In addition to our various pro bono endeavors Selig & Associates, Inc sponsors Men’s Lacrosse at Nassau County Lacrosse. Root for the Home Team – On Wednesday evening (July 3rd) the Red Rockets scored their first hard won victory over the Associates in a contentious old school style grudge match. Unfortunately, prior to the big game one of our star players (a practicing surgeon) was sidelined by a season-ending ACL injury – but according to Lacrosse Coach Bradley Dorin, this setback didn’t deter the Associates’ who still brought it to the Rockets and fought the good fight. Special props to Joey Giarusso (a sales professional at IBM and aspiring young actor) for dominating the field with his masterful use of the Ol’ Dip and Dunk. Support the Team and join us at our next game this Tuesday July 9th when the Associates face Chillax. Then on Wednesday July 17th the Associates take on the Generals, for what promises to be an amazing game. We’ll see you there.
Our First Webinar was a Huge Success
On July 5th Selig and Associates, Inc held its very first Webinar. Participation was brisk and interruptions were kept to a minimum. Among the topics covered: Permissible Business Deductions under IRS Publication 535 and IRC Section 162; How to Survive a Sales Tax Audit; Tips on Advertising in a down economy and Establishing a Realistic Advertising Budget. In the future, Selig & Associates will be providing “free of charge” prerecorded tutorials about Tax Representation and other important topics. Stay tuned.
Are you being Audited?
“A man who acts as his own attorney has a fool for a client”
It’s always advisable to be represented at audit. If you appear on your own behalf, you may be asked a question that you’d rather not answer. In such a case, you must either make a statement against your own self-interest, refuse to answer, or lie. None of these options are advisable.
Moreover, the examiner’s question may be improper or beyond the scope of the audit. Remember, Revenue Agents are specially trained to look for fraud – and if they believe you’ve taken fraudulent deductions or willfully excluded income, your case will be referred to the IRS’s Criminal Investigation Division.
So what exactly is Tax Evasion? According to IRC Section 7201, any person who willfully attempts to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be imprisoned not more than 5 years, or fined not more than $250,000 for individuals ($500,000 for corporations) or both, together with the costs of prosecution.
Originally Posted: http://nearsay.com/c/12005/11728/lacrosse-the-irs-and-much-much-more