Each type of legal business structure is taxed differently. Find out the specific differences between S-Corps, C-Corps, LLCs, Partnerships, Sole Proprietorships, and Nonprofits, and decide which formation is right for you. Read more
For small business owners, choosing between hiring employees or contractors is an important decision that defines not just working relationships, but taxation as well. Read more
What is a tax audit?
A tax audit is essentially an accounting procedure, where your individual or company financial records are closely inspected for accuracy.
Why are my taxes being audited?
The IRS is supposed to tell you why your return was selected for audit, but it is your prerogative to ask. Some audits are random, and others are part of related examinations.
Do I need a lawyer for a tax audit?
Depending on the type of audit, you may not need a lawyer. While it's a good idea to have a lawyer present for an in-person audit (also known as a field audit) you don't need one for minor paper audits.