Comments on: Will You Be Audited? http://www.consumerismcommentary.com/2006/04/17/will-you-be-audited/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Making Our Way http://www.consumerismcommentary.com/2006/04/17/will-you-be-audited/#comment-2405 Making Our Way Tue, 18 Apr 2006 06:13:23 +0000 http://www.consumerismcommentary.com/2006/04/17/will-you-be-audited/#comment-2405 Key defenses to prepare for the possibility of an audit are: 1. complete documentation of your deductions 2. engaging a professional (cpa, etc....) to review your return before sending it in 3. avoiding some of the most glaring red flags like: a. home office deduction b. hobby business (a schedule c "business" that has not made a profit in 3 of the last 5 years) Good luck. makingourway Key defenses to prepare for the possibility of an audit are:

1. complete documentation of your deductions
2. engaging a professional (cpa, etc….) to review your return before sending it in
3. avoiding some of the most glaring red flags like:
a. home office deduction
b. hobby business (a schedule c “business” that has not made a profit in 3 of the last 5 years)

Good luck.

makingourway

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