There are always certain red flags that may make a return have a greater chance of an audit, but here is a “general” percentage of federal tax returns audited – grouped by Income Level.
Read MoreHow Will The New Tax Law Affect You & Your Business?
The new tax law may affect how you do business in these areas. Previous law had an exception to the 50% deductible meal, and that was if a business provided meals to employees at the office or place of business for their benefit, it was 100% deductible.
Read MoreThe Tax Cuts & Jobs Act Update
The Tax Cuts and Jobs Act passed by Congress and signed by President Trump in late December includes many changes in business taxes.
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