In the final part of our three-part series “how to respond to an IRS audit in 2022,” we’re focusing on the actual response to Internal Revenue Service (IRS).
Watch the video below to learn more from Milikowsky Tax Law’s Founder
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How to Respond to an IRS Audit in 2022 Part 2
IRS Letter 6323 and Bank Deposit Analysis
In part two of our three-part series “how to respond to an IRS Audit in 2022” we discuss IRS letter 6323 and the bank deposit analysis. For every audit IRS opens, they conduct
How to Respond to an IRS Audit in 2022 Part 1
IRS Letter 6323 and What to Do Before Contacting IRS
Small business owners should be prepared in case the Internal Revenue Service decides to audit your business. Watch part one of our three part series for advice on how to
Why We Do Tax with Entrepreneurial Operating Systems
John Milikowsky, Founder of Milikowsky Tax Law, often faces these questions: “why do you do what you do?” and “why are you a tax attorney?” To him, the answer is simple, “I really enjoy keeping businesses in business.”
Listen to
Tax Benefits of Different Types of Business Formations
Different business models are able to take advantage of tax benefits based on their structure. Business owners should keep in mind that the type of business formation chosen impacts costs, liability, and team configurations.
Choosing the right model can set
How Far Back Can EDD Audit Your Small Business?
Employment Development Department (EDD) performs many services, but their primary role that impacts small businesses is collecting and auditing payroll taxes. Employers pay payroll taxes for W-2 employees, but not for 1099 independent contractors.
The line between an
SBA Loan Forgiveness Denial Appeal Process
During the COVID-19 pandemic, the Small Business Administration (SBA) doled out Payment Protection Program (PPP) loans to qualified businesses. Over the course of the program, SBA granted over $809 billion in loans.
SBA is currently processing loan forgiveness and loan
Five Signs Your Small Business is Prepared for an IRS Audit
Internal Revenue Service (IRS) will flag businesses for an audit when the agency finds suspicious activity in your business’ tax returns. The suspicious activity may be innocent in nature, but IRS performs an audit to ensure your business paid the
Ultimate Guide to Tax Law for Small Business Owners
What Taxes Does My Small Business Have to Pay?
Small business owners may have to pay additional taxes on top of income taxes depending on if you have employees, how you classify your business, and your business expenses.
The various
How to Appeal an SBA PPP Loan Forgiveness Denial
The U.S. Small Business Administration (SBA) is currently going through loan forgiveness applications to approve or deny claims. Businesses that filed for a PPP loan during the COVID-19 pandemic and used the funds correctly can apply for loan forgiveness.
According