I am looking at my S-corp (form 1120s) returns from last year that my accountant filed and am just wondering a few things. My company cell phone bill runs roughly $200/month & my accountant makes no reference anywhere as to deducting this expense off. Also, my company phone, internet and fax bills averaged $700/month (shared T1 lines, with 10+ lines and 2 faxes) and there is no deduction on my taxes for this either. Does anyone have any reason or ideas as to why these items would not have been included as deductions anywhere on my returns. I would have thought they would have been included on line 19 for other deductions, but after thouroughly reviewing the breakdown of expenses she included these items do not exist on there. This is roughly 10k of missing deductions. Should these items have been used as deductions on my tax returns? If they should have, should I, or can I, file an amended return with these items listed? Any help would be appreciated. Thanks in advance.
2007-07-01
06:59:19
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4 answers
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asked by
dzwreck
4