Tax Return Question?

Question

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.

Answer 1

according to income-tax law es all expenses that generated the income could be deducted from the gross profit .
this is general and essential idea of income tax law , and assessores some times demand documents to sour of these expenses
but in general all expenses generate income shall be deducted

Answer 2

Yes those should definitely have been written off! I recommend filing the ammended return. People write off much bigger expenses. I met someone who wrote off their son's truck because they owned a ranch and claimed that it was ranch equipment. Therefore, you deserve your deductions for your business.

Answer 3

Without examining the return and all supporting schedules it's not possible to say if they were claimed or not. You should ask your accountant about it. If she erred she should correct the problem at no cost to you.

Answer 4

Have you asked your accountant that question? Would seem more like a uestion for him/her than for Yahoo Answers.