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IRS Compliance: Staying Out of Trouble and Off the Radar with Mark Martukovich
Description
Navigate the complexities of IRS compliance and safeguard your small business from potential audits with expert insights from Mark Martukovich. In this episode, we uncover common pitfalls, red flags, and strategic approaches to maintaining impeccable financial records. Learn how proactive tax planning and understanding IRS regulations can protect your practice and ensure long-term financial health. Mark Martukovich shares invaluable advice for entrepreneurs aiming for robust compliance and peace of mind.
What You'll Learn:
- Key strategies for avoiding IRS audits.
- Common red flags that trigger IRS scrutiny.
- The importance of clean books and accurate record-keeping.
- How to manage gift cards and payroll for tax compliance.
- Best practices for quarterly estimated tax payments.
- The benefits of proactive tax planning and regular advisor meetings.
- How IRS compliance impacts business valuation.
Protect your business and thrive with smart tax strategies.
#IRSCompliance #TaxPlanning #SmallBusiness #BusinessFinance #PrivatePractice
Mark Martukovich is a Certified Public Accountant and Managing Partner of Business Advisory and Accounting Partners (B.A.A.P.), a firm known for turning accounting from an expense into a strategic investment. With over 25 years of business development and consulting experience, and a career that spans public accounting, corporate leadership, and commercial banking, Mark brings a board-level advisory perspective to every client relationship.
Mark began his career in 1989 as a staff accountant in Cleveland, Ohio, after graduating from The University of Akron with a degree in accounting. His early work in public accounting was followed by senior leadership roles in business development, where he helped organizations scale, implement technology solutions, and open new markets.
In 2004, Mark transitioned into commercial banking, spending a decade advising small and mid-sized companies in the Tampa Bay area. His banking experience gave him a deep understanding of how lenders view business performance, insight he now uses to help clients prepare for financing, expansion, and eventual ownership transition.
Since joining BAAP in 2010, Mark has been the driving force behind the firm’s business advisory consulting model, which combines:
- Tax efficiency strategies that are designed around each client’s long-term goals.
- Operational and financial analysis to improve profitability and resilience
- Succession and exit planning that helps owners turn their business into a true retirement asset.
Mark is a recognized leader in the accounting profession. He serves as a featured speaker for Thomson Reuters’ Partner Summit: Moving Your Practice Forward, where he trains other CPAs on transitioning from compliance-focused work to becoming proactive business advisors. He also served on the Board of Directors of the SPCA Tampa Bay from November 2019 until January 2025, reflecting his commitment to community leadership.
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Welcome to Private Practice Survival Guide Podcast hosted by Brandon Seigel! Brandon Seigel, President of Wellness Works Management Partners, is an internationally known private practice consultant with over fifteen years of executive leadership experience. Seigel's book "The Private Practice Survival Guide" takes private practice entrepreneurs on a journey to unlocking key strategies for surviving―and thriving―in today