How to Avoid an IRS Audit (how to fly under the radar)

[@clearvaluetax9382]

You can sign-up for a stock account here and receive a FREE STOCK as a sign-up bonus: robinhood.c3me6x.net/2nRjO Join our Exclusive Stock and Crypto Content on Patreon: www.patreon.com/ClearValueInvesting Investing Mistakes to Avoid: kzbin.info/www/bejne/m3fJZIyhZqdkjKc Investing Tips for Beginners: kzbin.info/www/bejne/gZq9qH6aibyaZ5o Understanding Stocks and Investing: kzbin.info/www/bejne/sKbSgKyoq8xlY6s Taxes on Stocks Explained: kzbin.info/www/bejne/e3y8fpWpn7qIqqc Common Stock Terms: kzbin.info/www/bejne/rKSxZYqCmauXetE Dividend Stocks Explained: kzbin.info/www/bejne/oZvIoKaQqqhqi9k How to Bet Against Stocks: kzbin.info/www/bejne/pmGppXVmg79_Y68 How to Use Call Options To Make You Passive Income: kzbin.info/www/bejne/npOvoWlpdrSWm9E

[@vanessacuocsongmy]

Look you a litle bit different jjjj

[@larrykramer2761]

I hate people that cheat on their taxes! It ruins it for the rest of us like me and my 23 dependents.

[@clearvaluetax9382]

L O L thanks for that Larry.

[@rudysalas9138]

2 to 3 dependents right?

[@darylallen2485]

@@rudysalas9138 r/woosh!

[@rudysalas9138]

@@darylallen2485 cant show sarcasm thru a comment sorry. r/woosh!

[@rudysalas9138]

@Billy Ray Valentine we get taxed on the money we earned. Then we get taxed on the money that we spend on necessities. Double taxation at best. I dont really consider it theft as we do use the money to pay people to maintain our parks, public resources such as police and firefighters, National security etc. I learned this when i have visited third world countries. I get upset when people abuse for example the welfare system.

[@ropersix]

When the IRS audits someone, they expect to get more money from that person. If you don't have much money to give them, they don't care about you. Sort of how dating works.

[@clearvaluetax9382]

LOL.

[@Walklikelions]

Facts.

[@NicolasGanea]

well said!

[@al821]

That’s why hookers are a better option

[@wzt945]

True

[@alexanderconti521]

Fun fact: if this video is in your watch history your chances of being audited rises by 5 percent.

[@lullemans72]

but i'm not even a US citizen. i'm from europe!

[@mrceresa1]

😂

[@AntGilroy]

@@lullemans72 it doesn’t matter, you just made the list. Good luck.

[@viralshark]

but i clicked by mistake, then my fingers slipped and typed this comment

[@wompwomp7177]

Lmaoo

[@RG-hf4et]

Lucky me, I got audited about 15 years ago. My income was about around $95-110k, self employed small office, one employee besides myself. Income generated by the business was about $225-250k. I am in a business with known for very high overhead. This IRS agent hounded me for a YEAR. The only thing they got me on was some credit card purchases that I didn't have receipts for or couldn't prove so they included that as personal income. Once they started looking at one return, they went to the previous one to compare things so they really audited 2 years. My life was hell. The government paid this agent to keep coming after me for an entire year. I can't make this crap up. Six months after this IRS agent dragged me through the mud, he died of an stroke. Karma.

[@matthewgarber5517]

I know someone who makes a lot and was audited 3 times. Each time the IRS found that they owed them money and had to give money back

[@clearvaluetax9382]

Nice! That's awesome and hilarious when that happens.

[@michaelsmith4904]

That's why I like to leave a little bit on the table every year...

[@katrinamillings3651]

That happened to me, lol. I didn't claim all my losses on some stock trades so I overpaid.

[@jakes-dev1337]

@@michaelsmith4904 risky play

[@carolebaskin9641]

I like how the government steals your money and also makes you handle all the paperwork.

[@clearvaluetax9382]

L O L... that's a good way to put it. Thanks for chiming in fadfad fadfadf, I appreciate it!

[@jcman240]

Then find somewhere else to live. Think of taxes as rent to live in the greatest country in the world.

[@matthewcoffey2672]

@@jcman240 A lot of people who have the money do. They have even had to make laws in places like thailand and bali that restrict how many americans can be property owners because they were being bought out with none left for locals that means A LOT of poeple are doing exactly that and leaving for a b etter place so how is the US the greatest?

[@rv3089]

fadfad fadfadf I actually don’t like that at all 🤔

[@carolebaskin9641]

@@jcman240 Good thing the founding fathers didn't share your pathetic defeatist attitude and decide to "find somewhere else to live" when they were being taxed unfairly.

