From collectibles to cars, buy and sell all kinds of items on eBay
Site Map
aAdvanced Search
BuySellMy eBayCommunityHelp

Home

  » 

Community

  » 

eBay Discussion Boards

  » 

Community Help Boards

  » 

Workshops

  » 

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18
Topic Locked This topic is locked - uploads are not allowed.
Last Post Oct 18, 2006 11:03 AM by: deirdre@ebay.com
Replies: 106
View Listings
deirdre@ebay.com
Posts: 3,846

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Sep 28, 2006 9:02 PM
Topic: Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit and How to Avoid Them!

Host: dkennedycpa
Date: Wednesday 10/18
Time: 10:00 am to 11:00 am PT
Location: Workshop Board

Description: Every year millions of Americans make mistakes that red flag their tax returns for audit. Each year, the IRS tells us what they're looking for and who is at risk for audit. Learn how to avoid the mistakes that make the IRS come knocking and "audit proof" your return to reduce the risk of an IRS audit.

Cheers,

Deirdre
eBay Community Development
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(1 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:54 AM
Hello. My name is Diane Kennedy. I’ve been a CPA and Tax Strategist for over 25 years. My specialty is working with small business owners and real estate investors. My tax education company, Tax Loopholes, teaches people through books like Tax Loopholes for eBay Sellers, tapes and seminars on how to take advantage of the legal tax loopholes available to everyone. Please remember that laws and practices vary from state to state and if tax, accounting, legal and other specific expert advice is required, the services of a professional should be obtained.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(2 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:55 AM
What is a tax loophole? It’s a government incentive to promote public policy. Loopholes, in the way we’re going to talk about them, are legal and safe. There are two things that the government wants you to do: (1) Start a business and (2) Invest in real estate.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(3 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:55 AM
eBay has generously set aside time for these business-related sessions designed to help you make more and keep more money. We have a new workshop every month. Mark your calendars!

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(4 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:55 AM
Today we’re talking about 25 Tax Mistakes That Can Cost You an IRS Audit…and How to Avoid Them.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(5 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:55 AM
Every year millions of Americans make mistakes that red flag their tax returns for audit. Each year, the IRS tells us what they're looking for...and who is at risk for audit. Learn how to avoid the mistakes that make the IRS come knocking and "audit proof" your return to reduce the risk of an IRS audit.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(6 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:56 AM
One thing that makes these workshops fun for me is the great questions that I get from eBay Sellers. Today the first 10 people who ask a question will get a special GIFT. You’ll need to hang around to the end of the workshop, so I can tell you how to collect your bonus. Remember this is only for the first 10 people who respond.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(7 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:56 AM
Face it – it’s scary to get the notice that your return has been selected for audit. That audit anxiety is what the IRS uses to help keep taxpayers honest. Audit anxiety is an important part of our voluntary compliance system. Please note: paying taxes isn’t voluntary. It’s the compliance that is voluntary. Of course, if you’re not in compliance and you’re caught, you can face stiff penalties and even jail time.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(8 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:56 AM
Our goal today is not to scare you, but instead to provide the FACTS on the mistakes that taxpayers do that can end up costing them a lot.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(9 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:56 AM
Now, let’s get started with the countdown of the 25 Tax Mistakes That Cost You An IRS Audit…and How to Avoid Them. First, let’s start with the things that the IRS is specifically targeting this year. These are the people they are making a priority to catch. They call this the “Dirty Dozen.” This is a list you don’t want to be on!

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(10 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:57 AM
#1: Trust Misuse. Unscrupulous promoters for years have urged taxpayers to transfer assets into trusts. They promise reduction of income subject to tax, deductions for personal expenses and reduced estate or gift taxes. A trust, in and of itself, is not illegal. Using them to evade taxes is not.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(11 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:57 AM
#2: Frivolous Arguments. Maybe you’ve heard from the people who claim that income tax is illegal. Promoters of illegal tax dodges have been known to make the following outlandish claims: that the Sixteenth Amendment concerning congressional power to lay and collect income taxes was never ratified; that wages are not income; that filing a return and paying taxes are merely voluntary; and that being required to file Form 1040 violates the Fifth Amendment rights. While taxpayers have the right to contest their tax liabilities in court, no one has the right to disobey the law

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(12 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:57 AM
#3: Return Preparer Fraud. Dishonest return preparers can cause major headaches for their victims. They promise huge refunds and then skim a portion of the refund amount from the client. Unfortunately, they are using illegal means to get the huge refunds. When the IRS catches up with the taxpayers, they get stuck paying back the refund, plus interest and penalties, even though they didn’t receive it. The dishonest preparers are often long gone. Be careful when you hire a tax preparer. Make sure they’ve been around and have credential such as CPA or EA behind their name.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(13 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:58 AM
#4: Credit Counseling Agencies. The IRS Tax Exempt and Government Entities Division has made auditing credit counseling organizations a priority because some of these tax-exempt organizations, which are intended to provide education to low-income customers with debt problems, are charging debtors large fees, while providing little or no counseling. That means they can lose their tax exempt status and will then pay taxes on income.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
)
View Listings
dkennedycpa
Posts: 1,788
(14 of 106)

Member Workshop: 25 Tax Mistakes That Can Cost You an IRS Audit - Oct 18

Oct 12, 2006 10:58 AM
#5: "Claim of Right" Doctrine. In this scheme, a taxpayer files a return and attempts to take a deduction equal to the entire amount of his or her income (generally W-2 income). The promoter advises the taxpayer to label the deduction as “a necessary expense for the production of income” or “compensation for personal services actually rendered.” This so-called deduction is based on a misinterpretation of the Internal Revenue Code. It is not a legal deduction and is a sure-fire way to get a visit from the IRS.

Diane Kennedy, CPA
www.taxloopholes.com
Reply
Reply
Name:
Email:
 
Click for emoticon Click for bold Click for italics Click for underline Click for pre tag Click for url tag Spell Check
Tip: To create a link - type the desired text, highlight it with your mouse and click[Click for url tag]
Tags:
 
Page: of 8
Back to Top

New to eBay Boards? Try a visit to our Community Discussion Boards Help and Welcome Center .

Want to visit another board? You can view our Community Overview Page or select from these lists:

Community Help Boards:

eBay Tools Boards:

Category-Specific Boards:

General Discussion Boards:


Feedback Forum | Discussion Boards | Groups | Answer Center | Chat Rooms | Community Values

About eBay | Announcements | Security Center | Resolution Center | eBay Toolbar | Policies | Government Relations | Site Map | Help
Copyright © 1995-2009 eBay Inc. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. Use of this Web site constitutes acceptance of the eBay User Agreement and Privacy Policy.
eBay official time
hosted by LiveWorld