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TopicsCrypto Deductions Family Irs Llc & S Corp Payroll Personal Taxes Real Estate Retirement Side Hustle Small Business Tax Strategy

You can't hide Venmo and Cash App from the IRS

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You can't hide Venmo and Cash App from the IRS

The IRS now tracks digital payment apps and issues 1099s, so separate personal from business transactions.

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The IRS doesn't care what brand of car you drive

Car brand doesn't trigger audits; the IRS only cares about value and business use.

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How to avoid getting flagged by the IRS

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How to avoid getting flagged by the IRS

Large sudden deductions or losses that don't match your income can trigger IRS attention.

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Why putting kids on your board for trip deductions is fraud

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Why putting kids on your board for trip deductions is fraud

Adding children to your board just to write off family vacations is tax fraud the IRS will catch.

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What the IRS means by necessary and reasonable

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What the IRS means by necessary and reasonable

The IRS tests expenses as necessary and reasonable, but both terms are flexible based on your situation.

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Why fake business losses are risky but airplane deductions are legit

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Why fake business losses are risky but airplane deductions are legit

The IRS expects businesses to profit 2 of 5 years or they may audit you back 7 years with penalties.

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What to do if you get audited by the IRS

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What to do if you get audited by the IRS

Most IRS letters just ask you to verify info, and real audits aren't scary if you told the truth.

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Is AI taking over the IRS?

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Is AI taking over the IRS?

Brief question about whether artificial intelligence is being used by the IRS.

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Why you still owe taxes on small business income

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Why you still owe taxes on small business income

Even if business income is under the standard deduction, you still owe self-employment tax on it.

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When travel deductions to rental property go too far

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When travel deductions to rental property go too far

Travel to rental properties is deductible, but chartering a private jet instead of flying coach will get you flagged by the IRS.

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Why the IRS might call your business a hobby

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Why the IRS might call your business a hobby

If your business only creates losses, the IRS can reclassify it as a hobby and make you repay years of tax savings with penalties.

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There are no secret tax loopholes the IRS doesn't know about

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There are no secret tax loopholes the IRS doesn't know about

The tax code already works in your favor if you understand it; tricks and loopholes just invite trouble.

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Why cash transactions can backfire in an IRS audit

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Why cash transactions can backfire in an IRS audit

If you pay for business expenses in cash and get audited, you won't have bank records to prove your story.

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No, taxes are not voluntary

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No, taxes are not voluntary

The sovereign citizen claim that taxes are voluntary is a misinterpretation with no legal basis.

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Why I started calling myself the real tax guy

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Why I started calling myself the real tax guy

Most tax advice online is clickbait lies; honest tax advice may not be exciting but keeps you safe from the IRS.

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The IRS is not shutting down, so file your taxes

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The IRS is not shutting down, so file your taxes

Despite social media claims, the IRS isn't going anywhere and will auto-file for you without deductions if you skip filing.

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Foreign rental properties can create tax complications

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Foreign rental properties can create tax complications

US rental income from properties in countries where you can't legally own real estate may limit your ability to deduct expenses.

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Why cancellation of debt counts as taxable income

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Why cancellation of debt counts as taxable income

When a creditor cancels your debt, you already received the goods, so the IRS treats the forgiven amount as income.

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What happens when the IRS catches years of unfiled taxes

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What happens when the IRS catches years of unfiled taxes

Random audits can uncover years of unpaid taxes, leading to wage garnishments, liens, and long-term debt collection.

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What happens if you can't pay your tax bill

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What happens if you can't pay your tax bill

The IRS will eventually levy you if you ignore your tax debt, so don't let it build up.

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Are taxes voluntary or mandatory

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Are taxes voluntary or mandatory

Taxes are mandatory; skipping years just means penalties and interest when you eventually file.

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You might still owe taxes on small 1099 income

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You might still owe taxes on small 1099 income

The IRS can file a return for you and bill you for self-employment tax on 1099 income, even if you didn't file.

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TikTok shop income is taxable even without a 1099

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TikTok shop income is taxable even without a 1099

You must report TikTok shop earnings because the IRS can see your bank deposits, and waiting means penalties and interest.

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The best tax trick is just telling the truth

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The best tax trick is just telling the truth

Ignore clickbait tips and tricks; all tax info is public and the real strategy is honest reporting.

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