Larry Mullins CPA

What Can a CPA Do that a Regular Accountant Can’t?

What can a CPA do that a regular accountant can’t? That’s what we’d like to address today.

Five guys committed a $13 million tax fraud. Here’s how much prison time they’ll do

Miami-Dade residents Jamal Dyer, Jorge Osorio-Rodriguez, Tramaine Sealy, Jonathan Edwards and Daniel Murias each have been sentenced to do federal prison time after pleading guilty to a $13 million tax fraud

What Are Account Detail Types in Quickbooks?

If you’re planning to keep track of your business’s financial records using Quickbooks, you’ll need to familiarize yourself with the accounting software’s detail types. Whenever you create an account in Quickbooks — expense account, income account, liability account, etc. — you’ll be prompted to choose a detail type. It’s important that you choose the right detail type because this will affect the subcategory in which the…

Is Hiring a CPA Worth it? 5 Tips for Getting Your Money’s Worth

Often when people find out I’m a tax accountant, I get asked, “How much does a CPA cost?” It’s like me asking “How much does a home cost?” We all understand that a 1,000 square-foot home in Kansas has a different cost than a 1,000 square-foot penthouse condo in New...

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.

IRS Tax Tip: Ten Tax Tips For Individuals Selling Their Home

The Internal Revenue Service has some important information for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may be able to exclude all or part of that gain from your income.Read more →

Accountants Agree: The Top Five Ways to Fix the IRS

ACTIONABLE INTELLIGENCE FOR TAX, ACCOUNTING, AND FINANCIAL PROFESSIONALS

Taxpayers often question how long records must be kept and the amount of time IRS has to audit a...

How to Avoid a Small Business Audit By The IRS

An audit can make or break your business. Learn how to avoid a dreaded small business audit from the IRS so you can sleep easy and focus on making your enterprise a success.

Avoid these 3 tax-filing mistakes unless you want the IRS to audit you

You could be inviting a tax audit by failing to report all of your income, estimating your deductions or claiming 100% business use of your car.

5 things that trigger an IRS audit

If you want to know how to reduce your chances of getting flagged for an audit, then you need to know what can trigger it

How To Win An IRS Hobby Loss Audit

With proper preparation, a taxpayer can prevail against the IRS in a hobby loss case.

IRS Tax Audit or Tax Notice: What's the Difference?

You check your mail and find a tax letter from the IRS–but you’re not expecting a refund. This letter is most likely either a tax notice or an audit notification. …

How To Survive an IRS Audit of Your Business

An IRS audit can be intimidating, but seeing how it works can help. Learn about the process, what documents you need, and how to avoid audits.

Avoid These Small Business IRS Audit Mistakes

Here are several mistakes to avoid if your business gets audited by the IRS.

Does the IRS Audit By Mail?

Yes they do. Most IRS audits are actually conducted through the mail instead of face to face meetings with revenue agents. These are calle...