Does the fear of an IRS audit keep you awake at night? Although most people will never have to worry about an IRS audit, those who have been through the process can tell you that it’s something they only hope to experience once.
If you’ve never been through an audit that means you must be doing something right. However, if you’re concerned that at some point the IRS might choose you, there are some things you can do to prevent an audit, or at least decrease the probability of being selected.
- Tell the truth when you file your taxes
- Get organized and keep detailed records
- If you’re self-employed keep track of everything
- Avoid unreasonable deductions and keep track of all of them
- Try to avoid fluctuations in your income
- Don’t make too many charitable donations
- Let a professional prepare your taxes
It’s impossible to completely rule out the possibility of an IRS audit, but by taking these measures you can greatly reduce your chances of being chosen for an audit. If you feel like the IRS might single you out for an audit, then contact the professional CPAs and tax advisors at GROCO for help.
We have helped thousands of individuals and businesses from all walks of life, including many who have been audited by the IRS. We can help you, too. Just click here to contact us, or call us at 1-877-CPA-2006. You can also click here to read more about each of these audit-avoiding strategies.
The post Simple Strategies for Avoiding an IRS Audit first appeared on Advisors to the Ultra-Affluent – Groco.
