LINKEDINCOMMENTMORE

It is tax season, and if you haven't filed your return yet, there are some steps you can take to help avoid a letter or even a visit from the IRS.

Kevin Myeroff with NCA Financial says overall, only 1% of taxpayers will be audited each year, and offers some advice to help avoid an audit.

Report all of your income: This mostly applies to money that isn't already being reported to the IRS. This includes things like money that is won at a casino,

Don't exaggerate on charitable deductions: This applies to donations of items. For example, if you bought a TV ten years ago for $1,000 that can be replaced for $150 dollars today, you can't deduct the $1,000. You an only deduct what the thrift shop would sell it for today.

Watch what you tweet: If you are audited, the IRS will check your Facebook, Twitter and any other social media accounts you have.

Don't include personal expenses in your business: The IRS is very detailed when it comes to back checking your reported business expenses.

Don't try to write off a hobby: Businesses are meant to make money. If, over time, the IRS notices lost income on something you report as a business expense, it will raise red flags. If you continuously report losses, they will view this as a hobby.

Use tax software to prepare your tax return: The biggest mistakes people make when filing taxes are math related. Using diagnostic software that calculates the numbers for you can help you avoid errors.

LINKEDINCOMMENTMORE
Read or Share this story: http://on.wkyc.com/1hYwr9j