Today, Host Joe Cucchiara is joined by CPA Tom Wheelwright as he explains why no one should be afraid of an IRS audit. At the top of today’s show Tom will stress the importance of managing your investments and working with the right people come tax time. He then explains how early tax preparation reduces your chance of being audited; and if being audited once puts you on the IRS’s watch list. Tom also shares his personal rules for handling an audit without the stress.
Tom responds to a call from Louis in Danville who has received mixed answers about long term capital gains on his investment property. He also answers a real estate agents question about protecting themselves from audits when they often entertain and buy gifts for clients.
Be sure to text in with your questions during the show at 408.838.9060 between 3-4pm PST on AM 1220 KDOW. To learn more about all our hosts and how to contact them, simply visit www.reradiolive.com.