EP 19: IRS Audits: Who’s Really Targeted and How to Protect Yourself

Common Sense Millionaire

Ready to bust some myths about who gets audited the most?
Spoiler alert: it's not your wealthy neighbor!
In this episode of Common Sense Millionaire, I reveal the harsh truth about IRS practices and how they disproportionately impact African-Americans, particularly those with lower-income brackets who are business owners.
This episode dives deep into the world of audits, giving away the mystery around increasing electronic resources at the IRS's disposal and how even the rich are not out of the auditor's scope! I'm also going to shed light on the financial challenges black Americans face when dealing with taxes. If you've ever thought about fudging the numbers or incorrectly declaring dependents - don't! The IRS has some hefty penalties for those who stray from the straight and narrow.
I'm here to help you understand how to accurately document your income and file the correct forms to avoid these fines. Plus, I'll guide you on how to properly record your deductions, especially when legal custody is shared with an ex-spouse.
Whatever your situation is, I've got you covered with practical advice to stay in compliance with the IRS.
You don't want to miss this!

Thank you for listening to The Millionaire Mindset Podcast with George Dines.
To connect with George visit www.georgedines.com
To Schedule a call with George visit: https://georgedines.com/contact/

Chapters

1. EP 19: IRS Audits: Who’s Really Targeted and How to Protect Yourself (00:00:00)

2. Who Gets Audited? (00:00:02)

3. Challenges Facing African-Americans in Taxes (00:07:55)

4. Sharing Legal Custody and Tax Deductions (00:14:25)