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Mobile Food Vendors Industry Edition

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Description

IRS Tax Audit Manual for the Mobile Food Vendors Industry

Focuses on food catering trucks and espresso carts.

TABLE OF CONTENTS

  • Chapter 1 Introduction
    • Purpose 1-1
    • Determining the Focus 1-1
    • Industry Background 1-1
    • Espresso Vendors 1-1
    • Food Catering Trucks 1-3
  • Chapter 2 How to Identify Vendors and Tax Returns
    • County Health Department 2-1
    • Site-Plan Review 2-1
    • Locating Vendors 2-1
    • City Licensing Bureaus 2-1
    • Newspapers and Magazines 2-2
    • State or Local Industry Group 2-2
    • Summary 2-2
  • Chapter 3 Introduction to the Audit
    • Pre-Audit 3-1
    • Books and Records 3-2
    • Document Request 3-2
    • Areas of Consideration 3-3
    • Accounting Method 3-3
    • Purchases 3-4
    • Inventories 3-4
    • Sales Tax 3-4
    • Mark-up 3-4
    • Car Expenses 3-4
    • Home Office Deduction 3-5
    • Supplies 3-5
    • Initial Interview 3-5
  • Chapter 4 Audit Issues Gross Receipts 4-1
    • Inventory and Cost of Goods Sold (COGS) 4-1
    • Operating Expenses 4-2
    • Bad Debts 4-2
    • Car and Truck Expenses 4-3
    • Depreciation and IRC Section 179 Deductions 4-3
    • Interest Expense 4-3
    • Rent or Lease Expense 4-4
    • Taxes and Licenses 4-4
    • Wages and Salaries Expenses 4-5
    • Home Office Deduction 4-5
    • Gains and Losses 4-5
    • Summary 4-6
  • Chapter 5 Audit Techniques Income in General 5-1
    • Screening and Pre-audit Considerations 5-2
    • Consideration of Internal Controls 5-2
    • Consideration of Personal Use 5-3
    • Consideration of Returns and Allowances 5-3
    • Estimating Techniques 5-3
    • Gross Receipts — Mobile Catering Trucks 5-4
    • Estimating Techniques 5-4
    • Additional Considerations 5-6
    • Gross Receipts — Espresso Vendors 5-6
    • Screening and Pre-audit Considerations 5-6
    • Consideration of Internal Controls 5-7
    • Estimating Techniques 5-9
    • Estimating Income from the Sale of Espresso 5-10
    • Estimating Income from the Sale of Italian Sodas 5-13
    • Estimating Income from the Sale of Baked Goods 5-13
    • Estimating Sales of Coffee Drinks Based on Milk Products 5-14
    • Estimating Income from the Sale of Other Items 5-15
    • Additional Considerations 5-16
    • In Depth Procedures such as Indirect Methods 5-17
    • Other Applications 5-17
    • Inventory and Cost of Goods Sold 5-18
    • Spoilage 5-19
    • Operating Expenses 5-20
    • Bad Debts 5-20
    • Car and Truck Expenses 5-20
    • Depreciation and IRC Section 179 Deductions 5-20
    • Interest Expense 5-21
    • Rent or Lease Expense 5-21
    • Taxes and Licenses 5-22
    • Wages and Salaries Expense 5-23
    • Home Office Deduction 5-24
    • Gains and Losses 5-24
    • Summary 5-25
  • Chapter 6 Employment Taxes Employee or Independent Contractor 6-1
    • IRC Section 530 6-3
  • Chapter 7 Back-Up Withholding
    • Internal Revenue Code Section 3406 7-1
    • Abatement of Back-Up Withholding (IRM 4652) 7-2
    • AIMS Procedures 7-3
    • Procedures for Asserting Back-Up Withholding (IRM 4696) 7-3
    • Substitute for Return Procedures (IRM 48(13)1) 7-3
  • Chapter 8 Penalties General 8-1
    • Criminal Fraud Penalty: (IRC section 7201) 8-1
    • Civil Fraud Penalty: (IRC section 6663) 8-2
    • Accuracy-Related Penalty: (IRC section 6662) 8-2
    • Failure to File Correct Information Returns: (IRC section 6721) 8-3
    • Failure to Furnish Correct Payee Statements: (IRC section 6722) 8-4
  • Chapter 9 Compliance 2000 General 9-1
    • Compliance 9-1
    • Underreported Income 9-1
    • Summary 9-2
  • Glossary
    • Accounting Terminology G-1
    • Food Catering Truck Terminology G-2
    • Espresso Terminology G-2
    • Tasting Terminology G-4
    • Espresso Drinks G-6
Don’t forget – The IRS Tax Audit Manual for Mobile Food Vendor’s Industry isĀ tax deductible as a business expense!