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An IRS audit can feel intimidating, but most audits are not random. In many cases, returns are selected because something in the filing raises a red flag or falls outside normal patterns. Understanding what commonly triggers an audit can help business owners and professionals reduce risk and stay prepared. Below are some of the most common factors that may increase the likelihood of an IRS audit. 1. Reporting Income That Doesn’t Match IRS Records The IRS receives income infor

Quarterly taxes are one of the most commonly misunderstood parts of the tax system—especially for business owners and self-employed professionals. Missing payments or underpaying throughout the year can lead to penalties, interest, and unnecessary stress. Understanding how quarterly taxes work helps you stay compliant, manage cash flow, and avoid surprises at tax time. What Are Quarterly Taxes? Quarterly taxes are estimated tax payments made throughout the year to cover incom

Tax planning is often misunderstood. Many people assume it simply means filing a tax return correctly or finding last-minute deductions. In reality, effective tax planning is a year-round process focused on reducing risk, improving cash flow, and making informed financial decisions before deadlines arrive. Understanding how tax planning really works can help business owners and professionals avoid surprises and gain greater control over their finances. Tax Planning vs. Tax Pr