I have never had one but worry about having one. I haven't done anything wrong or nothing should really stick out. Probably having an audit is one of life's most stressful money moments.
5 audit red flags shows you how to keep a low profile in the eyes of the IRS and avoid an audit.
Overkill on charitable contributions
We have donated two cars to charity because we wanted the tax deduction. I am glad that we didn't overinflate the value because that can stick out like a sore thumb.
The smart things is to have receipts for your charity giving.
Too many deductions for the self-employed
I am self-employeed (affiiate marketing and my Cognigen biz) and I get decent money from it. I make sure my deductions are legit and keep track of all expenses.
Above-average deductions
We are average average boring folks here! 3 kids, mortgage, nothing out of the ordinary here.
Making six figures
Not in this category but it won't stop me from hoping to be here one day. Of the 1.2 million audited last year almost 20% had income of 100,000 or more.
Careless omissions
Take the time to do it right the first time. Keep your 1099, W-2 and all other tax paperwork in safe and organized. Use a tax prepared or software to help you do it correctly.
Hopefully I will never have to experience a tax audit. As long as I hopefully do not stand out too much, my husband and I will be ok.
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