Audits, Outlaws, and Oil: Advanced Tax Plays and What Actually Gets You in Trouble with the IRS

About this episode

Ryan and Greg discuss the nuances of tax strategies and the realities of IRS audits.

From writing off luxury vehicles to investing in exploratory oil and gas drilling, what is the line between smart tax strategy and literal tax evasion? Greg and Ryan debunk the paralyzing fear surrounding IRS audits, detailing what auditors actually look for versus what people think will land them in jail. They discuss the infamous case of "The Situation" from Jersey Shore, explain why it is illegal not to file but not illegal not to pay, and break down how the government actively incentivizes you to invest in energy and write it off against active income.

People in this episode

Host: Ryan Pineda

Guest: Greg

Topics covered

• tax strategy
• IRS audits
• tax evasion
• energy investment
• luxury vehicle write-offs

Keywords

• tax strategy
• IRS
• audits
• energy investment
• luxury vehicles
• tax evasion
• The Situation

Mentioned in this episode

Organizations: IRS, Jersey Shore

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