[@joeventura1]

Why this is a great video: Informative, well spoken and no edits! KZbinrs, it's ok to have a conversation with the camera and if you say something wrong you don't have to edit it out. This video is an example of how to do a good video that isn't filled with edits every time the speaker pauses or maybe makes a mistake. GREAT WORK!!!

[@clearvaluetax9382]

Thank you Video News, I appreciate your feedback! Thanks for watching and for your support!

[@theengineered1949]

I trust the intelligence and the knowledge of this professional looking Asian man...

[@clearvaluetax9382]

Wise decision Mahamadou.

[@habibmkhan]

Favorite comment today for some reason.

[@liamconnelly3614]

Honestly this was my first thought. Kudos on excellent presentation

[@khalilali2450]

AMERICAN MAN!!!

[@thatssomefinexxx7995]

Ahahahahahaha , 10/10

[@jeremiahfuertes5960]

Chances are probably higher now that I've watched this.

[@kjsciacca]

And even higher because you commented lol

[@eliubfj]

@@kjsciacca I was skeptical to comment, But oh well, We've all increased the odds lol

[@jay-d8g3v]

yeeeeaaaaaah probably.. oh well

[@Webbygears]

From .5% to a whopping .6%

[@owenjaeckle8542]

Remove the space in “The IRS” and it becomes “Theirs”. Hmmm

[@clearvaluetax9382]

LOL Own, good one!!

[@KingEaglez29]

Owen Jaeckle fbi wants to know your location

[@yorkshire3939]

Deep

[@Heyalexiaa]

Stay woke 😂

[@heatherschmale7022]

Nice😂😂

[@mhc_isme]

With my income I basically have a 0% chance of being audited.

[@clearvaluetax9382]

The IRS likes wasting peoples' time Max...

[@saito4991]

Yea, it's like a situation happened in Germany a few years ago where a homeless person was arrested for working without a "Gewerbe Anmeldung" , it's like a business registration.

[@milkncookie]

That's one way to tell the world you're unemployed. :D!

[@angelgjr1999]

I make less than 30k a year. No way I’d be audited.

[@broken1965]

Get a job yo lol

[@TheRussellStover]

LOL... honestly. I'm not sure why I'm here. I hate the IRS and Taxes in general but I watched the video because it was recommended.

[@clearvaluetax9382]

Thanks Eric for watching and for your support, I appreciate it! It was probably recommended because KZbin knows that you hate the IRS and Taxes in general.

[@knowledgeispower3212]

@@clearvaluetax9382 lol stfu . You're right . But this was in my recommendation too

[@TimeGallon]

Nice cover up

[@andrub23]

Revocation of Election...It's a real thing...

[@swiftyfromthe3138]

@@andrub23 Good luck with that.

[@marknussbaum8394]

This guy ties a perfect knot in his tie. Work of art

[@clearvaluetax9382]

Hi Mark, double windsor... only way I do them.

[@SHx589]

ClearValue Tax as a military man, I appreciate your attention to detail.

[@loveoneanotherasihaveloved8327]

I Asked him about it, he said it’s a clip on

[@CruceEntertainment]

That increases his audit risk.

[@michaela.754]

Looks like a double windsor. Symmetrical

[@kajuta240]

I was audited once, it took them 9 months and I ended up with a check for a bit over $350 more than I was originally going to get. I haven't been audited since.

[@tidus9942]

That can easily happen if you one of those people who have a business but rather than keeping track of every complete expense just put conservative amounts on the schedule C knowing full well you could claim more but dont want to put the work in. Once audited, you take the time to find every single thing you could claim and it will cost them more than they would ever get back.

[@mikki7522]

They probably spent tens of thousands of dollars for that LOL

[@asonofliberty3662]

@@mikki7522 we*

[@bondpit8750]

I was selected for a ‘random’ audit back in the early 80’s. I was in sales and my income was mid-high 20’s at the time. I itemized my return. A small math error was found in favor of the IRS, less than $20.00, which they waived. The examiner asked if I had the same kind of detailed records for the 2 tax years prior and set me up for another audit of those years, which was performed by the same examiner. The end result was no change to my tax obligation but what a waste of time, for them and for me.

[@clearvaluetax9382]

Bondpit, sorry to hear of that fiasco. Yup, they're really talented at wasting peoples' time and taxpayers' money. Kind of frustrating, but what can we do?

[@TheMasterhomaster]

Yes but for every one of you there are cases where they find tax cheats.

[@chrismoore1372]

@@clearvaluetax9382 revolt?

[@ItsMeeJon]

If you make millions as a politician then your chance of being audited is 0.0%

[@MrKhurramshahzaeb]

Very good video. Very comprehensive tax advice. The fact that this information is made available for free is phenomenal. He gives better advice than most accountants that you have to pay for.

[@clearvaluetax9382]

Thank you Khurram for the feedback and kind words. It makes me feel like I'm actually helping people! I appreciate it!

