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Small Business Owners Beware of IRS Self-Employed Division

www.fieldlawpc.com If you are self-employed or have a small business, it is extremely important that your taxes are done correctly since the IRS has a small business self-employed division specifically for auditing small business owners. Los Angeles business and tax attorney Jeffrey Field, of Field Law, explains more about this in this video.

The small business self-employed division at the IRS is a proactive group because they know that many self-employed people and small business owners hide money or do not report all of their cash and earnings. If you make over $100,000, the statistics are that 6.9% of all Schedule C proprietors are audited; however, if you set up an LLC or S Corp, that statistic drops to .4%. There are ways to avoid getting audited, and this may be an area you should consider. Entity selection is important, as well as having the proper records and tax plan in place. All of these things will help level the playing field between you and the IRS.

We can establish your tax position properly to stop the IRS from harassing you and to avoid audit paranoia. Call today to find out how California business attorney Jeffrey Field can help you. Call (855) 503-0699 or (818) 369-7900 to schedule a free legal consultation today. You can also visit our website at www.fieldlawpc.com to get answers to frequently asked questions and request our free tax book.