Thread: Money 2024 Tax Season Thread
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Old 03-05-2024, 04:19 PM   #64
Ming the Merciless Ming the Merciless is offline
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Quote:
Originally Posted by DaFace View Post
But regardless, it's weird how much of all of this is essentially done on the honor system (with the obvious caveat that they can come after you hard if you intentionally claim stuff you're not eligible for).

It really does make you wonder. The AI involved in detecting cheaters must be pretty cool. I was talking to someone the other day and they were telling me about some of the red flags that can trigger an audit (owner draw as X percent instead of paying yourself a higher salary, like for an LLC)


and some of the lines were pretty arbitrary....


If I ever get audited , theyre gonna owe me money and it will be a huge waste of their time. I like to err on the side of caution , a la a Marty Shottenheimer tax strategy
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