Tax Reduction Podcast

Episode 60. How to Handle Short Term Rental Audit

Fri, 10 Jul 2026 13:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Short term rental audit rules can be confusing.

Especially if you used real estate losses, bonus depreciation, or cost segregation to reduce business income.

In this podcast, I explain how to handle a short term rental audit and how to prepare before the IRS or state ever asks for documents.

You will learn the main short-term rental tax rules, including the 7-day average guest stay rule and the 100-hour material participation rule.

I also explain why your hours need to be higher than anyone else working on the property, including a property manager.

Then I break down the documents you should keep before an audit happens.

This includes a detailed time log, guest records, travel receipts, repair receipts, cleaning receipts, and proof of business activity.

If you are already in a short term rental audit, I explain how to organize your response, prepare a cover letter, cite the tax rules, and make it easy for the auditor to review your file.

I also explain cost segregation and how it can create large first-year paper losses when paired with a short-term rental, bonus depreciation, and proper documentation.

This podcast is for business owners, S corporation owners, and real estate investors who want to use short-term rentals the right way and be prepared if an audit happens.

But this strategy has to be set up the right way. Before buying a short-term rental just for the tax write-off, speak with a Tax Advisor who can help you follow the rules and document everything properly.

🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout

*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

Episode 59. How To Write Off Your Home Office (2026)

Fri, 03 Jul 2026 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

In this podcast, I break down how to write off your home office the right way in 2026.

It does not matter if you own a dental practice, a medical practice, a law firm, or a manufacturing business with a warehouse. Even if you already have a real office, you can still write off your home office and get reimbursed the right way.

These are the same home office deduction strategies I use for my tax advisory clients, and most accountants do this the wrong way.

Here's what I cover in this home office tax deduction podcast:

First, who qualifies for the home office deduction. You must have an exclusive use space in your home, and it must be used for administrative work. I tell you exactly why a home office that is used for administrative work can become the principal place of business for IRS purposes, even when you already have a main office.

Second, what you can deduct. I walk through the main home office expenses: mortgage interest, property taxes, insurance, and utilities. I tell you how to calculate the home office percentage using square footage, and why business owners with expensive homes can write off tens of thousands of dollars in home office tax deductions.

Third, how to reimburse yourself the right way. This is the biggest mistake accountants make with the home office deduction. You do not just stick a number on your S corporation tax return. You reimburse yourself through an accountable plan, the business takes the expense, and you do not pick it up as income. I go over how the accountable plan works and why the home office reimbursement is classified as a rent expense on your books.

If you are an S corporation owner, getting the home office deduction right with an accountable plan can save you a lot of money on taxes, and it is money sitting in your company that you can legally take out.

Episode 57. 3 Tax Planning Strategies To Use Mid Year

Fri, 19 Jun 2026 14:00:00 -0400

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In this podcast I tell you three tax planning strategies that business owners can use mid year to save money. These are the exact strategies I use with my clients in our tax advisory firm, and there is still plenty of time left in the year to put them to work.

First I cover the accountable plan and the Augusta strategy. The accountable plan lets you pay yourself back for home office costs like mortgage interest, property taxes, utilities, and insurance. One of my clients saves about 36,000 dollars a year just from this. The Augusta strategy lets you rent your home to your business for up to 14 days a year completely tax free. You can use it for meetings, holiday parties, or client presentations, as long as you keep good documentation.

Next I break down reducing your salary to a reasonable amount. This does more than lower your Social Security and Medicare taxes. It also raises your QBI deduction and your PTET deduction, which can add up to thousands of dollars in extra savings. In my example, these two moves alone created 40,000 dollars and 20,000 dollars in additional deductions.

Then I cover bonus depreciation for self rental. If your business rents a building you own, you can use cost segregation to speed up your depreciation and create a large write off. The best part is you can still do this even if you bought the building a few years ago, by doing a catch up.

As a bonus I explain why so many business owners are missing the QBI deduction completely, and how one client got a 120,000 dollar refund after we caught it. This is one of the most overlooked tax planning moves for S corporation owners.

Episode 56. How To Pay $0 In Taxes Using Real Estate

Fri, 01 May 2026 14:00:00 -0400

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If you want to know how to pay $0 in taxes as a business owner, this video is for you. I sat down with Rod Khleif, a real estate investor, entrepreneur, and host of one of the largest real estate podcasts in the world (Lifetime Cash Flow), to break down exactly how he pays $0 in taxes using real estate, and how you can do the same thing.

Rod has owned over 2,000 houses, owns thousands of apartment units, and is currently buying senior housing facilities in Texas. He also famously lost $50 million in the 2008 crash and built it all back. In this interview, we cover his comeback story, the mindset shift that took him from making $8,000 a year to over $100,000, and the exact tax strategies he uses to pay zero in taxes year after year.

