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EOA Lunch & Learn with John Milikowsky

August 20, 2020 @ 11:00 am - 12:00 pm

EOA Lunch and Learn with John Milikowsky – Practical knowledge and pro tips to help minimize the risk of an IRS or California state tax audit and avoid costly mistakes.

Thursday, August 20th | 11:00am – 12:00pm PST

I. Proper due diligence before filing your income tax return

A. How to find IRS’ audit priorities?

B. What are “Reportable Transaction” and “Listed Transactions”?

C. Steps to verify the income on your report and on your tax return matches IRS’ records

II. How IRS selects a tax return for audit

A. IRS’ audit algorithm & process to select a return

B. Matching information from an information return i.e. 1099, K-1

C. Irregularities on your tax return for an individual year or over several years based on your historical tax data

III. California’s new AB5 law defining an independent contractor

A. Pre-2020 law Borello

B. New AB5 standard effective January 1, 2020

C. Due diligence before hiring a worker as a 1099 contractor

D. How does an EDD audit start?

E. Tips to respond to EDD during the unemployment benefit claim or during the tax audit

IV. The Do’s & Don’ts when responding to a federal or state government tax audit

OPEN TO: EOA & EO Members

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Meeting ID: 830 8361 6727
Passcode: 245230
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Details

Date:
August 20, 2020
Time:
11:00 am - 12:00 pm