Well, obviously I can't advise you but I personally have followed what you are suggesting to a small degree. I'm a calculated risk taker and while it isn't 100% accurate as it is desired by the authorities, I'm a small potato and the difference between 100% accurate and 97% for example is insignificant.

What they are looking for is that you are reporting all of your income and not hiding it. Most audits happen because income is under reported and usually noticeably so. I personally know a couple of individuals who spent time in prison due to trying to hide a good chunk of income.