Thursday, April 5, 2007

How to Avoid an IRS Audit

Avoid That Audit
By Jennifer Openshaw

I know you've heard it before, all the usual advice about keeping the IRS away.

Avoid tax shelters. Make sure your side business earns money, at least once in a while. Make sure its deductions and the home office are legit. Don't refile your return.

But you know what? Even without a side business or any special deductions, you still might be in the IRS cross hairs. Now, full disclosure: I strongly support paying the taxes you're legally required to pay. But no more. And if you're paying what you should be, and can explain it, an audit shouldn't be a problem.

Read the rest here.

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