1. EachPod

178 \\ IRS Audit Triggers: How Schedule C Puts You at Risk and How to Avoid It

Author
Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
Published
Wed 29 Jan 2025
Episode Link
https://smallbusinessfinance.podbean.com/e/178-the-1-irs-audit-trigger-you-re-ignoring-and-how-to-dodge-it/

In this episode, we dive into the number one IRS audit trigger you’re probably overlooking and how to protect yourself. We explain why Schedule C filers are at the highest risk for IRS audits, what the IRS looks for during an audit, and why entity structure matters. You’ll learn how to reduce audit risk by setting up an LLC, separating your finances, and choosing the right tax filing status. We also cover how to handle IRS notices, what records you need, and why good bookkeeping is critical. If you want peace of mind and fewer tax headaches, this conversation is packed with tax tips, small business finance advice, and strategies for staying off the IRS radar.


 


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