I previously used Turbo Tax, but have used a CPA the last 4 years. I am thinking of going back to doing my own taxes as they are relatively straightforward. One argument that the CPAs make is that they reduce audits compared to self-prepared tax returns and of course they can help in case of audit. I've heard variable numbers, such as 5% of high income returns are audited each year. But I actually don't know any doctors who have been audited (perhaps they keep it quiet).
So my question is: How many of you high earners have been audited?
I understand it is a possibility, I just don't have a feel for how much of a possibility. I'm not scared of an audit as my taxes are all on the up and up, but I do fear the hassle factor of going through it alone.
So my question is: How many of you high earners have been audited?
I understand it is a possibility, I just don't have a feel for how much of a possibility. I'm not scared of an audit as my taxes are all on the up and up, but I do fear the hassle factor of going through it alone.
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