Have you ever thought about what could cause an IRS audit? In this episode of the Ask Ralph show, host Ralph Estep, Jr. addresses the anxiety-inducing topic of IRS audits. He starts by delving into a listener's question regarding audit concerns for small business owners. Ralph outlines the 8 most common IRS audit triggers, including unreported income, home office deductions, excessive business expenses, and round numbers, sharing real-life client stories to illustrate the risks involved. He offers practical advice and strategies to avoid triggering an audit, emphasizing honesty, accurate record-keeping, and promptly responding to IRS notices.
https://www.askralphpodcast.com/common-reasons-for-getting-audited/
00:00 Episode Overview
01:21 Listener's Question
03:26 Bible Verse
04:02 Top 8 Reasons for IRS Audits
17:38 Strategies to Avoid an IRS Audit
18:56 Conclusion
Prior Show (How do I prepare for an audit of my home office expenses?)
https://www.askralphpodcast.com/home-office-expenses/
Schedule Appointment with Saggio Management Group, Inc.
https://app.acuityscheduling.com/schedule/fabfb9f2/appointment/8258839/calendar/2141336?appointmentTypeIds[]=8258839
