Tax Audit - Mobile Food Vendors Industry Edition Ebook

TABLE OF CONTENTS

Chapter 1 Introduction

• Purpose 1-1
• Industry Background 1-1
• Food Catering Trucks 1-3
• Espresso Vendors 1-1
• Determining the Focus 1-1

• Summary 2-2
• State or Local Industry Group 2-2
• Site-Plan Review 2-1
• Newspapers and Magazines 2-2
• Locating Vendors 2-1
• County Health Department 2-1
• City Licensing Bureaus 2-1

• Supplies 3-5
• Sales Tax 3-4
• Purchases 3-4
• Pre-Audit 3-1
• Mark-up 3-4
• Inventories 3-4
• Initial Interview 3-5
• Home Office Deduction 3-5
• Document Request 3-2
• Car Expenses 3-4
• Books and Records 3-2
• Areas of Consideration 3-3
• Accounting Method 3-3

• Wages and Salaries Expenses 4-5
• Taxes and Licenses 4-4
• Summary 4-6
• Rent or Lease Expense 4-4
• Operating Expenses 4-2
• Inventory and Cost of Goods Sold (COGS) 4-1
• Interest Expense 4-3
• Home Office Deduction 4-5
• Gains and Losses 4-5
• Depreciation and IRC Section 179 Deductions 4-3
• Car and Truck Expenses 4-3
• Bad Debts 4-2

• Wages and Salaries Expense 5-23
• Taxes and Licenses 5-22
• Spoilage 5-19
• Screening and Pre-audit Considerations 5-6
• Screening and Pre-audit Considerations 5-2
• Rent or Lease Expense 5-21
• Other Applications 5-17
• Operating Expenses 5-20
• Inventory and Cost of Goods Sold 5-18
• Interest Expense 5-21
• In Depth Procedures such as Indirect Methods 5-17
• Home Office Deduction 5-24
• Gross Receipts -- Mobile Catering Trucks 5-4
• Gross Receipts -- Espresso Vendors 5-6
• Gains and Losses 5-24
• Estimating Techniques 5-9
• Estimating Techniques 5-4
• Estimating Techniques 5-3
• Estimating Sales of Coffee Drinks Based on Milk Products 5-14
• Estimating Income from the Sale of Other Items 5-15
• Estimating Income from the Sale of Italian Sodas 5-13
• Estimating Income from the Sale of Espresso 5-10
• Estimating Income from the Sale of Baked Goods 5-13
• Depreciation and IRC Section 179 Deductions 5-20
• Consideration of Returns and Allowances 5-3
• Consideration of Personal Use 5-3
• Consideration of Internal Controls 5-7
• Consideration of Internal Controls 5-2
• Car and Truck Expenses 5-20
• Bad Debts 5-20
• Additional Considerations 5-6
• Additional Considerations 5-16