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Version vom 15. Juli 2026, 17:30 Uhr

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And the actual audit, our time became his. Our office staff spent equally as much time while on the audit while he did, bring our books forward, submitting every dang invoice out from the past many years for his scrutiny.

Now we calculate if you have any taxes due. Assuming for immediately after that not one other income exists, we calculate taxable income using the take advantage of the business ($20,000) and subtract common deduction (which is $5,950 for 2012) less the exemption deduction (which is $3,800 for 2012). The taxable income would then be $20,000 - $5,950 - $3,800 which equals $10,250. Based on tax law the extra earnings tax due for chore would be $1,099. So, the total tax bill for this taxpayer very well be $1,099 + $3,060 to your total of $4,159.

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