First, Rod explains why 90% of millionaires either made their money in real estate or invested in it, and the main reason is the tax benefits. We talk about how the tax code is literally written to encourage real estate ownership, and how full-time real estate investors can legally write off their entire income.

Then I break down the real estate professional status and the 750 hour rule, what it actually means, and how business owners can qualify to write off active income against real estate losses. We also cover passive investing for business owners who don't have time to be an operator, and how passive losses from real estate can offset passive income.

Next, Rod and I get into cost segregation and bonus depreciation, the two strategies that allow real estate investors to write off 60 to 70% of their investment in the first year instead of waiting 39 years for commercial property depreciation. I explain how this works for S corporation owners and high-income business owners who want to reduce their tax bill fast.

We also cover the BRRRR method (Buy, Renovate, Refinance, Repeat) and how Rod uses it on apartment complexes and senior housing to pull money out tax-free for his investors. If you want to understand how real syndications work, how investors get their money back, and how the cash flow gets split between operators and limited partners, this part is for you.

Finally, Rod talks about the opportunities in real estate right now, why properties are selling for 35% less than they did in 2022, and why senior housing and assisted living are some of the biggest opportunities for business owners looking to invest passively or become operators.

𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝘄𝗶𝘁𝗵 𝗥𝗼𝗱 𝗞𝗵𝗹𝗲𝗶𝗳:
🔗 https://rodslinks.com/
🔗 https://rodkhleif.com/

Episode 55: Accepting Crypto Payments In Your S Corporation

Fri, 24 Apr 2026 16:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Accepting crypto as payment in your S-Corporation? Before you do ANYTHING, listen to this podcast. Crypto inside an S-Corporation doesn't work like a stock investment, real estate, or even holding crypto personally. The IRS has specific rules for digital assets inside a business, and if you don't understand them, a profitable decision can quickly turn into a tax nightmare.

In this podcast, I walk you through the 5 critical tax rules every S-Corporation owner MUST know before accepting, holding, or trading cryptocurrency inside their business. Plus, a powerful retirement account strategy that lets you invest in crypto completely tax-free (legally).

Episode 54: 5 IRS Audit Flags for Business Owners

Fri, 17 Apr 2026 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

5 IRS Audit Triggers Every Business Owner Must Avoid in 2026. If you're running a business and taking write-offs, the IRS may already be watching. In this podcast, I break down the five biggest IRS audit red flags that get business owners flagged, and exactly how to avoid them.

The IRS doesn't audit business owners randomly. They use algorithms to compare your tax return against thousands of other business owners in your income bracket and industry. If your return looks abnormal, you get flagged.

First, I cover consistent business losses and why repeated losses on your tax return signal to the IRS that your business might be a hobby, not a real business. Then I explain how meals, travel, and lifestyle write-offs get business owners in trouble when personal expenses start getting disguised as business deductions.

I also break down under-reporting income, one of the fastest ways to trigger an IRS audit, especially when your reported income doesn't match the 1099s the IRS already has on file. If you have income coming in from Stripe, Zelle, wire transfers, checks, or cash, you need to hear this.

Next, I cover sloppy tax returns and rounded numbers, a red flag most business owners completely overlook. When every number on your return ends in zero, the IRS sees that as guessing, and that destroys your credibility.

Finally, I explain why Schedule C businesses get audited more than any other filing type, and when it makes sense to move from a Schedule C to an S Corporation for better structure and lower audit risk.

At the end, I break down the IRS 3-year audit rule, the 6-year rule for under-reported income, and why there is no time limit when fraud is involved.

Episode 53: PTE Tax Strategy Changes in 2026

Sun, 05 Apr 2026 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

The PTE tax strategy is changing in 2026 but it is NOT going away. If your accountant told you to stop using the pass through entity tax strategy because the SALT cap increased to $40,000, they are wrong. In this podcast, I break down exactly what changed with the PTE tax strategy, why the $40,000 SALT deduction limit is misleading for profitable business owners, and why the PTE pass through entity tax election is more important now than ever.

In 2017, the Tax Cuts and Jobs Act put a $10,000 cap on state and local tax deductions, also known as the SALT cap. That meant business owners who were paying $30,000, $40,000, or even $200,000 in state income taxes could only deduct $10,000 on their personal tax return. States fought back and created the PTE pass through entity tax, which lets S corporation and LLC owners convert personal state income taxes into a business tax deduction. This strategy has saved our clients tens of thousands of dollars every year.

Now in 2026, the One Big Beautiful Act raised the SALT cap from $10,000 to $40,000. A lot of accountants are telling their clients the PTE strategy is no longer needed. Here is what they are missing: there is a modified adjusted gross income phase out. If your total income is $500,000 or more, the $40,000 SALT cap starts dropping. If your income is $600,000 or more, your SALT cap goes right back down to $10,000. That means the PTE tax strategy is still critical for every profitable S corporation and LLC owner.