[@protonneutron9046]

When I was young I got audited. They asked for all my receipts, etc. I gave them a box just stuffed full to the brim as I had literally just dumped what I had. A total mess with nothing in any order. Income, payments, receipts. A month later they gave it back to me all neat and categorized with a check for $500.00

[@vn01208503]

gotta hat off for them on that

[@protonneutron9046]

@@vn01208503 indeed! But the law doesn't require records be in any order or system.

[@vn01208503]

@@protonneutron9046 yea they dont, just auditors love to file in system. they are organizing freaks.

[@tealatata]

😂 awesome

[@OlovMetal]

As a small business owner ( 1 person ) I got audited twice, and both times I forgot to put in a W9, ended up paying something like 75 bucks extra for one year and 100 bucks for the other year. And to hear they declare it a big loss that it happens make me smile.

[@thex2thaz]

Our taxes pay for them and they'll just raise taxes, so it's a lose lose.

[@the_jzapata]

@@thex2thaz Dang it!

[@christiangutti7614]

Never thought that learning about taxes would be fun and interesting! Thank you sir.

[@tkim6790]

This video is gonna get audited...

[@clearvaluetax9382]

ugggghhhhh.... don't jinx me Tim... wtf.

[@futuradrama]

😁😂🤣

[@AccordionJoe1]

If audited, give power of attorney to an accountant and send him or her. That way if the IRS asks a tough question, your stand-in can say he or she will have to ask you about it. That gives you time to come up with a good answer. And if you declare travel expenses, remember you do not need a receipt for any expenditure of $25 or less when you make entries into your travel log,

[@clearvaluetax9382]

Hi Joseph Van, yes, that's good advice. It kind of frustrates the auditors too.

[@davecaron4924]

After the GME MOASS these kinda videos will be invaluable. 💎👐

[@stoicgradstudent3976]

Shhhhhh

[@Chaotclink]

lol once the IRS said I made 600k in 2012 and i owed 300k in back taxes. i was 17 in 2012 and it took me 3 years to clear it all up.. the IRS is a joke

[@clearvaluetax9382]

I'm glad you got that cleared up Chaotic Link, what a mess!

[@busyboysonedollarcircus6601]

Good money for a 17 yr old congrats

[@DK-gl3ih]

How did u get that money?

[@drexxler138]

Lol! I have seen this situation so many times.

[@crispycroissants2157]

@@busyboysonedollarcircus6601 He probably wasn't making 600k, that was the mistake

[@davethefish7653]

This looks like a set from Brazzers. I keep waiting.. and waiting..

[@clearvaluetax9382]

L O L Logan, you are hilarious. You're going to have to keep waiting.

[@illRalph]

ClearValue Tax how long

[@obladi2375]

That's hilarious

[@neilbradley]

It's the "audit me" casting couch series. "Oh baby, charge me penalties with compound interest!" "Hurt me with a W2C!" "Whip me with your 1099-MISC!" "Tell me I can't use the short form!" "Is that a schedule K1 in your pants or are you just happy to see me?" ;-)

[@theblacklebowski9878]

💀💀💀💀💀💀💀💀💀💀

[@ScottClevelandmi]

If you make $10 million and you don’t know how to hide the income… You’re going to get audited😂😂😂😂

[@clearvaluetax9382]

LOL, true story Scott.

[@Chris-oz5md]

Fr lol

[@whatthez3069]

Its more like you have to pay a big load of taxes.

[@jeremyhanna3852]

Start a bs 501 3c and start hiding money in there is a good place to start then start a trucking company hide money there also

[@cbrdurox]

didn't even watched the video yet but subscribed right away. great tie knot very professional looking and I like that you replied to most comments

[@clearvaluetax9382]

Thanks for the sub cbrdurox! I appreciate that support and yes, it's a double-windsor =)

[@Jjunior130]

3:44 What will increase audit risk? 3:50 Having a Schedule C. 4:30 Having losses in general, depending on the size of the loss. 5:53 Having certain expenses or certain deductions that are relatively high in comparison to your income. 7:33 Not reporting your 1099 income(s).

[@sirnicholas6626]

Just wanted to say you are very well spoken, clean and easy to follow and understand don’t blabber on about a topic diluting the information. Looking forward to watching some of your other videos.p

[@clearvaluetax9382]

Thank you Nicholas for the feedback and kind words. I really appreciate comments like yours and it makes me feel like I'm actually helping out! It's very motivating, so thank you! That was very kind of you.

[@HighDiver5555]

I was always worried about getting a letter in the mail after doing my taxes but now I realize I'm totally fine haha

[@deadpresident78]

I went from making 36k a year to 160k a year back in 09' I was audited. It gets triggered when they see you on the rise.

[@juice6521]

You don't think someone quadrupling their salary within a year is suspicious?

