It's tax season again, and that means one thing: confusion. But before you stress over listing your Chia Pet as a dependent, keep in mind that, unless you're flat-out cheating on your taxes, the likelihood you'll get audited is pretty slim. Just don't run off to Namibia.
"The fact of the matter is, very few returns are audited -- fewer than one in 150," says Kiplinger Editorial Director Kevin McCormally. "And what gets the IRS's attention is if you put something on your return that paints a strange picture of you." I'm thinking, like, listing a hybrid vehicle credit for your Segway. But, really, this video explains it better:
AOL Money & Finance can help further, with this list of 10 Common Tax Mistakes to Avoid, like "don't forget to sign your name at the bottom of your return."
B. Brandon Barker is the author of the novel Operation EMU.
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Reader Comments (Page 1 of 1)
3-10-2007 @ 11:22AM
Barb said...
When you have a business it may not do well in the first two years even though you have to show a vehicle which is used completely and solely for the business. Called 3 phone numbers to ask questions from the IRS concerning this and received three different answers. Finally a professional tax advisor / tax account showed us the correct way to file which was different than answers received from the IRS. Were the taxes filed with answers from the IRS there would have been a tax audit.
3-26-2007 @ 2:33PM
gina890 said...
I want know had you claim your unclaimed money my is georgina crumpton live in detroit mich my adderss is 8550 wyoming apt 104 I have my trace number 5581677,5631007,8954178
3-27-2007 @ 9:45PM
shell said...
gina891 Do you speak English? Just curious but what city are you from?
3-27-2007 @ 9:48PM
shell said...
Detroit explains it
3-30-2007 @ 5:06AM
Jesey Danny said...
Hey, Shell - re: gina891; am so glad you are such a superior being, 6pointed star and all. Wonder what kind of shell you are, sounds like maybe a CRAB????
3-28-2007 @ 10:26AM
Jersey Danny said...
Hey, Shell; re: gina891, Ya know what we do with CRAB shells in Jersey? We grind 'em up and use them for filtration in the sewage plants. I'm sure you'll fit in fine with the rest of the CRABS!!!
C'mon down, bud. Jersey Danny.
3-28-2007 @ 10:32AM
Jesey Danny said...
Hey, gina891 - not a good idea to out your address on the web. Not like that fool "crab" going to head to Detroit. Don't think there's enough backbone, just set and hide behind a computer an' make fun of folks. Good luck with your tax issues. Try to find a good CPA, they can help you with stuff.
Jersey Danny
3-28-2007 @ 10:36AM
Jesey Danny said...
Barb 11:22 03/10/07 - Find a CPA, they can help with small businesses. And incorporate as an 'S' Corporation. It has a lot of benefits, like getting into a small business health insurance pool group. But watch out for "crabs" in the pool!!
Jersey Danny
4-15-2007 @ 10:54AM
Wendy said...
www.turbotax.com is the best way to do your taxes. There are no math problems to worry about and they go through everything step by step, a first grader could do it. I have used them for 4 years and never had any problems.
NEVER put your address anywhere in blogs etc. on the internet. There are tooooo many preditors out there that may try to come and get you. Call the IRS and ask them about your unclaimed money hun.
I hope this has helped someone out there.
4-15-2007 @ 11:41AM
mm said...
Shell is right, if you can't spell or write, go back to school. Don't respond to these posts until you have a clue!
4-17-2007 @ 12:37PM
MIKE said...
Shell, would like to see your college sheepskin, mine is from the University of Michigam 1955.
Although was not born in this country I'll bet I have better comand of the english language than you.
4-17-2007 @ 12:39PM
MIKE said...
Shell,re Gina890: Not all of us had the luck of education so not fair to critize those who did not.
She wrote asking for help with a problem not to be evaluated for her diction.If you can help do so or shut up. Gina, you do not need a CPA and his high pricess, any tax preparer can help either free or at very low cost. I am one of those and have been providing such services and all necessary papepwork for 40 years and been very succesful. I still prepare many tax returns free to low income and deserving people.
4-17-2007 @ 10:43PM
Stan Burns said...
Better stick with the CPA. My best friend and I have identical Photography businesses. We had the same gross and identical expenses. With one exception. He claimed office in home. He used a low cost tax preparer for $50.
My CPA advised against office in home. I paid him $250. My tax lability was $6000, his was $22,000. He got audited. I didn't.
4-18-2007 @ 4:33AM
donald said...
We may have failed Gina. Based on the question, there are two possible directions:
1) she was asking about how to claim a federal tax refund (everyone here made that assumption)
2) she was referring to unclaimed property in the sense of States maintaining lists of unclaimed/lost property. Either contact your local newspaper to find out when they will be publishing the annual State lost property listing, or contact the State for the unclaimed property department.
In these case that 1) is the direction she was aiming for, I ditto everyone else.
4-18-2007 @ 7:54AM
Sheldon L said...
Brandon,
Very daring title;
"Money Shots: Why you definitely won't get audited"
Now the might get YOU audited.