The author of ,Tax This: Standing Up Against The IRS, Scott Estill provides CNN with a few tips that will help prevent you from being audited by the IRS.   Some best practices that will best help you when preparing your taxes are:

  • Understand your tax laws. Whether your are filing taxes for business or personal, make sure that you read the laws carefully.
  • Keep accurate receipts for every expense you claim.
  • Do not fight the IRS on your own.  Secure legal aid.

In addition to these helpful tips, stray away from these potential red flags:

  • Inaccurate W-2’s.
  • Inconsistent rental/mortgage statements.
  • Off-shore banking accounts.  This is one area that the IRS is currently focusing on!

 

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About The Author

Ms. Bels
Publisher/Editor-In-Chief
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Ms. Bels is unlike any other female publisher in the game. A true go-getter that bridges her Westside ATL upbringing with corporate swag. The savviness of this only-child has afforded her a successful 15+ year career in business management, budget analysis and accounting; Stacks Entertainment LLC was her first entrepreneurial baby. Stacks Publishing Group LLC (SPG) is her second and, prayerfully, becomes the gateway to an extraordinary life. Always on-the-go, Bels finds time for a mixture of mischief and positivity. Traveling across the globe, shopping, writing, and giving back to the community are a few things she enjoy. Oh and she loves to laugh.