The $2M Yacht Tax Write-Off That Triggered an IRS Audit
Small Business Tax Savings Podcast - A podcast by Mike Jesowshek, CPA - Wednesdays
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Send us a text Could your business deductions survive an IRS audit? In this episode, Mike Jesowshek breaks down a real-life case where a business owner lost $2 million due to an IRS audit after attempting to write off a yacht as a business expense. He explains how poor bookkeeping and a lack of proper documentation led to the disallowance of the deduction. Mike emphasizes the importance of understanding and correctly implementing tax strategies, along with maintaining detailed records to de...
