10 Red Flags That Could See The IRS Audit You

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7. Schedule C

This one, no matter what you do, will be a red flag for the Internal Revenue Service. Schedule C is a form all self-employed people need to fill in.

This may draw attention mostly because they think that as a business owner you may want to hide assets or not declare your whole income.

In the form you will have to report the profit, the loses and the expenses. The IRS will check out your expenses so be very careful not to mix the ones made in personal benefit with those made for your professional interest.

Which is why they will audit you, but if you keep track of your expenses and  you don’t hide anything you should have no worries.

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