There's a lot of talk online about audit red flags and how to avoid them. I've heard every form, deduction, and strategy thrown out there as something to avoid. My best advice is to cancel out the noise and file your tax turn as accurately and honestly as possible to avoid an audit.

However, there are some things that may cause the IRS to flag you for an audit. Some of these include deducting more than other people in your profession, deducting different items than others in your profession, or lumping multiple businesses that have different purposes under one tax return. Ultimately, if you have justification and documentation, you're good to go!

 

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.