5 IRS Audit Techniques to avoid having unreported income

This is an expert of this article:

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/CPA/Sep/IRSFines.jsp

This is NOT Related to QuickBooks or Excel, and very rarely I post a taxes related article, but these are simply laid out; and it is usefull to know:

1. Financial status analysis: looking at the cost of living expenses vs. reported income
2. Bank deposit analysis: looking at all bank seposits and also inconsistencies on deposits.
3. Website and e-commerce analysis: revising income from digital sources
4. Reconciling revenue reported on specific information statements: Revising that W-2’s and 1099’s match
5. Ratio analysis: comparing Business and Industry statistics to see items out of “norm”

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