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Started By
Message
CPA needed - IRS Audit
Posted on 1/6/18 at 8:30 am
Posted on 1/6/18 at 8:30 am
Can anyone recommend a decent cpa around the br area? I am being audited by the irs and my taxes were filed thru TurboTax so obviously it’s not looking too good for me.
9
Posted on 1/6/18 at 10:18 am to JusTrollin
quote:
my taxes were filed thru TurboTax so obviously it’s not looking too good for me.
Why would that not look good for you? Either you have the records to back up your filing or you don't, having a CPA doesn't change that.
Posted on 1/6/18 at 10:59 am to foshizzle
quote:
Why would that not look good for you? Either you have the records to back up your filing or you don't, having a CPA doesn't change that.
This! Maybe he needs a lawyer instead, lol
Posted on 1/6/18 at 12:52 pm to the LSUSaint
I traded in a truck half way thru 2015 and bought a new one. For some reason after entering in all the values TurboTax listed a depreciation value of roughly $24,000 on the 2106 form. I’m unsure of how this calculation was derived and I’m assuming it’s extremely high and far off. I just need a professional to tell me how to make it right.
If I do nothing I’ll owe the irs roughly $7,000 more dollars. I don’t see the need for a lawyer here.
If I do nothing I’ll owe the irs roughly $7,000 more dollars. I don’t see the need for a lawyer here.
Posted on 1/6/18 at 12:59 pm to JusTrollin
quote:Business vehicle?
I traded in a truck half way thru 2015 and bought a new one. For some reason after entering in all the values TurboTax listed a depreciation value of roughly $24,000 on the 2106 form. I’m unsure of how this calculation was derived and I’m assuming it’s extremely high and far off. I just need a professional to tell me how to make it right.
If I do nothing I’ll owe the irs roughly $7,000 more dollars. I don’t see the need for a lawyer here.
Posted on 1/6/18 at 1:17 pm to NOSHAU
Personal truck that I use for work but gets a lot of work mileage. 80% work usage.
Posted on 1/6/18 at 1:31 pm to JusTrollin
quote:
Personal truck that I use for work but gets a lot of work mileage. 80% work usage.
Depreciation calculations go according to a formula and so long as you can document that you provided Turbo Tax the right numbers you should be fine.
This should get you started.
Posted on 1/6/18 at 2:00 pm to foshizzle
dude, you need to fight these guys with fire. dont give an inch. I dont think you did anything wrong. Stack the deck in your favor. I wouldnt give the IRS a single penny I didnt owe them.
Posted on 1/6/18 at 2:03 pm to JusTrollin
Check with Turbo Tax to see if they stand behind their work first
Posted on 1/6/18 at 3:24 pm to JusTrollin
quote:Make sure you can support the work usage. Also, make sure you are properly claiming any reimbursements you are getting from work usage by employer.
Personal truck that I use for work but gets a lot of work mileage. 80% work usage.
Posted on 1/6/18 at 3:42 pm to JusTrollin
did you not buy they legal support from TT?
Posted on 1/6/18 at 4:49 pm to JusTrollin
Get the audit wrapped up as quickly as possible and get to appeals. Either hire an attorney or just represent yourself.
Posted on 1/6/18 at 5:05 pm to JusTrollin
Are you being audited or just got a letter stating they foUnd an error
Posted on 1/6/18 at 5:20 pm to Tigerpaw123
I got audited once and they said I owed them around $20k if I remember correctly. I ended up writing them a check for around $1,100. If you have the records there is nothing to sweat unless you were really cheating a lot.
Posted on 1/6/18 at 6:00 pm to Tigerpaw123
It’s an audit.
I’m seriously questioning this depreciation amount. It just seems extremely high to me. $24k for 1 year?! I may have the turbo tax audit defense since I bought the max package it looks like. I will have to call them Monday.
If I have a problem with it this year I’m sure my 2016 is fricked up as well too.
I’m seriously questioning this depreciation amount. It just seems extremely high to me. $24k for 1 year?! I may have the turbo tax audit defense since I bought the max package it looks like. I will have to call them Monday.
If I have a problem with it this year I’m sure my 2016 is fricked up as well too.
Posted on 1/8/18 at 12:22 am to JusTrollin
Did you take Sec 179 on the truck?
What exactly is the IRS asking for?
What exactly is the IRS asking for?
Posted on 1/8/18 at 1:22 am to LSUFanHouston
quote:That's what it sounds like since they are asking about his vehicle depreciation on form 2106.
Did you take Sec 179 on the truck?
Posted on 1/8/18 at 7:00 am to JusTrollin
First off, have a beer and relax. Being Audited doesn't mean you did anything wrong it just means you look suspicious.
2ndly, as said if you are using Turbo Tax for your business you should be and likely paid the little extra for the help in case of an issue. I have no idea what that help will actually do for you, it could be crappy and just a marketing scam for the most part. But talk to Turbo Tax first.
You should have freaking known $24k was likely too much lol. Let's be honest. How much was the purchase price and how old of a truck was it?
2ndly, as said if you are using Turbo Tax for your business you should be and likely paid the little extra for the help in case of an issue. I have no idea what that help will actually do for you, it could be crappy and just a marketing scam for the most part. But talk to Turbo Tax first.
You should have freaking known $24k was likely too much lol. Let's be honest. How much was the purchase price and how old of a truck was it?
Posted on 1/8/18 at 7:42 am to JusTrollin
I had a similar situation with the IRS. Got a notice I owed 8K, ......turns out I only owed about $200.00 I used a CPA in BR . Neal King @ HWC. Best money I ever spent.
Posted on 1/8/18 at 8:51 am to JusTrollin
It's sad the IRS would waste time with an audit over this when there are so much bigger fish to fry. A few years ago my CPA told me that one of his conference rooms was inhabited by an IRS auditor who had been there all week, aduiting his client, a Mary Kay sales person. Pathetic!
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