(203) 956-4899 | (203) 291-9093
cecil@nazarethcpas.com
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REMINDER: PPP loans below $50,000.
There is a simplified form you must fill out.
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IRS Audits on the Rise
- Stepped up audits for those who report high Schedule C losses.
- Taxpayers who don't report foreign income or FBAR compliance. Ref. recent Brockman case.
- Anyone dealing in crypto-currency.
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Real estate losses are passive losses and are not deductible subject to some thresholds.
- Commingling of business and personal expenses.
- Non-filers.
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Why Have a Personal Financial Statement?
- Helps your plan your overall wealth.
- Aids in estate planning, gifting and trusts.
=========================================Now Is a Great Time to Refinance
- Mortgage rates are at historic lows.
- Lower your monthly payments; increase cash flow.
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Security - Phone scams. NEVER respond to phone calls or emails from the IRS. The IRS will only send you written communication by postal mail. Never email documents containing your Social Security numbers.
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Why You Want an Independent Review of Your Company's Financial Statements
Banks, lenders, acquirers and auditors look more favorably at your financials if they’re independently reviewed or audited and you’ll likely receive better rates and terms.
Contact us for assistance with your personal and business financial statements.
We offer three levels of service:
1) Compilation. Simple compilation of financial statements.
2) Review. More analytical procedures performed.
3) International Tax Planning. (India-US specialty).
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