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

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

Author: Chris Hutchins November 6, 2024 Duration: 46:33
#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-dilucci Partner Deals Cultural Care: Get $250 off flexible childcare with international au pairs 1Password: Free 2-week trial of my favorite password manager Mint Mobile: $15/mo for unlimited wireless on the nation's largest 5G network NetSuite: Free KPI checklist to upgrade your business performance Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals Resources Mentioned Jasmine DiLucci: YouTube | Website Are Credit Card Rewards Taxable? Request IRS Transcripts Donor-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 Jasmine Connect with Chris Newsletter | Membership | Twitter | Instagram | LinkedIn Editor’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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever feel like there's a smarter, more efficient way to navigate your finances, your travels, and your daily routines? That's the core question driving All the Hacks: Money, Points & Life. Hosted by Chris Hutchins, this podcast is built on a simple, powerful idea: maximizing value doesn't mean sacrificing enjoyment. Instead, it's about the strategic choices that free up resources-both money and time-for what truly matters. Chris approaches life as a series of systems to be optimized, drawing from his own experience saving millions through meticulous analysis. The conversations here are practical and wide-ranging, moving seamlessly from credit card points strategies and investment philosophies to the less tangible hacks for personal fulfillment. You'll hear from a diverse roster of experts and icons, including Tim Ferriss, Tony Hawk, Codie Sanchez, and Gary Vaynerchuk, who all bring their unique perspectives on building wealth and designing a compelling life. Each episode feels like a focused workshop, offering actionable advice you can use immediately, whether it's planning a luxury vacation for a fraction of the cost or rethinking your approach to career and leisure. This isn't just about frugality; it's about unlocking freedom and excitement through smarter decisions. Tune in for a consistently insightful blend of tactical moves and deeper conversations that challenge the conventional trade-offs between spending, saving, and living well.
Author: Language: English Episodes: 100

All the Hacks: Money, Points & Life
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