Episode Summary:

In this episode of the *IRS Debt and Audit Podcast* tax attorney Brian Loughrin discusses the importance of keeping business structures simple for IRS compliance. He emphasizes the significance of maintaining a clear separation between personal and business finances to avoid complications with the IRS. Brian shares valuable insights on setting up designated business accounts and the benefits of structuring businesses as LLCs or S Corps.

Key Timestamps:

00:00 – Introduction

01:30 – Importance of business structure for IRS compliance

03:15 – Clear separation of personal and business finances

04:45 – Streamlining business accounts for simplicity

06:20 – Client example of complications due to multiple accounts

08:10 – Payroll tax obligations and structural clarity

10:00 – Analyzing business structure to diagnose IRS issues

12:15 – Role of a tax attorney in cleaning up messy setups

14:30 – Encouraging business owners to seek help for IRS problems

About the Show:

The *IRS Debt and Audit Podcast* features expert insights from tax attorney Brian Loughrin, offering guidance on resolving IRS issues for individuals and business owners across the country. Tune in to gain valuable knowledge on navigating tax complexities and ensuring compliance with IRS regulations.