My Articles | About Us | Contact Us | Advertise With Us | Search   
 
News, Tips & Offers delivered to your inbox

ABOUT US | VIEW ALL FEATURED ARTICLES | VIEW ALL TOPICS | VIEW ALL REGIONS | DM MOBILE | DM BLOG

Avoid These Common Errors and Audit Triggers Alabama

No business wants to have its tax returns examined any more closely than necessary. Below are some of the most common errors businesses make when filing their taxes. Be sure you steer clear of these potential red flags.

Local Companies

Federal Bureau of Investigation
205-326-6166
1000 18th St N
Birmingham, AL
Baldwin Legal Investigations
(334) 263-2072
3124 Sutton Dr
Montgomery, AL
Central Alabama Investigations LLC
(334) 277-8945
PO Box 240831
Montgomery, AL
Federal Bureau of Investigation
(334) 263-1691
1 Commerce St Ste 606
Montgomery, AL
Peoples Private Investigations
(334) 424-1496
207 Montgomery St
Montgomery, AL
Vinson Guard Service Inc
(334) 262-6362
306 Whitman St
Montgomery, AL
Fidelity Services
205-822-9692
3294 Shallowford Cir
Birmingham, AL
Echols Investigations Inc
205-324-6007
2368 Belmore Ln
Birmingham, AL
Global Bureau of Investigation
205-856-4577
2913 Gallant Pl
Birmingham, AL
Fletcher Philip W
(334) 834-5100
2660 Eastchase Ln
Montgomery, AL



No business wants to have its tax returns examined any more closely than necessary. Below are some of the most common errors businesses make when filing their taxes. Be sure you steer clear of these potential red flags.

Preliminary Information, Filing Status, and Exemptions

  • Include the correct Social Security number for you and your dependents.


  • If you plan to be out of the country on vacation on April 15, don't assume you're entitled to an automatic filing extension. You must request an extension on Form 4868.
Gross Income

  • If you're reporting any income differently than it was reported to you on Form 1099, be sure to note the amount of income from the 1099 on your return then adjust it attaching your own statement explaining the adjustment.


  • If you rolled over a regular IRA to a Roth IRA in 1998, include one-quarter of the resulting income on your return (unless you opted to include it all in 1998).
Adjusted Gross Income

  • You can't make an IRA contribution for 2001 after April 15, 2002, even if you receive a filing extension.


  • You can't take a deduction for an IRA rollover.


  • You can't base IRA contributions on unearned income (such as dividends, interest, rents from rental property).


  • Don't deduct IRA contributions you made between January 1, 2001 and April 16, 2001, which you treated as 2000 contributions (deductible on your 2000 return).


  • You can't convert your regular IRA to a Roth IRA if your income is over a threshold amount.


  • Don't deduct any Roth IRA contributions.
Deductions and Tax Computation

  • Don't deduct 2001 state and local taxes you paid in 2002 (for example, don't deduct your fourth-quarter state estimated tax payment for 2001 made in 2002).


  • Don't take a deduction for your commuting expenses.


  • Make sure to look under the correct column for your filing status when you look up your tax liability in the tax tables.
Other Taxes

  • If you had self-employment income of $400 or more, be sure to figure self-employment tax. You must include in self-employment income directors fees and income from a partnership or limited liability company.


  • If you exercised an incentive stock option in 2001 or owned private activity bonds, check to see whether you owe any alternative minimum tax.
Payments

  • Make sure you attach your Form W-2s (and any 1099s showing tax withholding) to your return.


  • Recheck your math.


  • Be sure to sign your return. If you file jointly, both spouses must sign the return.


  • If your return is more than five pages, add extra postage to ensure proper delivery to the IRS.


  • If you apply for an extension, don't forget to include a check for any estimated balance due.


  • Send your estimated taxes separately from your income tax return.

Featured Local Company

Federal Bureau of Investigation

205-326-6166
1000 18th St N
Birmingham, AL
Read more about Avoid These Common Errors and Audit Triggers

