17 min
Season 3 Episode 15: Lower Your Audit Risk with Pete Schindele Real Estate Nerds
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- Investimenti
Filing taxes is clearly more complicated for independent contractors, entrepreneurs and investors. Entity structure, tax savings strategies, and deductions are areas that are maximized to lower tax debt. For this reason, you may have a higher audit risk than your average W2 employee. Listen as Pete Schindele, Royal Legal Solutions CFO gives a run down of filing actions that are more likely to trigger IRS inquiry.
This is not to say that you should not take advantage of all deductions that you qualify for. Most importantly, keep thorough records in the event you are flagged for an audit.
Filing taxes is clearly more complicated for independent contractors, entrepreneurs and investors. Entity structure, tax savings strategies, and deductions are areas that are maximized to lower tax debt. For this reason, you may have a higher audit risk than your average W2 employee. Listen as Pete Schindele, Royal Legal Solutions CFO gives a run down of filing actions that are more likely to trigger IRS inquiry.
This is not to say that you should not take advantage of all deductions that you qualify for. Most importantly, keep thorough records in the event you are flagged for an audit.
17 min