16 Aug
2011
16 Aug
'11
2 p.m.
Actually, some IRS agents consider home businesses and
small sole
proprietorships to be "low hanging fruit". ?They OFTEN audit home
businesses,
This is true ONLY for those home business that are greedy - trying to
deduct too much, for example. Living beyond the means of the business
income is another. Or too many cash or check deposits at the bank.
As long as you have half a brain, and not try to cheat too much - no
audits. Simple.
And those "low hanging fruit" are those hobby businesses that are
pulling in $50K plus...
--
Will, son of a CPA