Entries by David Connell

Giving Back to the Community

Make a Difference in People’s Lives co-authored with Joshua Darland “Man is paid in direct proportion to the service he renders mankind. The same applies in business, you have to give to get what you would desire.”                 –  Thomas Wilhite Why give? Many companies and individuals look at charitable donations as discretionary.  So now […]

IRS Hot Button Issues

IRS statistic:  61% of sole proprietors underreport net business income. Revenue Ruling 56-407:  You must report all of your expenses. Per the National Association of Enrolled Agents, the following are key audit categories:  gross receipts, costs of goods sold, auto expenses, supplies, meals & entertainment, rent, telephone, and depreciation. Business income, receipts, or sales. If […]