018 – Audits, S-Corps, and Shenanigans: What Can You Actually Get Away With?
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Show Notes
You’ve probably heard someone say, “Just become an S-Corp, the IRS doesn’t audit those.” Today, we dig into whether that’s actually true (spoiler: mostly, yes), and what that means for your tax strategy. Travis walks through real IRS data showing S-Corps are audited way less than sole proprietors, like 1 in 12,000 vs. 1 in 5,000 or fewer. But fewer audits ≠ free rein to deduct your Tesla or dog as “stress relief assets.” We unpack: Why S-Corps fly under the IRS radar What the IRS considers l…
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