You should try to take any and all deductions you are allowed to receive when filing your taxes this tax season. Try to not avoid getting your deduction just to escape a tax audit by the IRS. It’s possible to get deduction for things like medical expenses, home and office expenses or charity. You can even get tax deductions from your traveling expenses. Learn how to do this by following a few quick and simple steps.
The plan to achieve a tax deduction includes three main steps. First of all you need to keep a log of your activity. The 2nd step is to create an affidavit. The final document you need to have on hand is a disclosure statement.
Discover how you can use this three step plan if you want to get a tax deduction for your home office expenses:
For your tax log you will need to purchase a compact and comfortable spiral notebook. Make sure to record into your notebook the time of the day when you enter your office and the time you complete working at night. You should also mention what work you do when completing the journal. Attempt to make your writing easy to read, understand and comprehend. Keep in mind that you should do this often, possibly every day.
In order to produce an affidavit, for these purposes, you need to make a statement. In this statement you will swear that you are telling the truth regarding your reported activities. To do this all you need is to go with this record to a notary at the bank. You should do something similar to this monthly. Your notebook will be officially stamped and signed. This is a good reason you need to keep the book as legible as possible without error or grammatical errors.
This notebook will allow you to relax regarding the tax audit IRS. The IRS agents will have no reason to accuse you of any wrong doing. By doing this you can organize your work day better and be more efficient. The affidavit will make your business quite transparent for the taxing agent to see.
In order to be up-to-date you will need to have your IRS appointment notarized. This will also give you some extra protection and security. Remember that an appointment calendar is the evidence of your home work.
The next step to perform is to autograph the IRS Disclosure Statement. This is also called IRS Form 8275. To get this document you only need to call the Internal Revenue Service & ask for it. By signing this form you are declaring that you can support with documentation any controversial claims that appear on the tax form. You also acknowledge that you are willing to present all the facts about your situation. This form will defend you from any penalties.
By receiving the IRS Disclosure Statement you will be a step in front of the IRS. They will not be able to indict you of something bad.
This is an easy plan for the IRS tax audit. You & your family will be able to save quite a decent amount of money. This 3 step plan will also help you relieve the stress and focus more on the work at hand. When you mail you tax returns you always need to confirm your personal information. Make sure your Social Security number, your address and all the other facts are accurate.