12 red flags that will get you audited by the IRS

Are you doing your taxes? Kiplinger's Personal Finance magazine has put together a list of 12 audit red flags. Here's what's included among the Dirty Dozen:

1. You make too much money. The IRS will target those with incomes above $200,000.
2. Not reporting taxable income. You must report all 1099s and W-2s, even if you believe them to be incorrect. (Deal with the discrepancies after filing.)
3. You give a lot of money to charity. The IRS knows what others who make similar income to you tend to give and will question you if you're claiming too much.
4. Claiming a home office deduction.
5. Claiming rental losses.
6. Deducting business meals, travel and entertainment.
7. Claiming 100% business use of a vehicle. Be careful, salespeople! To counter any possible IRS questions, I know someone who keeps a paper log on the dashboard and writes down every mile for work, the date and what it was for.
8. Writing off a loss for a hobby.
9. Running a business where almost all money is in cash.
10. Not reporting a foreign bank account. Watch out, Mitt Romney!
11. Engaging in currency transactions.
12. Taking excessive deductions. Again, the IRS knows what is outside normal bounds based on your income.