I also walk you through exactly how to make a PTE election, when the deadlines are by state, why you should pay your PTE taxes quarterly, and how to claim the PTE tax credit on your personal return. If you are not using the pass through entity tax strategy with your tax advisor, you are overpaying in taxes.

Episode 52. Top 5 Easy To Use Tax Strategies

Fri, 27 Mar 2026 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Top 5 easy to use tax strategies that will reduce your taxes and save you money in 2026. These are my top 5 tax strategies every business owner needs to know.

If you own a business, these five tax strategies are ones you need to start using today, and three of them can still be applied retroactively if you haven't filed yet.

I break down each strategy step by step. First, I cover Trump accounts and how your business can take a $2,500 per employee tax deduction that's completely tax-free to your employees. Then I get into retirement on steroids - how a defined benefit plan combined with a 401k lets you put away $200,000 or more into retirement and take it as a business deduction, even retroactively.

I also explain the difference between bonus depreciation and section 179 depreciation, including why section 179 might be the better option for most business owners, especially in states like New York and California that don't allow bonus depreciation. If you carry inventory, I walk you through the section 471 books and records method that lets you deduct 100% of your unsold ending inventory by filing form 3115 for an automatic accounting method change.

Finally, I cover the PTE pass-through entity tax strategy and the new $40,000 SALT deduction limit, why this strategy still makes sense for every S corporation and LLC owner, and how it works as a legal double deduction. Whether you're a sole proprietor, S corporation owner, or LLC member, these five tax strategies can help you pay less in taxes in 2026.

Episode 51. Cost Segregation For Dentists

Fri, 13 Mar 2026 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Cost Segregation for Dentists: Your accountant told you that you can't use a cost segregation study on the building you own because of passive loss rules. If you're a dentist or any medical professional, your accountant is wrong. In this podcast, I break down exactly why the passive loss rules don't apply to you and how you can take a massive depreciation deduction this year using cost segregation in 2026.

I had a dentist call me last week with a $400,000 tax bill. His accountant told him cost segregation wasn't an option because he wasn't a real estate professional. That accountant was applying the passive loss rules exception incorrectly. If you own the building where your medical practice operates and you're the tenant, this is a medical professional tax deduction you need to know about.

I walk you through the three things every medical professional needs to know about cost segregation for dentists. First, why your accountant said you can't do it and why that logic doesn't hold up. Second, the self-rental exception under Section 469 grouping that changes everything for dental practice tax planning. Third, how accelerated depreciation and real estate depreciation work together so the deduction actually hits your tax return.

This is one of the most overlooked tax deductions for doctors, chiropractors, and physicians. Whether you need a chiropractor tax strategy or dentist tax planning, if you own your building, a cost segregation study can unlock a massive depreciation deduction in a single year. That's how powerful this medical practice tax savings strategy is for any S corporation tax strategy.

Episode 50. How to Pay Yourself as an LLC Owner in 2026

Fri, 06 Mar 2026 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

How to pay yourself as an LLC owner in 2026 — I break it down in 3 simple steps. Whether your LLC is taxed as a sole proprietorship, partnership, S corporation, or C corporation, I walk you through exactly how to pay yourself from your LLC the right way.

I cover the four ways your LLC can be taxed and what each one means for how you take money out of your business. I explain the difference between owner's draws and distributions, how self-employment tax works at 15.3%, and when electing S corporation status can save you tens of thousands of dollars. If your LLC is making $100,000 or more in profit, I show you how to structure your compensation the smart way.

I also get into the implementation side — how to determine your current tax classification, whether an S corp election makes sense for you, setting up payroll, taking reasonable compensation, and making your quarterly estimated tax payments on time. This is your complete guide to paying yourself legally and tax-efficiently as an LLC owner in 2026.

Episode 49. How to Use Trump Accounts as a Business Expense

Fri, 27 Feb 2026 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Trump Accounts are a brand new tax-advantaged savings account for children, and most business owners have NO IDEA they can use this as a business tax deduction.

In this podcast, I break down exactly how Trump Accounts work, how you as a business owner can contribute up to $2,500 per year to your employees' children's Trump accounts as a 100% tax-deductible business expense, and how to combine this with hiring your own children in the business for even bigger savings.

I go over what Trump Accounts are and who qualifies, the $1,000 government contribution for babies born 2025–2028, how employers can contribute $2,500 tax-free to employees' children's accounts, and why this beats giving a raise. I also show you how to hire your kids and pay them up to $16,100 tax-free in 2026, how to combine Trump Accounts with the $5,000 annual contribution limit, and how strategies like bonus depreciation, Section 179, R&D tax credits, and the QBI deduction all tie back into this.

