Small Business Tax Strategies

Smart small business owners save thousands of dollars per year on their personal and business taxes by taking advantage of the legal loopholes that the government creates for their unique tax situation. Small Business Tax Strategies cuts through tedious tax code to reveal the bonanza of completely legal opportunities to grow personal wealth and secure an enjoyable retirement.  Learn more about Small Business Tax Strategies and the two free reports you’ll get when you subscribe...

According to a recent report by Accounting Today magazine, small businesses are being targeted for tougher scrutiny from the IRS. The report references a new study by the nonpartisan Transactional Records Access Clearinghouse (TRAC) at Syracuse University.

TRAC researchers noted that federal tax audits of small businesses with between $10 million and $50 million in assets increased 29% from 2005 to 2007. Firms with assets of less than $10 million were 41% more likely to be investigated by the IRS. Conversely, corporate giants with more than $250 million in assets were 40% less likely to be audited.

This trend seems to indicate the IRS is shifting greater focus to the small fries.