Tax Audit Preparedness Quiz

Think you are ready for a tax audit? Take our quick, 2-minute quiz to find out and discover how prepared you really are!

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#1. What is a tax audit?

a) A check to ensure taxes are correctly filed.

b) A payment made to the tax authority.

c) A way to get tax refunds.

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#2. Which document is most important during a tax audit?

a) Receipts and invoices.

b) Shopping lists.

c) Personal letters.

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#3. Why might a tax authority audit a business?

a) To find out its profit secrets.

b) To ensure it has followed tax laws.

c) To see how many employees it has.

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#4. What is one sign of being prepared for a tax audit?

a) Keeping a clean desk.

b) Posting about taxes on social media.

c) Organizing tax records.

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#5. What could trigger a tax audit?

a) Late-night work emails.

b) Big mistakes in tax returns.

c) Following tax advice.

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#6. How often should you update your financial records?

a) Once a year.

b) Whenever you feel like it.

c) Regularly throughout the year.

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#7. What should you do if you receive a tax audit notice?

a) Ignore it and hope it goes away.

b) Contact your tax advisor or prepare documents.

c) Throw it in the trash.

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#8. What is one key indicator of tax audit preparedness?

a) Filing taxes at the last minute.

b) Keeping records in order.

c) Memorizing tax laws.

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#9. Why is it important to keep receipts?

a) To decorate your office walls.

b) To show proof of expenses if asked.

c) To make paper airplanes.

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#10. What is one benefit of being prepared for a tax audit?

a) It reduces stress and saves time.

b) It helps you avoid paying taxes.

c) It lets you skip tax filing next year.

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#11. What can help you stay audit-ready year-round?

a) Buying the latest gadgets.

b) Avoiding taxes altogether.

c) A solid tax management plan.

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