Uncle Sam's Tax Audit Assistant, Bail Bond Industry Edition

Who Wish Bail You Out Of Trouble Once The IRS Comes For You?

Bail Bond businesses are generally operated on the cash basis know how of accounting and are really cash intensive. Bail agents often prefer to collect cash rather than checks, due to the nature of their clientele. Internal Revenue Service Audit Agents have knowing that gross receipts are normally 50% to 80% cash. Discover more...

The IRS wish receive a summons to receive the following information:

• Withdrawals from the agents BUF account
• Total interest accumulated on the agents BUF account
• Total Bail Premiums Attained
• Bond Price Incurred
• BUF Payments ready made to the surety institution
• ...And any another information control by the surety company.

General Audit Issues:

• Tax Treatment of Bond Price
• Reimbursed Expenses Collateral
• Premium Financial gain
• Income From BUF Accounts
• Gross Financial gain
• Change In Accounting Know how
• BUF Payment Deductions

Find out NOW exactly what an Internal Revenue Service Audit Agent wish be looking for in these areas and how you can prepare in advance to SURVIVE an IRS Audit! Reserve your copy of Uncle Sam's Tax Audit Assistant specifically written for the Bail Bond Industry!Uncle Sam's Tax Audit Assistant, Bail Bond Industry Edition

TABLE OF CONTENTS

Chapter 1: Introduction

• Third Party Records 1-1
• Areas of Disobedience 1-1

Chapter 2: An Summary of the Bail Business

• Types of Licenses 2-1
• Transacting Bail 2-2
• Surety Contracts 2-2
• Subagents 2-3
• State Control 2-1
• Bail Bond Defined 2-1

Chapter 3: Project Initiation

• Screening and Selection Process 3-2
• Identifying the Target Population 3-1

Chapter 4: Nature of Business

• Terminology 4-3
• General Attributes 4-1
• Books and Records 4-1

Chapter 5: Applicable State Laws

Chapter 6: Preliminary Audit Steps

• Third Party Sources 6-2
• Required Filing Checks 6-3
• Internal Sources of Information 6-1
• Initial Interview 6-2

Chapter 7: Primary Audit Issues

• Tax Treatment of Bond Price 7-5
• Reimbursed Expenses 7-3
• Premium Financial gain 7-2
• Income From BUF Accounts 7-1
• Gross Financial gain 7-1
• Collateral 7-3
• Change in Accounting Know how 7-6
• BUF Payment Deductions 7-4

Chapter 8: Establishing Fraud

• Understatement of Tax 8-1
• Fraudulent Intent 8-2