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What you're describing is the distorted landscape created by corrupt tax policy... it's not a good thing, but I suppose someone has to exploit it. To my knowle
by grandalf 15y ago
What you're describing is the distorted landscape created by corrupt tax policy... it's not a good thing, but I suppose someone has to exploit it.
To my knowledge single employee S-Corps are more and more risky (likely to result in an audit).
- aresant 15y agoI've been through three audits (of businesses) in the past 12 years. Their purpose is to "uncover the truth", not to hose you needlessly. You CAN write off a home office, you CAN write of computers, car miles, travel and entertainment, business meals, etc. As long as these are legitimate business-related expenses you're in the clear. As a single-employee S-Corp there shouldn't be such an overwhelming amount of documentation and you can probably push through an audit with minimal headaches. Probably should add the disclaimer that I am not a CPA, follow at your own advice, but man have I spent enough bucks w/CPAs in the last 12 years to hopefully pass on a bit of hard-won knowledge ;)
- carguy1983 15y agoI've also been audited. If you didn't cheat in the first place, you're not going to be in trouble or have to pay a lot of money.