Red Flags That May Trigger an IRS Audit of Your Business
You should try and do everything you can, as a business owner, to prevent an IRS audit of your business from happening. There are certain red flags to avoid - that may trigger such an event. Our accounting firms at the Lake of the Ozarks are here to help you by naming a few. If you are interested in having someone check over your business and give you constructive solutions, call the Wilson Toellner CPA firm nearest you. We have four conveniently located firms and the phone numbers for each are all located at the bottom of this blog. Red Flags That May Trigger an IRS Audit of Your Business Abnormal High Salaries Unfortunately, there are people who will try to get away with paying themselves too much. For example, a business owner, making up a "fake employee" and claiming that "fake employee's" paycheck. Something like this could absolutely trigger an IRS audit. Also, according to Kiplinger , IRS statistics for 2016 show that people with a yearly inco...