Small Business Tax Savings Podcast · Mike Jesowshek, CPA

Are You Going to Jail for Tax Planning? Tax Attorney Sets the Record Straight

·34 min·3 clips

Ed Lyon exposes a specific social media tax trust strategy the IRS has already flagged as fraudulent.

Fear starts the conversation. The host puts the business owner worry right on the table: can legal tax savings get you on an IRS list? Ed Lyon draws a cleaner line. The risky part often comes after someone picks a strategy, when the owner skips the paper trail or handles the details badly. Headlines do not help. Augusta rule stories can make the rule itself sound abusive, but Ed says the problem is usually how people use it. That is different from a 643B trust, where he says the reading of Code Section 643B is just wrong. Buyer beware, seriously. Ed notes that plenty of people pushing that trust idea on Instagram are not attorneys, CPAs, enrolled agents, or tax people at all. The practical standard keeps coming back: document what happened and be ready to prove it. Mileage is the simple example. Deducting business miles is normal, but a big mileage claim needs backup if the IRS asks. Ed says even oil change receipts with mileage noted can help support a vehicle deduction. No free lunch is the mood here. Good tax ideas still need careful setup, records, and a personality willing to follow rules. The close is plain: learn from the conversation, then talk to a qualified professional about your own tax and legal situation.

As heard by us

A practical look at tax risk, execution, and the discipline needed to stay legal while saving money.

Mike Jezishek and tax attorney Ed Lyon keep the focus on risk, not gimmicks, as they sort out what is misunderstood, what is actually dangerous, and where tax planning can slip into criminal trouble.

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Want to cut taxes without wondering if you just crossed into criminal territory?

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