Guest, Dan Pilla of TaxHelpOnline.com joins to to discuss the MANY MANY MANY traps in this years tax code and what you can expect to be hit with.

Joe Biden’s plan on taxes, raise them and hire more agents to go after you

Single most common mistake that small businesses make… launching into a business entity without understanding the record-keeping you have to maintain. The key is to keep a record-keeping system it as simple as possible. Sole prop is the easiest records to keep. Checks you write to yourself are not an expense, it’s a distribution of income.

The tax code is SO huge, that most agents couldn’t possibly know all the law. Plus, they don’t go by the “law”, they go by the tax manual.

The decisions of tax auditors are NEVER final. You always have the write to appeal. The appeals office is tasked with trying to negotiate a settlement. Still not final. After that, you can take it to tax court and have it heard. The higher up the ladder you go in the IRS, the better chance you have of an accurate and fair assessment.

His book .. Dan Pilla’s Small Business Tax Guide. will save you much aggravation

AND as always, we’ll be covering current events, including those weird news items that you may not have heard or read in the mainstream media accounts. Be sure to tune in!