Law Offices of Connie Yi, PC
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at (925) 484-0888 or email us directly at [email protected] to schedule the consultation.

View Our Practice Areas

Know the facts about tax audits

This time of year, tax audits are on everyone’s minds as we rush to compile financial paperwork and sit down for the task of completing our annual income tax returns. The ominous threat of the tax audit lurks in the background, waiting to jump out like a boogeyman if we make a mistake or miscalculate our tax liability. One of the reasons why so many people are nervous about a tax audit is because we have some ideas in our minds that might not be totally true, urban tax audit legends, if you will.

Clearing up some of those scary stories can help take away some of the trepidation that we feel by adding some degree of certainty about what our possible audit risks are.

For example, some people believe that filing with a lot of different deductions and credits can trigger suspicion and lead to an audit. This is not true. Tax credits and deductions are meant to be taken and are there to ease the tax burden on people and families who are doing something that the government wants to incentivize, like owning a home. Taking the tax credit is your legal right and there is no penalty for taking a credit that you truly qualify for. The key to taking a deduction with confidence is making sure you qualify and having the proper documentation to support the deduction, such as receipts for a business expense. Questions about audit risk or what to do when an audit notice arrives in the mail can be directed towards qualified tax law professionals.

Source: Yahoo Finance, “Five common myths about the dreaded tax audit,” Mandi Woodruff, Feb. 3, 2014.

No Comments

Leave a comment
Comment Information

Contact Us

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Email Us For A Response

Office Locations

Law Offices of Connie Yi, PC
323 Ray Street
Pleasanton, CA 94566

Phone: 925-484-0888
Pleasanton Law Office Map

19925 Stevens Creek Blvd
Suite 100
Cupertino, CA 95014

Toll Free: 888-312-6978
Map & Directions

San Francisco
490 Post Street, Suite 508
San Francisco, CA 94102

Toll Free: 888-312-6978
Phone: 415-433-3350
Map & Directions