How to spot bad tax advice

There’s no shortage of ambiguous, misleading, and downright wrong tax advice that could put you on the wrong side of an IRS auditor. Here’s how to recognize and avoid it.

Bad tax advice is not a new phenomenon. Years ago, I can remember hearing a small business owner explaining that making a single comment about his business before dessert allowed him to deduct a dinner out with his wife. According to his logic, his one-sentence remark about work made the meal a business expense.