[@avenuempire]

@@juice6521 no. Not these days at least.

[@mikeg1032]

@@juice6521 no. Not really

[@DoctorWhoNow01]

@@juice6521 ik wym but say he was getting a masters in something and got a good job after it, it's possible. Going from a minimum wage job to a real career can cause a big jump

[@oscarrlee18]

@@juice6521 not if they told the G

[@renee9279]

Thank you! I have always wondered about this. As I am a bookkeeper and not a tax accountant, I have been asked this question -- my answer - "I don't know, please ask your CPA" Now I can direct them to this video :)

[@clearvaluetax9382]

Awesome! Thank you for your support Renee, I appreciate it!

[@kristichu8395]

Not every CPA knows ab taxes but tax expert only like Brain.

[@delroque7096]

Excellent Video! Very informative! I appreciate it!😊

[@barackobama9958]

This guy makes me feel all is well with the world

[@richardbrown5670]

Your picture looks bad 🤣😂

[@BeastnHarlotDFO]

Ill bet salesmen really like you.

[@csugabo85]

Haven't done my taxes I'm too turnt up

[@clearvaluetax9382]

Best to get them done son

[@VicDamoneJr82]

Shout out to drake

[@Krumpy]

way over his head haha

[@XploreAz]

@@Krumpy I doubt it is way over his head. He's just an intelligent man who speaks English, and not Ebonics.

[@delarosae]

Virgil got a Patek on my wrist going nuts

[@efrainrosso6557]

The more you make, the more they take. Big money equals big audit.

[@clearvaluetax9382]

More money more problems Efrain!

[@monicadeana4586]

My husband just had $485 taken out of his check this week 🤦‍♀️

[@MaxDamewood]

I just got selected for a “random compliance audit” through the IRS’s National Research Project... wish I had that kinda luck with roulette. 🙃

[@krazykrush]

Wow, this guy does it all. Fights zombies, tends his farm, and is a tax expert!

[@lysan4878]

We were randomly selected for an audit about 10 years ago. My husband had only 1 employer, made about 60,000 and we have 3 kids. We didn’t even itemize, so needless to say we were fine.

[@Lanatus]

Nice to know being poor as f has its benefits.

[@clearvaluetax9382]

LOL, thanks for that comment Lan C.

[@yugihlh]

Lan C mo money mo problems

[@ZanesFacebook]

Sure does. 0% capital gains tax and 50% savers credit FTW. Using those two wonderful gifts I make about $55k a year and pay $0 tax. If I never get a raise and tax law doesn't change for 40 years I won't ever pay a dollar in tax. Not even on my Roth conversions when I retire. Tax code is very generous to low/middle income. The trick is finding a place where you can live cheaply enough to save 50% of your income and actually take advantage of it. Bit of a catch 22, but if you can make it work it's quite the benefit.

[@Xeonise]

Can't have your shit stolen if you don't have shit.

[@user-sn5kj1gy1t]

This man is so damn well spoken I agree to what ever he says

[@clearvaluetax9382]

LOL, thanks so much... hey, what's your name? Is it that dot? Nice!

[@user-sn5kj1gy1t]

ClearValue Tax the name on this account is blanked out for privacy reasons and it cannot be replicated, you also have the dot ;)

[@jpochervina6795]

My dad used to say, "If I have to pay a ton of taxes, and if I am under the constant shadow of being audited-- every year, only then will I be where everyone hopes to be with their career."

[@laurenzenk369]

This is so interesting! I work at a low-income taxpayer clinic helping low-income clients with very large tax debt. While it makes sense that the IRS would rather go after wealthy taxpayers and businesses, the wealthy can afford lawyers to combat the IRS. Many of my clients have $200k(+) in federal tax debt. Please don’t think you won’t be audited if you don’t make over $500k! Great video, I just don’t want viewers to get the wrong idea.

[@ericyister]

very logical & clear video on IRS Audit. Glad to know I have little or no chance of being audited based on my income! :-)

[@michaelpisciarino5348]

0:12 1. Income Level 2. Tax Activities 3. Any unusual items? 0:54 More money = higher chance of being audited (go after big fishes for bigger rewards) 2:15 2:41 500K-1Mil. 1% 3:45 Schedule C reports business income 4:27 Losses

[@clearvaluetax9382]

Thank you Michael!

[@davidgray2845]

The IRS began garnishing my wages in 2010. I had no idea why. I contacted them and found out they said I owed money from 2006. This wasn’t true. It took me over a year to prove it. Once I had a lawyer and showed I owed them ZERO. They kept the money they garnished and told me they didn’t have to remove the tax lien on my vehicle. I’ve been audited every single year since. I make about 60K a year. I hate these people!!

