Don’t Fall for These 12 Common Tax Myths

MYTH: CLAIMING A HOME OFFICE IS AN AUTOMATIC AUDIT

Nope. There is no such thing as an automatic audit. There’s no way to game the system to avoid one, either. Fraudulently claiming a home office, very high self-employment income, or taking more business deductions than income from self-employment are red flags, though.

And there are a few scenarios that might trigger an audit: major changes in income or charitable giving, missing forms or files or numbers that don’t add up, claiming business expenses for a hobby, and having an overseas bank account or foreign assets. The best way to avoid an audit is to be careful and honest about deductions.

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