Tuesday, 7 August 2012

Business Buzz 66: Business Opportunities Weblog: Avoiding A Tax Audit

Business Buzz 66
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Business Opportunities Weblog: Avoiding A Tax Audit
Aug 7th 2012, 13:03

Business Opportunities Weblog
The original blog about business opportunities and business ideas for small business entrepreneurs
Avoiding A Tax Audit
Aug 7th 2012, 11:00

Tax season my be over, but that doesn’t mean you should rest easy yet. Small businesses are often the victims of a tax audit. Fox Business has a few tips to help you avoid being audited.

  • Consider using tax software or a tax professional to complete your tax return.
  • Keep business expenses separate from personal expenses.
  • Always report your full income.
  • If you are claiming unusual deductions, make sure to spell out what the deduction is for so that the IRS can verify it.
  • Meet the tax deadlines!

Photo by Philip Taylor

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