Vicky Collins – The Deduction Diva – and my personal business accountant is a CPA who works with home-based businesses throughout the U.S. She just let me know how worried she is about the new IRS initiative to go after home-based businesses. They believe businesses such as yours and mine could be a major source of tax revenue and they’ve convinced Congress to up their annual “enforcement” budget to $5.5 Billion dollars just to prove it.
One major focus will be businesses with losses – this could be your part time or full time pet sitting business if you are just geting started or have invested in set up costs, trademarks, signs, conferences, and training programs this year.
You know, when the CPAs are worried, we should all be worried. But rather than just worry, Vicky has put together a program that will show us how to document our profit intention. Not only that, she’ll show us 6 main types of small businesses audited by IRS
9 Key Characteristics IRS uses in making a determination of a business or hobby
3 Main IRS Examination Techniques used 4 Types of information likely to be requested
3 Key Rulings and Laws that support taxpayers
What happens to your deductions when the business is reclassified as a hobby
This information rich call is only $29.95 and will take only 1 hour of your time and could save you lots of headaches!
I hope you’ll join me on the phone with Vicky for this very important call. You can learn more by clicking here:
Ps: The call is coming up on August 16th. Even if you cannot attend the call live, please sign up now as an MP3 download will be available after the call.