[@HxC_Fragman]

EVERYONE at the IRs are scam artists and scum bags. They work for the International monetary fund. They operate under UCC commercial coding but act like your a domestic terrorist when using it or requesting YOUR PROPERTY. like Social security card and cusip number ect.

[@b__w_4565]

@@HxC_Fragman seriously who tf would even wanna work for our crappy government programs now? they are the robots that like the nazis before them are just following orders!!!

[@user-ub3bv8gs5d]

can you sue the IRS?

[@HxC_Fragman]

@@user-ub3bv8gs5d absolutely. Better have everything squared away because they will intimidate you with jail and prison because thats how they operate. They hope and pray that people dont rebuttal anything they offer. Just like the guy above says they dont have the time they surely won't have time to prove everything they claim POint for point in court because most of the stuff they claim doesnt even exist.

[@davidgray2845]

@@HxC_Fragman Correct. The lawyer that squared this away for me told me that the reason they didn’t have to return the money or remove the tax lien from my vehicle was because too much time had lapsed. You can win the battle, but you’ll always lose the war.

[@YakMotley]

Great video! How do I explain to the IRS I bought a boat motor and blew it up for a video? You know, youtuber problems lol!

[@clearvaluetax9382]

Hi Yak, that'll actually be pretty straight-forward if you have it on film and it's public with a timestamp. Just don't delete the video. Thanks for watching and for your support Yak Motley!

[@user-qk7yy8xi3q]

👍

[@silverbackape99]

@@clearvaluetax9382 I take care of my dad through IHSS and has a share of cost and we live together but he never pays me because he doesn’t have enough money from his share of cost. So I don’t really get paid and I don’t really charge him. How do I even enter that income that I don’t really have?

[@jmgraydz]

Business write off

[@mrstutoring]

Was the video "Boats and Hos?"

[@naseemasait2302]

Thanks. Your presentation was clear and simple.

[@paigeg.4889]

the quality of this video is really good for the subject matter

[@Os-wk9tv]

My parents got audited (they r the most honest rule followers of all time!) My Dad worked as a nurse and my mom stayed home. We had lots of chickens, so my Dad went to work with eggs and would sell them for a $1.50...my mom reported this on their taxes. The second year they did this and just guessed that they probably sold the same amount as they did the year before, this apparently got them red flagged and audited. They got fined it was super stressful and a long process and that was the year the IRS stole our Disneyland trip, over a couple dozen 🥚

[@adrianortiz3751]

@ClearValue Tax SPAM. Report this fake account, it is NOT Brian!

[@kerripendragon4888]

Why tell the IRS you sell eggs to begin with? You are not making over 3000 bucks on those eggs are you? Why bother to report some change?

[@SLEEP8313]

Why report that your selling eggs? Unless your trying to start a business.

[@bayareababe]

My parents are the same way. I hope that your parents learned an important lesson- never be too honest with an organization as corrupt and shady as the IRS. I hope they never reported another egg again lol

[@xSuperMetroidx]

People who are overly honest and trusting of authority make themselves into easy targets. Let that be a lesson to keep things private when at all possible.

[@travisfoster8234]

I made 15k last year...am estimated to get $700 back in taxes...and the IRS is auditing me this year...

[@clearvaluetax9382]

Uggghhhhh.... that's awful. I'm sorry to hear that Answer the Calling.

[@juanvaca905]

Why is that? Did you have suspicious deductions or credits?

[@travisfoster8234]

@@juanvaca905 No I dont believe so I worked a normal 9-5 for some of the year and then part time the rest. They say they'll respond within 6 weeks, I even thought about possibly claiming some stuff I shouldnt, but I purposely didn't because I'm a Christian now

[@mogotrevo]

@@travisfoster8234 You had to become a Christian to be a good human being? That's not good.

[@travisfoster8234]

@@mogotrevo Actually...yes. I was incapable of acting w/o sin. Even if I did pay my taxes correctly and treated people better than other humans, I was totally incapable of acting w/o constantly sinning against a Holy God. Just like you. Just like every one else. I'm so thankful One would die for me so that I could be saved from that sin 🙌🏼

[@LegoSwordViedos]

Happened several times to family members around me and one had to deal with it three times. All of them poor. And I mean make less then $20,000 poor. And the stress and problems it causes for everyone is just awful.

[@clearvaluetax9382]

Jeez, that's awful, I'm sorry to hear that Viridian. Unfortunately, everyone is at risk of being audited..

[@tigerjonn]

That means you are filing taxes in a way it stands out...like something is very wrong, or you have a horrible tax guy....

[@reecedavis3859]

They need dependency to claim .. like 3 kids or covid19 lol 😂😂

[@mercymejia9539]

I would like to speak with someone who has been audited.

[@felixedin8764]

Thank you for the information/value. There should be more straight forward content like this on youtube.

[@looweegee252]

Agree

[@karlsalocks]

You have a great channel. Glad I discovered it.

