Posts by katarinaybc

If you’re like me, you’ve received calls from the fake IRS. Your first instinct when “the IRS” calls you is probably that it’s a scam. But if you’re like a lot of people, you’ve started to experience doubts due to the sheer persistence of these IRS calls. After all, you don’t want to ignore the…

You might be surprised to find out that your own accountant gets loads of threatening messages from the Fake IRS. The truth is, no one is immune. I heard from a friend who works at the IRS that it’s a fun hobby in the IRS breakroom to laugh at the Fake IRS voicemail messages that…

The fuel tax credit is specifically for off-road use of gasoline or diesel. The credit is $0.184 per gallon. It represents a refund of highway maintenance taxes for fuel that isn’t used on roads. Only fuel used for business purposes qualifies for the credit – no personal use fuel qualifies. Typically, this means fuel that…

The Inflation Reduction Act allocates $80 billion to the IRS so that it can increase the number of audits. As of June 25, 2022, the IRS returned to the office (that’s right… they were still not in the office), and they expect to increase audit activity. Self-employed individuals and small business owners can be particularly…

1. You didn’t properly document your business meals. Meals have some extra documentation requirements, above and beyond normal expenses. You have to be able to show the amount of the meal, the date of the meal, the location of the meal, the business purpose of the meal, the number of people served, and who was…

1. You diligently kept your mileage log, but the auditor wants more. We love apps like MileIQ* to help you keep your mileage log, but don’t stop there. Auditors will generally ask for third party documentation showing your odometer reading. They want to see documents from repair shops, oil changes, tire changes that show your…