Red Flags That Can Trigger An Audit

There are many red flags that can lead to an IRS audit; we are going to tell you a few key triggers to watch out for! An obvious red flag that will cause an audit is using round numbers to report your business expenses. There are several other triggers such as overstating deductions, reporting excessive home office deductions, and many more including failure to file tax returns for multiple years. Have you prepared your business to be IRS audit proof? Make sure to follow us at XQ CPA to find out more on how to minimize the chances of an audit and feel free to contact us for assistance! #Taxes #IRS #Audit #CPA #Business