Through a study of IRS audits these factors has been determined to be top audit items.
The IRS is finding that business owners are deducting personal travel, meals and entertainment expenses as business deduction
IRS is also finding individual are duplicating interest expense deduction on both their itemized deductions and on their small business or farm deduction.
Employment expense greater than $50,000 is very suspicious.
IRS auditors have been instructed to conduct extensive comprehensive audits targeting:
Construction contractors. Specifically looking at
Results of Construction audit has been average additional tax due over $28,000.00
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