[@clearvaluetax9382]

Thank you KGS 1982 for all your support, I appreciate it very much!

[@A42yearoldARAB]

I live in greedy Minnesota. They audited my gf when she was making 40k. Good thing they had spare money to build those stadiums though.

[@clearvaluetax9382]

Ughhh how unfortunate, I'm so sorry to hear that.

[@littlemouse9900]

Yeah my mom got audited 2 years in a row they didn't understand how she could have lived off of so little money. She lives in Minnesota too 😆 it has to be the state.

[@TheMasterhomaster]

IRA audited her or Minnesota?

[@juddyyoutube]

I love that you reply to every comment. Great video brother. I subscribed

[@clearvaluetax9382]

Thank you Josh for your support, I appreciate it!

[@paulmartin7334]

Makes me feel even less worried about not claiming my $100 in stock gains.

[@MannyA69247]

Love how he explains all this vital info for regular folks.

[@sreykimsear]

Your videos are amazing for us as tax preparers and small business owners.

[@RFABProductions]

If you breath you get audited, if you talk you get audited, if you stare you'll get audited, and if you live you'll definitely be audited!

[@clearvaluetax9382]

Yup, that pretty much sums it up.

[@TheFlyingPLiner]

I've only been audited once. It was a "random audit" I was an 18 year old college student with an annual income under $15k. Gigantic waste of time for everyone involved.

[@tidus9942]

how was it a waste of time. Should have been pretty quick. You had a W-2 and thats it I am guessing. The only other thing they would have done is look at your financial history to try and find other unclaimed income. A lot of people at that age get paid under the table and an audit can easily find it when your bank statements dont match you income. Its why I tell people, if you make any money under the table, keep it in cash and simply spend it on non necessity things. the reason for non necessity being so the IRS c ant ask the question, how did you pay your mortgage or where are you monthly grocery bills.

[@peacockhorsepower3181]

So yeah a complete waste of time.

[@richardroberts3322]

The people shouldnt live in fear of being audited by the government, the government should be afraid of being audited by the people! Let's form a militia and enforce our constitutional rights. We dont want any of the extra "amendments"

[@tskjesusfreak]

That is dumb, here is a better solution, be an Expat and just float around the world.

[@clearvaluetax9382]

Richard... my goodness. WELL SAID!

[@clearvaluetax9382]

LOL. Nice tskjesusfreak.

[@britzzavibe]

Thank you! And you know your are doing something right when your mentioned by the New York Times magazine. Keep it up!!

[@Jaden48108]

Informative video. Well done. Thank you.

[@partyman5909]

Your hair is on point bro and good info!

[@clearvaluetax9382]

Thanks party man for noticing, I appreciate it!

[@veeanon2238]

Oh god I'm an online business owner and I scared shitless of an audit. Granted I'm not profitable but still...

[@clearvaluetax9382]

uggghhhh, tell me about it... just try your best to reduce audit risk and that's the best we can do.

[@The.LastMelon]

IRS looking at return: "There is no way this guy lost this much money. lets do a Audit Guy gives over all paperwork* IRS looks over paperwork: oh....we're sorry. Carry on.

[@67_PowerStroke]

How are you not profitable? I'm very curious as I'm an online merchant and have no clue what i'm doing when it comes to bookkeeping and taxes. I dropship a lot of merchandise and have no way to keep track of "inventory" for tax reporting.

[@woke72]

Me to, i just received the 1099s from the business merchant account so theres no hiding it. Im doomed!

[@ap23z]

Russell Stamey if you’re drop shipping you have no inventory...

[@FinnishArmy]

I got audited for 2019 taxes... I only payed flipping $62 of taxes on some $1,000 as an independent contractor.

[@tomastan6384]

Excellent video on Kucoin. Will definitely have a look. Keep it up!

[@emmetts1899]

This video was very informative,thank you for taking the time to make it.

[@clearvaluetax9382]

Thank you Emmett for your feedback and kind words, that's very motivating to me. I appreciate it!

[@Loooooooooooooooool]

23 year old here. I got audited and had to pay back ~$200 for something to do with my student loans years back when I had my dad doing my taxes. I definitely don't make 500k+

[@gotime1124]

you missed the part,, if you get audited you at low income , you are just unlucky

[@Loooooooooooooooool]

@@gotime1124 Yeah the same day I got audited I also got jury duty. What a shitty mail day.

[@Pppp-yf4lj]

This guy reminds me of Chester Ming from the Wolf of Wall street... but healthier looking.

[@clearvaluetax9382]

L O L Pp pp thanks for the awesome comment.

[@TheFutureEvents]

😂😂

[@denverbevins4052]

Worse than an audit - a summary fine and simple demand for more money - happened to me several times when I made 240k or more. No audit - no process. Just pay us or we will audit you. Your chouce.

