Discussion in 'Professional Trading' started by qdz3se, Jul 28, 2005.
heard the news? what to do if audited? can one get away or get ripped off?
Depends on why you are getting audited and how much backup you have for your deductions and other claims.
keep all your things on a credit card bill
don't do crazy deductions
no reason to audit you as long as you are not out of line.
IRS usually audits CASH businesses, if your business is mainly through electronic places such as CCs/ etc.. They know you can't hide much.
Get a full bookkeeper, that'll keep your books in 100% order.
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