FW: Re: [Dixielandjazz] 1099's

[rahberry at comcast.net]

-------------- Forwarded Message: --------------
From: rahberry at comcast.net
To: dwlit at cpcug.org
Subject: Re: [Dixielandjazz] 1099's
Date: Wed, 22 Feb 2006 16:22:20 +0000
> I've been advised that one should have the audit, if possible, in the auditor's 
> office, rather than your own.  That way the auditor can't really go on a fishing 
> expedition to see what else you have.  You would be advised in advance what 
> records to bring with you.
>     Rae Ann (a degree in Accounting. [ Honest!] Also a Master's in Social Work)
> 
>  -------------- Original message ----------------------
> From: dwlit at cpcug.org
> > I was audited in 1988. I had been told by a tax lawyer musician not to be
> > afraid of the audit, but to consider it an educational opportunity. They
> > weren't out to get me, but to determine whether I needed to be gotten.
> > 
> > The auditor spent 3 whole days *in my office*, even took receipts with her
> > when she left. She examined literally every cent of *all* my finances. She
> > asked questions, gave me a lot of tips. She found only one taxable
> > error--a $250 deduction for food bought on the way to various gigs.
> > 
> > She was very pleasant, if businesslike, quite attractive, and sitting as I
> > was at my computer table while she sat at my desk, I had a nice view of
> > her veddy nice figure...
> > 
> > So keep all your receipts, bank and credit card statements. and don't be
> > stupid in claiming deductions. As Steve said, deduct aggressively, but I
> > would add: Be able to explain convincingly how every one of them relates
> > to your music business.
> > 
> > --Sheik
> > http://americanmusiccaravan.com
> > 
> > Steve Barbone wrote:
> > >
> > > As Tom Wiggins says, just have the receipts to back up what you deduct and
> > > declare the income. Be aggressive in you deductions, no harm in that. Then
> > > if they audit you, they'll just take a few bucks if they disallow. And
> > > like
> > > John McLernan says, DO NOT VOLUNTEER INFORMATION JUST ANSWER QUESTIONS
> > > ABOUT
> > > WHAT IS ON YOUR AUDIT NOTICE. Do not bring all records, just those which
> > > they ask for.
> > 
> > 
> > _______________________________________________
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> 
>