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Andrew: Red Flags for Auditing?

Hello Andrew, I enjoyed your interviews that were posted in the homepage of the website. You briefly mentioned your auditing rate for your physician clients. I was wondering from your experience what in those returns made the IRS suspicious? Not that I want to avoid anything but just to make sure which records I should keep accessable and pristine

Zip Code: 96822

Re: Andrew: Red Flags for Auditing?

It seems like the IRS focuses on different things each year. Last year, the majority of our clients who were audited were people who had a Schedule C that showed a loss.

In the past, people received their audit notifications during early May, so I haven't had a chance to figure out what they'll be looking at this year.

While getting audited is a bummer, if you report all your income and deduct all your legitimate expenses, then being audited shouldn't be that big of a deal.

Zip Code: 01801