With IRS audit rates declining, now’s the time to be more aggressive in taking every legal tax deduction. Through proper planning, you can convert everyday non-deductible personal living expenses into legitimate practice tax deductions. Below are our top strategies to slash your taxes using this technique.
Years of steep budget cuts have hit the IRS hard, resulting in a loss of nearly one-third of its enforcement (audit) staff since 2010. This has resulted in a decline in business and individual tax audits for six straight years, with current audit rates at the lowest level since 2002. Given this lower audit risk, you should be...
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