The distinction is decided by the working relationship rather than the job title, and getting it wrong is expensive for a small business. We can look at how you engage the person and tell you which they are.