Debunking Tax Myths, Avoiding Audits and Maximizing Savings with Jasmine DiLucci

Partner Deals Long Angle: Join a free private community for high net worth investorsBilt Rewards: ⁠Earn the most valuable points when you pay rentQuince: Affordable luxury essentials with free shipping + 365 day returnsFabric: ⁠Affordable term life insurance for you and your familyMasterClass: ⁠Learn from the world's best with up to 15% offFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals#200: Take control of your taxes and save money with unique strategies from tax expert Jasmine DiLucci. Learn how to leverage IRS transcripts, identify misleading tax advice, and differentiate between personal and business deductions. We also cover common audit triggers and valuable tax planning advice for business owners.Jasmine DiLucci is a seasoned tax attorney, Certified Public Accountant, and Enrolled Agent with over a decade of experience. She specializes in tax controversy, litigation, IRS collections, payroll debt disputes, penalty abatements, and audit representation.Link to Full Show Notes: https://chrishutchins.com/tax-savings-2024-jasmine-dilucciPartner DealsCultural Care: Get $250 off flexible childcare with international au pairs1Password: Free 2-week trial of my favorite password managerMint Mobile: $15/mo for unlimited wireless on the nation's largest 5G networkNetSuite: Free KPI checklist to upgrade your business performanceGelt: Skip the waitlist on personalized tax guidance to maximize your wealthFor all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/dealsResources MentionedJasmine DiLucci: YouTube | WebsiteAre Credit Card Rewards Taxable?Request IRS TranscriptsDonor-Advised Fund: Daffy (Free $25 for charity)ATH Podcast: Chris' Newsletter: Subscribe Ep #50: The Power (and Tax Savings) of Charitable Giving with Adam Nash Ep #62: Protect Your Family, Mitigate Taxes and Preserve Your Wealth with Patrick and Mani Ep #147: How to Save on Taxes with Ankur Nagpal Full Show Notes(00:00) Introduction(02:09) Why There's So Much Bad Tax Advice(05:17) Debating for Business Expenses vs. Personal Expenses(07:36) Can You Hire Your Kids to Work for You?(10:31) Ways to Identify Good and Bad Tax Advice Online(14:07) What Actually Happens When You Get Audited by the IRS(20:13) Do Credit Card Transactions Justify Receipts?(21:32) Common Things That Would Flag Audits(24:13) The Importance of IRS Transcripts(28:55) What Happens When the IRS Delays a Payment(30:33) Jasmine's Advice to Minimize Tax Penalties(32:36) What Kind of Tax Documents Can Have Errors?(34:44) Filing Using Tax Tool vs. Tax Expert(38:55) Chris' EOY Tax Checklist(43:41) Business Tax: Setting Up S Corps vs. LLCs(45:07) Changes to Expect in the Near Future(49:30) Where to Find JasmineConnect with ChrisNewsletter | Membership | Twitter | Instagram | LinkedInEditor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.