Founding Tax Partner Chris Smith’s Thoughts on IRS Audit Triggers

We are excited to share that Financial Planning featured Brandywine Oak Private Tax Advisory’s founding tax partner Chris Smith in their most recent article on IRS audits and the three triggers for affluent clients. The three triggers include pandemic business relief from the Small Business Administration’s Paycheck Protection Loans, claiming a home office deduction, and large increases in income. While no one wants to face an IRS audit, the good news is that only 0.1%-0.2% of people who earn between $100,000 and $1,000,000 are audited. Having a tax professional in your corner during this time is critically important.

At Brandywine Oak, we guide our clients by providing extensive tax planning to help them navigate each year’s tax season with confidence. To learn more, please read https://lnkd.in/g4umtVPT.