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Protecting Business Assets From the IRS and Others
Episode Summary:
In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin discusses crucial strategies for safeguarding business assets from IRS enforcement actions. From the potential risks of mixing personal and business finances to the importance of clean record-keeping, Brian offers valuable insights to help business owners navigate tax challenges effectively.
Key Timestamps:
00:00 – Introduction
01:30 – Protecting personal assets in IRS debt situations
03:15 – Exposing assets through business operations
05:00 – Risks of mixing personal and business finances
07:20 – Evaluating business assets during IRS debt collection
09:45 – Case study on asset exposure and IRS actions
12:10 – Misunderstandings in complex business ownership structures
14:30 – Importance of clean records during IRS enforcement
16:45 – Legal protections for reducing business asset exposure
19:00 – Evaluating asset vulnerability and taking proactive steps
About the Show:
*The IRS Debt and Audit Podcast* offers expert insights and practical advice for individuals and business owners facing IRS challenges. Hosted by seasoned tax attorney Brian Loughrin, the show provides valuable strategies to navigate complex tax issues with confidence.
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By irsdebtEpisode Summary:
In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin discusses crucial strategies for safeguarding business assets from IRS enforcement actions. From the potential risks of mixing personal and business finances to the importance of clean record-keeping, Brian offers valuable insights to help business owners navigate tax challenges effectively.
Key Timestamps:
00:00 – Introduction
01:30 – Protecting personal assets in IRS debt situations
03:15 – Exposing assets through business operations
05:00 – Risks of mixing personal and business finances
07:20 – Evaluating business assets during IRS debt collection
09:45 – Case study on asset exposure and IRS actions
12:10 – Misunderstandings in complex business ownership structures
14:30 – Importance of clean records during IRS enforcement
16:45 – Legal protections for reducing business asset exposure
19:00 – Evaluating asset vulnerability and taking proactive steps
About the Show:
*The IRS Debt and Audit Podcast* offers expert insights and practical advice for individuals and business owners facing IRS challenges. Hosted by seasoned tax attorney Brian Loughrin, the show provides valuable strategies to navigate complex tax issues with confidence.