[@clearvaluetax9382]

Where's the justice?!

[@bondpit8750]

If you know your taxes were done correctly and every deduction you claimed was allowable under the tax code, plus all of your books and records complete, then why would you just pay? I’d have said ‘go ahead and schedule that audit.’

[@denverbevins4052]

@@bondpit8750 the company I worked for at the time reported to the IRS something different than what was on my w2. I thought the government should go after them. "We always come after the individual" we the response. The company went out of business anyway and could not make the situation right but the government idiot bots don't care. The reason a common person does not want an audit is because 7 years of possible mistakes, coupled with you're a slave to the opinion of whatever child the IRS sends. Ask 3 tax specialists at IRS a question and you will get different answers. Look up how many people go to jail & lose their stuff before inviting the IRS to examine 7 years of documents. They absolutely do not care that you think you've been honest.

[@bondpit8750]

denver bevins 30 yrs ago I was selected for a random audit. A small math error in favor of the IRS was discovered but waived. The auditor asked me if I had the same kind of records for the two previous years. I answered yes that I did and he scheduled me for another 2 examinations. No changes were made to my tax obligation after all three audits. The IRS has to operate within the rules. I believe 3yrs back is the allowed limit unless fraud is found.

[@ShotGunner5609]

Interesting suggestion youtube. But good information and delivery. Thanks.

[@Melki]

Hi, thank you for your videos they are rare and really good. I'm from Indonesia and I'd like to offer my idea for this issue. Firstly the accounting standards, I imagine this applies to many other countries as well including yours... we have small business accounting standards separate from the IFRS standard. So auditors could come not only from experts in the IFRS or GAAP but also from the small business standards. Therefore the solution for everybody is for the tax office to supervise directly to public accountants and let the audited reports be admitted as tax audited, certified by the tax office. In case of disagreements and the tax office persisted the compensation still would be paid by the individuals not the auditors but the relationship and the reputations of the auditors would be impacted in various ways so this imo will solve the problem of piling unaudited financial statements/reports in the tax office.

[@superduperboyx]

Thanks for the informative video. And I'm jealous, I wished I had your hair, looks pretty solid! Haha

[@clearvaluetax9382]

L O L, thanks so much superduperboyx!! I appreciate it!

[@marcinkowalski2668]

Internal robbery service... biggest criminals in history

[@clearvaluetax9382]

You tell the people Gina!

[@a1bells501]

Facts

[@rocknroller167]

Well really the government is... they are just the guys enacting the laws.

[@CGoody564]

@@clearvaluetax9382 gotta hold the "federal" reserve equally accountable

[@panama2468]

Not really but ok. Biggest thieves are the rich white European Christian males who steals trillions of dollars year over years and get us engaged in wars that steal resources from the nonwhite countries. Only morons think the IRS steals their own govts money. You didnt make those bills.

[@first001]

I have been cheating on them for the past 12 years or so and nothing. Good info.

[@clearvaluetax9382]

Nice First!!!!

[@sisco5153]

*IRS has entered the chat*

[@first001]

Francisco Luna IRS is scared of me.

[@ssttay4226]

@@first001 what kind of cheating are we talking?

[@Christopher._M]

How about now?

[@stevenhaff3332]

Thank you for your video. Every little bit of information helps. God bless!

[@elishahmartinez1452]

I formed a business last year and your video answers a ton of questions. Especially since I've always done my own taxes, and I just filed.

[@stevejohnson174]

I remember receiving a notice of audit back in like 1998. I made like 30k working a blue-collar wage job. I claimed nothing on my taxes other than the standard deduction and tuition. I didn't hear anything beyond the initial letter, probably because an auditor finished his "audit" in the four minutes it took to do basic math and checking for enrollment, or something.

[@bloody_magpie]

The IRS: You have 0.5% chance on being audited. Gacha players: That's almost like 100%!

[@xxdavexx23]

Why is this so true tho? 0.5% to proc is 100%. 99.5% to evade, that’s like 50/50

[@jeanxza5395]

Lmao, the way I see it, it's always 50%. It either happens, or it dosen't

[@potamochere333]

@@xxdavexx23 What?

[@Woeisme2]

Sick hotaru pfp, used to be mine on Instagram a few years ago lol

[@bloody_magpie]

@@Woeisme2 Men of Culture assemble!

[@moresalad221]

I got audited by the IRS years ago for forgetting to report an income form. I'm still fighting them on this.

[@clearvaluetax9382]

Ah man, I'm sorry to hear. It's a drawn out battle with them.... I hope it gets resolved soon.

[@moresalad221]

Thanks, it's in process but since I still technically owe them money, they'll take all my refund away from me. I'm a college student, and that could've helped so much.

[@moresalad221]

@@codecaine forgot it. It was for my employment. I'm a college student, I forget shit like that lol. I know what you mean hahaha

[@moresalad221]

@Porsche Boxster Content nah, they charge you interest as well if you go past the deadline to pay it off.

