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IRS Rolls Out New Random Audit |
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Next fall, we'll see the return of the IRS's random audit, with the first wave beginning in October and targeting about 13,000 returns for the 2006 tax year. Currently the IRS faces intense pressure from Congress to mend the $290 billion national "tax gap," or the difference between what the government collects each year vs. what it should be collecting. IRS officials and congressional investigators say research has shown that tax "noncompliance" is high among the self-employed. |
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How to find funding for your start-up |
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If your new business is like most startups, you're seeking somewhere between $5,000 and $50,000 to get it off the ground. After exhausting your personal savings and loans from relatives and friends, your first instinct might be to get a bank loan or an SBA loan. Before you act on this instinct, let me tell you about three common misconceptions about bank financing for business startups. |
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