Audits Medical Profession – Killer Representation
Audits Medical Profession – What to Expect And How We Can Help!
The IRS audits medical profession just as they do other industries. We have experience representing medical professionals in audits. Some physicians are self-employed, others are employers, and still others operate in a corporate or partnership structure. Each has its advantages and disadvantages. Other medical professions operate in varied entity structures as well. Often there is little thought behind this. The same thinking applies to their record keeping. You may feel comfortable that you use the latest technology and highly rated record keeping companies or individuals. However, you may be surprised to find that many do not keep records in a manner that the IRS requires to support the tax deductions claimed on your returns.
Can You Pass an IRS Audit with Little Additional Tax Assessed?
That’s where we come in. When record keeping is delegated to others, they are often unsure of the level of documentation required by the IRS as support. We are well versed in the level of documentation needed.In general, this is what the IRS Audit Division requires for expenses…
- A proof of payment.
- An invoice showing exactly what was purchased.
- Proof that the expense was for business and not personal use.
- Proof that it was for you and/or your business and not another person or entity.
In addition, each expense item tends to have its own set of rules that sway the examiner’s decision one way or another. Income is another matter. There are several income tests that can be used.I suggest that you consult with us to asses your exposure to additional tax assessments. A successful audit saves you more money than the fees for representation.
We have successfully defended some of the following professionals in an IRS audit:
Doctors, Dentists, Nurses, Nursing Homes, Podiatrists, Chiropractors, Endodontists, Maxillofacial Surgeons, Periodontists, Prosthodontists, Anesthesiologists, Dermatologists, Emergency Medicine, EMT or ER, Family Practices, Neurologists, Obstetricians, Gynecologists, Oncologists, Pediatricians, Plastic Surgeons, Psychiatrists, Urologists, Allergists, Immunologists, Hospital Administration, Hospital Employees, Surgeons
WARNING: The IRS has been expanding the scope of many audits. After many years of professional practice as a licensed CPA firm, we understand the businesses of other professionals. Audits can easily spread to other years. You do not want to be caught off guard. We can assist you in successfully limiting damage control from aggressive IRS employees.You don’t have to hide from the IRS anymore. Contact Joe Mastriano P.C. today to see what options we have to help you start resolving your tax problem. With over 30 years of experience the knowledge that comes with that, we can handle anything the IRS has thrown your way. Visit our website or call us NOW at (713)774-4467. Call now to set up a phone or personal appointment.