14 IRS Audit Red Flags

06 Jul
  1. Making Too Much Money
  2. Failing to Report All Taxable Income
  3. Taking Large Charitable Deductions
  4. Claiming Day-Trading Losses on Schedule C
  5. Claiming Rental Losses (Real Estate Professional)
  6. Deducting Business Meals, Travel and Entertainment
  7. Claiming 100% Business Use of a Vehicle
  8. Writing Off a Loss for a Hobby Activity
  9. Claiming Home Office Deduction
  10. Taking an Alimony Deduction
  11. Running a Small Business
  12. Failing to Report a Foreign Bank Account
  13. Engaging in Currency Transactions
  14. Taking Higher than Average Deductions

*Sourced from Kiplinger