How to Work from Home Without Running Afoul of the IRS

  |   31 October, 2014   |   993   |   3980

For entrepreneurs and work-from-home types, the IRS can sometimes seem like the bogeyman. It is the comic-book arch villain that has endless resources to hunt down all its enemies, methodically and mercilessly grinding them underfoot, one insignificant dream at a time. No matter how small and underfunded your small business is, you feel as if the IRS has a person, nay, a team, a crack-team of experts combing through your every transaction, just waiting for you to give them a reason to pounce. The bad news is that they do have the resources to make this true, but the good news is that even the bogeyman has rules, and can’t just go chomping through the suburbs, mindlessly eating every villager it happens to encounter. Those rules are there to protect you from your greatest fears–the much feared, five letter word, Audit. It is funny how audit feels a lot like Inquisition. You would be slightly better off if you just confess to something. But if you have everything in order, you can survive an audit. Better yet, you can avoid one altogether if you use BEST practices from the start.