[@matthewmclaughlin4609]

These are good statistics. Thanks. From a fellow tax person (CPA)

[@hue4512]

Very informative! Thanks, and hello from Chicago.

[@curiouspeople6441]

Just admit it , our tax system is too complex. If IRS know how much you making from 1099 then why the hell we have to file tax telling them how much we make

[@clearvaluetax9382]

Hi Curious People, it's because the 1099 only reports the income side of it, it gives no information on your expenses (your deductions).

[@camcneiljr]

They can find a lot in the general ledger and bank statements.

[@milesralls7972]

There was actually a bill that was proposed to eliminate the whole process of filing taxes, but TurboTax lobbied against it so hard that it got shot down.

[@CodyLeon]

Me willing watching a video on taxes, guess adulthood is finally here

[@jonathanhouser8194]

So you're saying we can stop pay our taxes and we'll probably be ok as long as we make less than 500,000?

[@clearvaluetax9382]

Odds are in your favor Jonathan.

[@jonathanhouser8194]

@@clearvaluetax9382 Yes!

[@artki6039]

Thank you so much for clear explaining Mr. Kim. I’m your new fan 😆 👍

[@edmundlestari6626]

I need a CPA like yourself here in california. One who knows a lot of things and nice enough to explain it to me :)

[@henryjohnson-ville3834]

Same!

[@edmundlestari6626]

Please leave a recommendation if you know a friend who is kind like yourself sir

[@henryjohnson-ville3834]

@@edmundlestari6626 I need to fine someone with crypto experience. Let's just say I invested ALOT into crypto and not sure if I should pull out 25% only because the more you pull out, the more you pay in fvcking taxes. Did I say I hate the government?

[@DStabs720]

Open up your wallet! $500 an hour

[@noseefood1943]

I was audited back in 2006 with $145000 income. I met with an IRS agent and he was very understanding and I ended up owing only $1000.

[@clearvaluetax9382]

Yeah, they're reasonable people at the end of the day. Thanks for watching and for your support Noseefood!

[@MrTheDays1]

Same

[@jneroo226]

I'm sure you were shaking like a hairless Chihuahua in a rainstorm for that meeting. lol

[@Yelegdir]

I was audited last year, they wanted me to pay $10k but it was just a mistake on their end.

[@mrgilmore6953]

I'd be very understanding too if I got to steal $1,000 from you

[@derekbradford8271]

Go to your HR and stop paying income taxes and put that money back in your pocket

[@clearvaluetax9382]

Yeah, you tell them Derek!

[@socialmediadailynews7263]

How , with the new w-4 form

[@ElTokeMaestro]

Social Media Daily News yes with the w-4 you can add extra fed tax or reduce fed tax

[@EverydayJiuJitsu]

I claim “exempt” status throughout the year and pay in at the end. I was sent a letter stating I could not claim exempt status and could be fined $500... so I mailed them the letter back and kept it exempt lol we’ll see how that works out

[@davidhamilton1446]

What's the difference between tax avoidance and tax evasion? The thickness of a prison wall.

[@MaximusDingus007]

Wow i was half asleep when i read the tittle and i thought it said. Chances of getting an Audi 5RS if you make under 500k.

[@clearvaluetax9382]

L O L

[@decimadavis5065]

Dude.....your videos are priceless. Thank you! ❤

[@P1983sche]

Man that tie is on point...

[@clearvaluetax9382]

Double Windsor, thanks NES 83'!

[@P1983sche]

ClearValue Tax Classy 100 percent

[@sethrambo2234]

Theoretically, can someone be audited who makes a negative net income? Speaking theoretically, of course..

[@clearvaluetax9382]

Absolutely! They are audited very much. Negative income creates a net operating loss deduction which carries forward to future years to be used as a deduction.

[@dunkdamonk]

Honestly though even if you have a 4 or 5% chance, the IRS can at any time look back over years. If they notice patterns year after year they're gonna bug ya. That 5 percent in a way becomes 35%

[@clearvaluetax9382]

It's very true, they have the power to go back as far as they want if they claim it as suspicious enough.

[@juanpablosaenz852]

I swear they’re listening to me. I was just talking about this with my friend. I’ve never searched up anything related to this. Crazy

[@waltermatthewberg]

Your phone does listen to you while the screen is off

[@rappy470]

I was recommended this video a few times these past few days and don't even live in the US. It's much more likely that it's being shared because it has plenty of views already and a good like-dislike ratio and not because "they" care to listen to you.

[@Kozo_Hoshino_]

Brian as usual hair on point lol...best hair gel in the biz.

[@dragontile]

I don't know how or why but the way you go over tax rules keeps me hooked even when this whole process is irrelevant to me