Related Articles
- Avoiding Costly Printing Mistakes Alabama
Don't make the assumption that printing is easy. If you do, then there is a big chance you're your final result will not be how you imagined it. You need to pay attention to all of the details from the very beginning to make sure that you get your desired results.
- ISO 9001 Registration Alabama
- Give Your PC A Boost Alabama
- Six errors when building your business Alabama
- Common Startup Mistakes Alabama
- The General Ledger Alabama
- Common Business tax mistakes Alabama
- Correcting Errors On Credit Report Alabama
- Greening a Small Business Alabama
- Registry Scan Tool Alabama
Regional Articles
- Avoid These Common Errors and Audit Triggers Alabaster AL
- Avoid These Common Errors and Audit Triggers Albertville AL
- Avoid These Common Errors and Audit Triggers Alexander City AL
- Avoid These Common Errors and Audit Triggers Andalusia AL
- Avoid These Common Errors and Audit Triggers Anniston AL
- Avoid These Common Errors and Audit Triggers Arab AL
- Avoid These Common Errors and Audit Triggers Athens AL
- Avoid These Common Errors and Audit Triggers Atmore AL
- Avoid These Common Errors and Audit Triggers Auburn AL
- Avoid These Common Errors and Audit Triggers Bay Minette AL
- Avoid These Common Errors and Audit Triggers Bessemer AL
- Avoid These Common Errors and Audit Triggers Birmingham AL
- Avoid These Common Errors and Audit Triggers Boaz AL
- Avoid These Common Errors and Audit Triggers Brewton AL
- Avoid These Common Errors and Audit Triggers Clanton AL
- Avoid These Common Errors and Audit Triggers Cullman AL
- Avoid These Common Errors and Audit Triggers Daphne AL
- Avoid These Common Errors and Audit Triggers Decatur AL
- Avoid These Common Errors and Audit Triggers Dothan AL
- Avoid These Common Errors and Audit Triggers Enterprise AL
- Avoid These Common Errors and Audit Triggers Eufaula AL
- Avoid These Common Errors and Audit Triggers Fairhope AL
- Avoid These Common Errors and Audit Triggers Florence AL
- Avoid These Common Errors and Audit Triggers Foley AL
- Avoid These Common Errors and Audit Triggers Fort Payne AL
- Avoid These Common Errors and Audit Triggers Gadsden AL
- Avoid These Common Errors and Audit Triggers Guntersville AL
- Avoid These Common Errors and Audit Triggers Haleyville AL
- Avoid These Common Errors and Audit Triggers Hartselle AL
- Avoid These Common Errors and Audit Triggers Huntsville AL
- Avoid These Common Errors and Audit Triggers Jasper AL
- Avoid These Common Errors and Audit Triggers Madison AL
- Avoid These Common Errors and Audit Triggers Mobile AL
- Avoid These Common Errors and Audit Triggers Montevallo AL
- Avoid These Common Errors and Audit Triggers Montgomery AL
- Avoid These Common Errors and Audit Triggers Muscle Shoals AL
- Avoid These Common Errors and Audit Triggers Northport AL
- Avoid These Common Errors and Audit Triggers Opelika AL
- Avoid These Common Errors and Audit Triggers Pelham AL
- Avoid These Common Errors and Audit Triggers Pell City AL
- Avoid These Common Errors and Audit Triggers Phenix City AL
- Avoid These Common Errors and Audit Triggers Pinson AL
- Avoid These Common Errors and Audit Triggers Prattville AL
- Avoid These Common Errors and Audit Triggers Scottsboro AL
- Avoid These Common Errors and Audit Triggers Selma AL
- Avoid These Common Errors and Audit Triggers Semmes AL
- Avoid These Common Errors and Audit Triggers Sylacauga AL
- Avoid These Common Errors and Audit Triggers Talladega AL
- Avoid These Common Errors and Audit Triggers Theodore AL
- Avoid These Common Errors and Audit Triggers Trussville AL
- Avoid These Common Errors and Audit Triggers Tuscaloosa AL
- Avoid These Common Errors and Audit Triggers Tuscumbia AL
- Avoid These Common Errors and Audit Triggers Valley AL
- Avoid These Common Errors and Audit Triggers Wetumpka AL
Related Local Events
Ambassadors Meeting
Dates: 12/2/2009 - 12/2/2009
Location: Albertville Chamber Of Commerce
Albertville, AL
View Details
Chamber Board of Directors Meeting
Dates: 12/3/2009 - 12/3/2009
Location: Chamber Boardroom
Athens, AL
View Details
Coffee Chat at McAlister's Deli Pelham
Dates: 12/3/2009 - 12/3/2009
Location: McAlister's Deli
Pelham, AL
View Details
Diplomat meeting
Dates: 12/3/2009 - 12/3/2009
Location: Saraland Area Chamber-Commerce
Saraland, AL
View Details
Resources to Start a Business in a Economic Downturn
Dates: 12/3/2009 - 12/3/2009
Location: Monroeville/Monroe County Chamber of Commerce
Monroeville, AL
View Details
Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin
Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History
Articles.DirectoryM.com | Search | About Us | Contact Us | Mobile | Blog | En Español
Copyright © BET Information Systems, Inc. All rights reserved.