My wife at the time and I were audited back in early 2000's. Had to take boxes of documents downtown to IRS office in Richmond.Has anyone ever been audited by the IRS?
I am specifically wondering how picky they are with millage logs.
Also, a vast majority of my deductions are items with receipts that are easily retrievable (MLS, EO, license fees, software, portal upload fees etc). I am wondering if I am going to get hit with a "where is that receipt for those batteries, paper, ink cartridges' etc..."
Also, I was wondering how many miles you drive per year? I am sure it is a wide range with urban vs rural. I am a suburban/urban/sometimes rural guy. Lowest year has been 17k with the highest year around 30k.
Anyone have a deduction they think may not be obvious but is missed by appraisers? People always say "oh, you are self employed, you can deduct everything". I just LOL
Millage
Office supplies
Internet
MLS/eo/license/education
Take an agent or two out to lunch
What else is there?
you are usually shy.$248.53....
Always round to $249.00....
You don't have to make a lot of money...you just have to make a mistake. Many years ago starting out, I did my own and claimed depreciation on my business vehicle. Then I saw this part about mileage so I claimed mileage but forgot to take off the depreciation part. Wasn't making much at the time but the IRS sure wanted more. Trip downtown to the Fed building with box of stuff, learned a lesson, paid them about $1K more, +/-, started using a CPA ever since.You think too income highly of yourself worrying about the irs auditing you. Nobody here makes that much income for them to waste time, to get a couple thousand from you.
much easier if you drive high-maintenance cars is to declare annual maintenance expenses rather than mileage, at least according to my tax guy. [as an aside, I was surprised when my pal was advised following an IRS audit appeal that he was responsible for his tax returns, rather than the tax pro who he paid $$$$.] I personally never reviewed any of my 55 annual returns nor did I review the appraisal for any of the 5 or 6 homes I purchased earlier in my life, nor even knew or cared what an appraisal was...Has anyone ever been audited by the IRS?
I am specifically wondering how picky they are with millage logs.
Also, a vast majority of my deductions are items with receipts that are easily retrievable (MLS, EO, license fees, software, portal upload fees etc). I am wondering if I am going to get hit with a "where is that receipt for those batteries, paper, ink cartridges' etc..."
Also, I was wondering how many miles you drive per year? I am sure it is a wide range with urban vs rural. I am a suburban/urban/sometimes rural guy. Lowest year has been 17k with the highest year around 30k.
Anyone have a deduction they think may not be obvious but is missed by appraisers? People always say "oh, you are self employed, you can deduct everything". I just LOL
Millage
Office supplies
Internet
MLS/eo/license/education
Take an agent or two out to lunch
What else is there?