Tax Audit - Business Consultants Edition Ebook

Business Consulting is one of the fastest growing industries in the world today. This trend is a result of the many changes occurring in the world economy. During the past two decades, the business community has been downsizing which has caused the displacement of many workers. These displaced workers have created a growing industry now known as consulting. Some of these former employees are now contractors who are engaged by the same company and/or industry which previously employed them.

Potential Audit Issues:

• Value Based Arrangements
• Travel
• Reimbursed Expenses
• Personal Service Corporation
• Not-For-Profit Organizations
• Meals and Entertainment
• Independent Contractor vs. Employee

TABLE OF CONTENTS

Objectives vii

Other Required Material vii

Chapter 1: Market Segment Definition and Overview

• Returns Examined 3
• Market Segment Definition 1
• Internal Control 3
• Conclusion 3
• Common Practices 2

• Uniform Issue Numbers 7
• Research Material 6
• Pre-Audit 4
• Law 4
• Audit Techniques 4

• Uniform Issue Numbers 11
• Research Material 11
• Pre-Audit 7
• Other Information 11
• Law 8
• Audit Techniques 8

• Uniform Issue Numbers 13
• Research Material 13
• Pre-Audit 12
• Law 12
• Audit Techniques 12

• Uniform Issue Numbers 17
• Taxable Year 16
• Tax Rates 15
• Tax Avoidance by Personal Service
• Pre-Audit 14
• Passive Losses 15
• Law 15
• Employee-Owner Compensation
• Deduction Limitation 16
• Corporations 16
• Audit Techniques 14
• Accounting Method 15

• Uniform Issue Numbers 20
• Research Material 20
• Pre-Audit 18
• Law 18
• Audit Techniques 18

• Uniform Issue Numbers 22
• Pre-Audit 21
• Law 21
• Audit Techniques 21