Thursday, May 15, 2014

Avoiding an Audit

Taxes - Word on Calculator for Tax Accounting
Ah, the dreaded tax audit. There are two types of people in the world as it relates to this sensitive subject. 

First, you’ve got your people who will have to go through the horror and worry of an audit. Second, you’ve got your people who never will. Everyone wants to be in that second group, but getting there isn’t easy. However, there are a few things you can do to greatly increase your chances of being in the “good group.”

For starters, report all of your income, every last bit. Cutting corners is a surefire way to end up in deep trouble. Another thing you’ll always want to do is to ask questions as they arise! Never just make a “best guess” and hope you did the right thing. Know for sure; taxes are not something you should take chances with, since incorrect filing can cause you to incur some serious penalties and perhaps face a tax audit.


The absolute best way to avoid an audit and to avoid error is to let someone else handle your taxes—someone who knows the tax business inside and out. You can find that person at Susan S. Lewis Ltd. of Naperville.

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