Ep11 | Airbnb Taxes, 1031 Exchanges & Audit Triggers—Explained by a CPA

🎯 Episode SummaryIn this packed episode of Financially Fluent, host Ray Godleski sits down with CPA Josh Roper from Altruist to cut through the confusion on business taxes, real estate strategies, and IRS audit risks.Whether you're an entrepreneur, real estate investor, or just trying to make smarter moves with your income, this episode delivers the clear, actionable guidance most CPAs won’t take the time to explain.Josh breaks down:LLC vs. S-Corp vs. C-Corp (and when to choose each)What really triggers an IRS audit (hint: not what you think)Donor-Advised Funds & Qualified Charitable DistributionsVehicle depreciation, home office write-offs, and mileage rulesReal estate investing tax hacks (including Airbnbs and 1031s)Why you might be paying penalties on estimated taxes—and how to fix itWhat’s changing (and staying) with upcoming tax law reformPlus: The two sets of books every construction business should be running—and how to make sure both your CPA and financial planner are playing the same game.🔑 Key Topics00:00 – Introduction & Josh’s 25 years of experience02:00 – LLC vs. S-Corp vs. C-Corp: Who should file what?04:30 – Double taxation myths with C-Corps explained06:00 – What triggers an IRS audit & how to prepare09:00 – Donor-Advised Funds: Why high-income givers should use them11:00 – Estimated taxes & avoiding that nasty 8% penalty15:30 – Home office deductions: Myths, facts, and red flags17:00 – Vehicle deductions: Bonus depreciation vs. mileage21:00 – Real estate rental income: Passive vs. active24:00 – 1031 exchanges & how to defer capital gains the right way29:00 – CPA vs. Tax Preparer vs. Financial Planner: Who does what?35:00 – Why you need two sets of books as a contractor37:30 – Deadlines and new tax law outlook for 202541:00 – Bonus Trivia: Who won the NBA Finals in '94/'95?🎧 Follow the show every Tuesday on Apple Podcasts:https://podcasts.apple.com/sg/podcast/financially-fluent/id1796392113📩 [email protected] welcome. Real answers given.Explore our free tools and resources atwww.YourNextStepFinancial.com