The IRS has stringent rules regarding taxpayers. In the case of using your business car for work, you must be able track everything perfectly. If you don’t, the IRS will not allow you to deduct expenses.
If you plan on deducting the miles you drive to attract and meet prospective clients, you would have to keep an accurate record of your travel. This would include:
A colleague asked me the other day how my Rainmaking program was going. And the answer was, unfortunately, “It’s going well, but not taking off as quickly as I’d like it to.” After thinking about it, I got mad at myself and decided to shift the conversation to “It’s going amazingly well – thanks for asking!” The conversation needed to be reframed in order to honor the dream and the encouragement I’ve received from my friends and colleagues. So, thank you!
TaxConnections Worldwide Tax Blogs honors the top writers who contribute their knowledge and expertise to our readers worldwide. Their tax blog contributions have enabled our readers to learn about tax news around the world as well as the chance get to know the personality of our writers.
Regardless of whether or not you are able to pay your tax liability in full, you should file all tax returns that are due. To do so, file your past due return the same way that you would file a timely return. Contact me directly for more specifics as you see fit.
If you received a notice from the IRS, be sure to send your past due return to the location indicated on the notice that you received.
This is Part #2 of a 12-part series answering, “Why Some Tax Professionals Make More Money Than Others.”
Every tax professional should invest the time and effort in marketing themselves, but that does not mean they have to spend an exuberant amount of money doing so. For over 30 years, I have observed tax professionals succeed financially beyond most people’s dreams and encountered tax professionals with the same amount of education and expertise who have not. Let me explain what I am talking about!
If you are having trouble landing new high-value, pay-in-advance clients, we invite you to learn from one of the best tax practice trainers in the industry. Michael Rozbruch, an expert and pioneer in the tax resolution industry, is sharing the strategies that propelled him to the top through this unique web training session. The knowledge gained during this webinar will help you along your journey to becoming a top tax professional.
CALLING ALL TAX EXPERTS TO ANSWER THIS QUESTION!
IF MR. TRUMP WERE YOUR CLIENT…WOULD YOU ADVISE MR. TRUMP TO RELEASE HIS TAX RETURNS PUBLICLY WHILE HE IS UNDER AUDIT?
Dear Mr. Trump,
As the CEO of www.taxconnections.com I want to ask tax professionals of every political affiliation how they would
advise you… if you were their client. The media is giving you a Read More
Partly in response to the problem faced by dealers in medical marijuana or those in states where marijuana sales are legal, the IRS has partnered with PayNearMe to allow taxpayers to make cash payment on their taxes at participating 7-Eleven stores in 34 states. This allows anyone without a bank account a more Read More
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