Ahead of the IRS issuing its annual “Dirty Dozen” list of the most egregious tax schemes and scams (here’s the 2008 list), accounting firm BDO Seidman has kindly prepared a primer for small business owners on audit red flags.
Small business owners are about three times more likely to be audited, all the more reason to doublecheck returns and keep good records, according to BDO. The firm says to keep the following in mind:
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