Here's The Easiest Way To Cheat On Your Taxes

Accountant

The New York Times asked a bunch of accountants to name the easiest way to cheat on your taxes.

Here it is:

Run your own company. More specifically, as Greg Kyte, a Utah C.P.A., puts it, be the sole proprietor of a Schedule C business. Then you can buy stuff for yourself and probably write it off as a business expense. “You can look through your receipts for the year and say, ‘Here’s some stuff I bought at Home Depot,’ ” says Kyte (who, for the record, says he never does this). “The I.R.S. would have no idea if I bought that for my house or for my business.” There were more than 20 million Schedule C returns filed in 2009, with receipts of more than $1.2 trillion.

Read more from the survey including the most ridiculous loophole, the most ridiculous attempted deductions and the biggest red flag for auditors >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.