| Show I Page ?6 1 Heralii Journal Logan Utah Sunday February 1:9 16 1997 People in Business What to expect ( 'ontinunl from Page 25 if you’re audited WA S N( 1 1 i I ( ) he mi mi Mi- - tlieuleil word in ksioul ill I II lixpus “uudii" lint keeping’ l'uhiI reenids uul lamiliiriim: vuuiscll with hc iiiulit prueess in iibmee can help ease I Ik- cpi 1l1i h hi II11I iml looking mi ilu- Infill Mile 1 - 1 Must luxpiverv' chinees nl hei njc audited In lie lniernil Reenue Service me slim In 1'herc's your appointment instructions lor getting a post- begin wilh about I in IIHl unless they earn mure t linn SliNllNNI a year nr operate llieir nun Inisi-nes- s And even snnienne unlucky enough In lie picked his ulmul n I in K chanee nl' owing nothing nr even getting i refund I3nri n an iiudil you may feel as if you're nil trial Ihere’s one important difference however In a criminal trial the prosecutor has In prove you're guilty In an audit you have to prove your return is correct That may seem unfair hut many tax experts argue that the IRS would have to he even more intrusive if the burden of proof were reversed Audits come in three basic types In order from to worst they are: correspondence office and field In a correspondence audit the IRS sends a letter questioning specific aspects of your return You reply by mail sending copies — never originals — of any documents needed to prove your points An office audit is conducted at the IRS office closest to your home Again these arc usually limited to specific areas But nnt-so-h- Jison llieie's in lli lie in keep suspimi delving into cious iiiiliim oilier areas so dmi l bring along irielev ant dncumciils and don't chatter mi about your finances Just answer the agent's questions in a kliiecl piliie ami businesslike lash inn II ynu're the subject of an nil ice audit you'll get a Notice )II4 wilh the lime and place of (AIM There's I Shareholder ponement it you can t make the first one or if you need more time to prepare But the IRS usually won't grant more than two postponements without a compelling reason such as serious illness Many taxpayers represent thcmscivcs especially when the amounts involved don't justify hiring a professional But they have the right to have an attorney A Iyle has omcd the lirni of Nelson Realtors as a shareholder and part-own- Doing this has allowed hint to pros ide a belter serv ice to his clients as well as being part of the company decision-making process Jason can he reached by calling 4 0 (cellular) or (office) or email (jlylcfri cachcnet) 834-423- 755-610- agents come to your home or business Field audits generally Fills position Cameron Johnson recently successfully completed the Inlermountain Power Superintendents Associ-ationU- S Journey- man Lineman Exam given by Utah Vhlley State College The testing is a culmination of Dr Anne M Butler professor of history and coeditor of the Chapter Chair Bryon K Smith of Uigan has been selected as chapter chair for the Northern Utah Chapter of SCORE Service Corps of Retired Executives Association which is sponsored by the US Small Business Administration The Northern Utah Chapter includes 13 counselors who assist smaller emerging and developing businesses in all facets of operations and development Advice and counsel are provided free of charge generally cal Quarterly was selected as the Women and Gender Research Institute (WGRI) Distinguished Professor for 1996-9- 7 This triennial award recognizes the outstanding leadership of women professors in their scholarly or creative disciplines or the leadership of men or women professors who conduct research on gender issues Dr Butler’s newest hook Gen- dered Justice: Women Prisoners Give us a call that you want listed let The Herald Journal know by calling 752-212- 1 Stock split or stock dMdend amounting to 25 percent or more In the past 52 wooks n New issue in past 52 weeks a Indicates a dividend was declared in preceding 12 months but that there isn't a regular dividend rate a Extra dividend or extras in addition to regular dividend Agents check out your house your neighborhood your car et cetera to see if it jibes wilh y"-reporte- income Ribbon cutting Mitck Surgical Products Inc is holding a ribbon cutting at 11:45 am Friday Feb 21 1997 at 836 S 100 East Smithfield Utah to celebrate its new 1 s lifestyle auditing multi-billio- Week ending February 141997 Common footnotes involve by retired executives with significant business experience The chapter also sponsors quarterly workshops for local emerging and developing businesses There will be a SCORE workshop the evening of Feb 25 and 26 at the Bridgerland Applied Technology Center Bryon 's business background includes service as an executive with Chase Bank in New York n chief financial officer for a dollar international company financial accounting and consulting with two international accounting and consulting firms and a senior jxsition with a high technology firm Bryon recently returned to Cache Valley and serves as a director for his family's expanding business Edwards Furniture He is a graduate of Utah State University and Sky View High School He and his wife Michele and their four children live in Logan Market highlights ttwa ii a New Yorii Stock Exchange Hating you don't see here If the stocks wide-rangi- so-call- Honored Reading and usually tararc get wealthy people and business- es They sometimes in the American lli'vr joins a list of several olhers she has cither written or edited by herself or wilh colleagues As a researcher w riler and speaker Dr Butler ranks among the key figures in the field of western history She will receive her award and share her research in a Great Issues entitled “Justice Denied: Vonion Behind Bars" at 12:30 pm March 4 in the Ecclcs Conference Center Auditorium A reception in the foyer is to follow Western Histori- certified public accountant or enrolled agent (someone who's Department of Labor test that gives passed a two-da- y them (he right to represent taxpayers before the IRS) go with them or go instead of them If you represent yourself and feel the audit is getting away from you you have the right to suspend it at any time and ask for the chance to consult a tax professional In a field examination IRS Cameron's three-yea- r apprenticeship wilh City Light and Power City Light and Power commended Cameron on his lest performance and the effort he has put into obtaining this important certification and welcomed him as its newest journeyman lineman As the supplier of electricity to the community Iaigan City Light and Power is locally owned and operated Induslriih) (311 698896 13316 HsnM Journal New York Stock Exchange weekly report Qjgs&tiUifKSll H BtaneC 17 12 StorTefi 54 24 SMdcfll 13 0 SummMc SO 32 SunCo 32 21 Bunamera SI 22 12 C0 40 4 JO 11 144 100 27 JO SO 4 403 1 ' 4 T lalillwillMlIsHb T JKvsr Johnjne JormApi J SC Vi M CO C2 42 20 70 Cl SB 1 1 Xa j TS I V M s r r NHC 32 SO 1950 3 Stock prices mixed as Dow hits record high NEW YORK (AP) — Stocks were mixed Friday — ignoring bullish inflation news — as some investors took profits following the Dow Jones industrial average's first close above 7 (XX) At noon on Wall Street the 30 industrials were down 1809 points to 700435 The Dow climbed 6081 Thursday closing at 702244 Advancing issues slightly outnumbered dediners by about on the New York Stock Exchange Volume was 22285 million shares down from Thurs -6 day Broad-mark- et indexes were lower The Standard & Poor's 500 stock index was off 193 to 80989 The NYSE composite index was down 036 to 42406 Weakness in some technology issues pulled the Nasdaq composite index down 335 to 136746 The American Stock Exchange market value index was off 009 to 59531 The Dow's move above 7000 marked its fastest advance ever 1000-poi- nt r |
