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Some early not selected test done for the credit/debit card series.
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Let’s talk everyone’s favorite topic on this one: AUDITS!
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For those of you are wondering if doing a specific planning item will increase your audit risk, or if you’ve wondered how audit selection works, I’m going to break that down.
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With every business return that gets filed, there is a specific 6 digit code that is included based on the industry you are in.
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Once filing season is over, the IRS then pulls alllll the returns for that code and compares them. Any returns that have specific expense items way outside the average get pulled for audit.
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This is why, when a professional prepares your return, they should be looking at each line item for reasonableness in your specific industry.
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So whether you get selected for audit or not really depends on how you structure your expenses and tax return filing, not necessarily if you take action on a tax planning strategy.
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If you learned something new from this post, please do me a favor and send it to something who would benefit from it, would you?
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And I appreciate you reading the whole thing.
You might already have all of your credit cards stored on your phone, but the next evolution of Apple Pay is more than a storage device for credit cards — it’s a credit card in its own right. Introducing Apple Card, a new credit card that both lives in the Apple Wallet app and in your real, physical wallet. And it’s made of titanium.
It’s a nice looking card, and it comes with a bunch of great features — but it is a little ironic. When Apple Pay debuted 4 years ago, Tim Cook bragged that people “dreamed of replacing” physical cards for years, saying that physical cards are easy to lose. Now Apple has one of its own. Check out the full story on CNET through the link in our Instagram bio! #apple #appleevent #applepay #applecard #creditcard #goldmansachs #mastercard #payment #titanium
tiny thingss
Art from @sunnyminiworld
more photos ' clicking on tag
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Been thinking a lot about this new AppleCard. As insanely cool as it is what if they expanded on it into more premium high end credit cards that have REALLY good rewards programs for annual fees like the high end AmEx cards out there. Perhaps a Space Grey, and Gold program out there for people who use their credit cards to the Max and are willing to pay annually. #apple #applecard #creditcard #creditcards #americanexpress
Text 6197158511 to find out more info and I will send you the information‼️
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