Avoid These Common Errors and Audit Triggers Aliso Viejo CA

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

Kyliptix Solutions, Inc.
(714) 442-7652
Irvine, CA 92616
Irvine, CA
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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

Kyliptix Solutions, Inc.

Kyliptix Solutions, Inc.

(714) 442-7652
Irvine, CA 92616
Irvine, CA
http://www.kyliptix.net/universal_customer_relation_management.php

Kyliptix Solutions, Inc. http://www.kyliptix.net is a global organization with an extensive knowledge of the IT sector. Our extensive knowledge has instilled confidence within the marketplace and has built a reputation of consistently delivering quality and performance based solutions. Bringing tangible value is not only a focus, but a requirement, which is why Kyliptix Solutions is considered one of the pioneers of IT based solutions today and moving forward.



WHAT WE DO?

Kyliptix Solutions, Inc. offers a full suite of solutions and services to businesses globally. Our customer base is extensive and dispersed throughout the world. We offer a mixture of products and services ranging from IT software solutions, hosted services and custom development. Companies looking for comprehensive communication solutions enjoy working with our organization for multiple reasons such as; flexibility, quality, product performance, and technical expertise.

Our team of industry specialists, account managers, programmers and designers work in partnership with our clients to help them take advantage of the opportunities the Internet creates for communication.

Customer Service is at the core of what we do. We will always go the extra mile. From concept through product creation we make sure that our clients are never left behind. And because of our investment in a technology platform designed specifically for corporate communications, we also offer our clients outstanding value.

We guarantee the best technology is used at all times, hence bringing consistent value to the business community.


OBJECTIVES & MISSION

Kyliptix Solutions, Inc was formally established in 2004 but stems from a consulting organization that was started in Texas in 1999. The founder of Kyliptix Solutions, Inc saw a market need to provide solutions and services mainly related to advanced internet technologies. From inception the company has focused on addressing customer requirements by offering complete IT software solutions on multiple platforms and formats. The rapid expansion of services is truly impressive; hence a large customer portfolio has been achieved.

Kyliptix Solutions, Inc management team has over 40 years of dynamic combined experience in the Information Technology Sector. Our business focus is to assist businesses that fall within the SMB and SME markets with full featured IT Software solutions that enable organizations to be more efficient and effective in doing business. Kyliptix Solutions strength lies in the up-to-date IT knowledge and experience and we will continue to enhance our customer satisfaction and technical expertise moving forward so our customers are ensured that they are receiving the best solution(s) available today and in the future.

WEB HOSTING CHECKLIST :: SUCCESS FACTORS
CRM

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