08-24-2022, 01:38 PM
(08-24-2022, 01:31 PM)Mickeypoo Wrote: Tell that to my good friend who got audited a few years ago because of the way he did his deductions on his small side business. He was making around 50-60k at the time at his full time job and his side business was making around 10k a year.
The audit almost bankrupted his family. It was awful to watch. The worst part was he was not deliberately trying to evade taxes. He was just doing it wrong and never realized and over 5+ years it added up.
The rich have accountants and lawyers. People like my friend just get destroyed.
Filing a business return will always garner more attention; that's a known quantity. It's unfortunate that it happened to him, but I tell everyone that if you are doing anything beyond the basic return it is good to speak with a pro. It is always worth the money.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
