Although your chances of being audited are low, just like playing the lotto, odds are you could actually win.

But then again, few people do win.

Predicting if or when you could get audited is pretty much impossible.

However, there are certain red flags as they call them that could trigger an audit and knowing them might help

So, in this video, we’ll discuss what some of those red flags could be and more importantly, we’ll discuss what you could possibly do to avoid these red flags.

Chapters
00:00 Introduction
00:38 What Triggers an Audit
01:13 3 Ways Audits are Conducted
02:05 Failure to Report Income
03:28 Hobby Losses
04:40 Business use of Car
05:35 Having a Large Income
06:22 Overstating Deductions
07:30 Gambling Wins and Losses
08:37 Investment Activities Tax Consequences
10:11 Cash Transactions
10:44 Payroll Issues
11:05 How to Prevent an Audit

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