Tax Audit - Garment Manufacturers Industry Edition Ebook

TABLE OF CONTENTS

• Year-end Allowance 6-3
• Why Audit Inventory When
• Warehouse Allowance 6-3
• Volume Allowance 6-3
• Versus Auto Allowances 8-4
• Uniform Capitalization Requirements of
• Trust Fund Recovery Penalty
• Travel 8-1
• Trade Discounts 6-4
• Spin-Off Returns 1-3
• Some Suggested Audit Inquiries 7-13
• Sewing and Cutting Contractors 9-1
• Seasons 2-3
• Sample Expenses 8-7
• Sales, Returns and Allowances
• Sales Invoices 4-3
• Salary Deductions and Accruals 8-5
• Returns 6-3
• Results of the Examinations Conducted 1-2
• Related Entities 1-4
• Purchases 7-2
• Purchase Orders 4-1
• Production 2-2
• Piece Goods and Trim Invoices 4-2
• Period Costs 7-2
• Overview 2-1
• Other Issues 9-4
• Other Independents 9-4
• Other Expenses 8-6
• Other Costs 7-6
• Officers and Shareholders 1-3
• Nature of the Information in this Guide 1-1
• Nature of the Business
• Markdown Allowance 6-3
• Leased Autos 8-4
• Labor 7-4
• Inventory Records 4-4
• Inventory Adjustment 7-22
• Initial Interview 3-2
• Information returns and Back-up Withholding
• Information Returns Statute of Limitations 9-6
• Information Returns Penalties
• Information Return Penalties 1-5
• IRC sections 6652, 6676, 6678 and
• IRC sections 267 and 404(a)(5) 8-6
• IRC section 263A, as Applicable to
• IRC section 263A 7-6
• Gifts 8-6
• General Background 9-1
• Garment Manufacturers 7-20
• Factory Visit and Interview
• Factory Visit 3-1
• Factoring Expenses 8-7
• Factoring Accounts 2-3
• Factor Statements 4-4
• Expense Reimbursements
• Expense Accounts
• Entertainment 8-5
• Ending Inventory 7-7
• Employment Tax Case 1-4
• Employees and Agents 1-4
• Documents Available
• Disputed Charge backs 6-7
• Discounts at Year-end 6-5
• Design 2-1
• Description of Inventory Records 7-11
• Delivery Documents 4-2
• Cutting Tickets 4-3
• Credit Memos and Debit Memos 4-2
• Cost of Goods Sold
• Cost Sheets 4-1
• Contractors 1-4
• Contractor Invoices 4-3
• Commissions for Sales Personnel and
• Changing an Accounting Method Relative to an
• Cash Discounts 6-4
• Balance Sheet Accounts
• Back-Up Withholding 9-6
• Back-Up Withholding --
• Auto Expenses 8-2
• Audit Techniques 9-1
• Allowances, and Discounts 6-4
• All Adjustments Are "Rollovers?" 7-7
• Advertising Allowance 6-4
• Accruing Returns, Allowances, and
• Accounting for Travel 8-1
• Accounting for Returns,
• Accounting for Auto Expenses 8-3
• Accounting and Administration 2-3
• Abatement Considerations 9-8
• (100 Percent Penalty) Statute 9-9