Let's also cover no tax on tips, no tax on overtime, and how these connect to Trump Accounts. Plus, a full step-by-step implementation plan so you can actually put this to work in your business.

Whether you're an S corporation owner, sole proprietor, LLC, or partnership, this podcast shows you how to keep more money in your pocket using 2026 tax strategies that actually work.

Episode 48. Trump to Eliminate Income Tax For Business Owners

Fri, 06 Feb 2026 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Is Trump really eliminating income taxes for business owners? The short answer is no, but the One Big Beautiful Bill Act that passed on July 4th, 2025 made MASSIVE tax changes that directly benefit S corporation owners and small business owners right now. In this podcast, I break down exactly what's law versus what's just a proposal, why economists say eliminating income taxes won't work, and the 3 tax strategies for 2026 every business owner needs to know about immediately.

Here's what happened: Trump signed the One Big Beautiful Bill Act into law, and while it didn't eliminate income taxes, it made the 20% qualified business income deduction (QBI deduction) permanent, brought back 100% bonus depreciation permanently, and locked in corporate tax rates at 21%. These are real tax law changes you can use on your 2026 tax return.

Trump has also been saying he wants to completely replace income taxes with tariff revenue. The problem? The federal government collects $2.7 trillion from income taxes - that's 54% of all federal revenue. Tariffs only brought in $195 billion. The math doesn't work. Economists say trying to replace income taxes with tariffs would push the federal deficit to $4 trillion. So don't make business decisions based on something that isn't law.

Here's what you SHOULD be doing: First, the QBI deduction is now permanent, which means S corporation owners can optimize their W-2 salary versus distributions with a long-term tax planning strategy instead of year-by-year guessing. Second, 100% bonus depreciation means every dollar you spend on qualified equipment, vehicles, and machinery is fully deductible in year one. If you've been considering equipment purchases, this is the time. Third, with corporate tax rates at 21% permanently, there's a C-corporation income shifting strategy that can create significant tax savings for S corporation owners in higher tax brackets, but this MUST be done properly with a tax advisor.

If you own real estate in which your business operates, a cost segregation study just became even more valuable. You can reclassify building components to shorter depreciation periods and take advantage of 100% bonus depreciation against your business income.

The bottom line: don't get distracted by the "Trump eliminating income taxes" headlines. Focus on the tax benefits that are ALREADY law and work with a tax advisor to maximize your deductions for 2026. If the income tax elimination proposal ever becomes real legislation, I'll be the first to break it down for you.

Episode 47. Augusta Tax Strategy

Fri, 30 Jan 2026 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

The Augusta Tax Strategy lets S corporation owners pay themselves tax-free money from their business, completely legal under Section 280A of the tax code. In this podcast, I break down exactly how this powerful Augusta rule tax strategy works, the 5 critical rules you must follow, and how to implement it correctly so you stay on the right side of the IRS.

Here's the deal: If you rent your home to your business for 14 days or less per year for legitimate purposes like board meetings, strategic planning sessions, or client events, that rental income can be 100% tax-free to you personally. Meanwhile, your S corporation gets a full business deduction for the expense. This tax strategy for small business owners is a win-win when done right.

Most business owners have never heard of the Section 280A rental strategy, and their accountants aren't telling them about it. That's a missed opportunity for thousands in tax savings for S corporation owners every single year. If you're focused on tax planning for 2026, this is one deduction you can't afford to ignore.

In this podcast, you'll learn what the Augusta tax strategy is and where it comes from, how your S corporation can legally rent your home, the 14-day rule that makes this income tax-free, fair market value requirements for rental rates, documentation the IRS expects to see, why this doesn't work for sole proprietors, and real examples of how I use this strategy myself.

Whether you're exploring tax saving strategies for high income earners or just looking to reduce your S corporation taxes with smart tax planning strategies, the Augusta strategy is one of the most overlooked strategies available.

Episode 46. Inventory Tax Strategy

Fri, 23 Jan 2026 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If you're an S corporation owner with inventory, you could be missing out on a MASSIVE tax deduction. Most business owners don't know this, but the Tax Cuts and Jobs Act created a loophole that lets you deduct 100% of your inventory - even the stuff you haven't sold yet. Your accountant probably isn't telling you about this.

Here's how the old rules worked: You buy $100,000 in inventory, sell $30,000 worth, and you're stuck with a $70,000 ending inventory you CAN'T deduct. You only got to write off the $30,000 you actually sold. That's the old Section 471 rules that most CPAs are still following.

But here's what changed: If your gross receipts are under $31 million (which makes you a "small business" in the IRS's eyes), you can now elect the non-AFS Section 471(c) method and deduct your ENTIRE inventory purchase immediately. That same $100,000 in inventory? 100% deductible. Even if $70,000 is still sitting in your warehouse.

The secret is Form 3115 - a change in accounting method form. You file it with your tax return, IRS automatically approves it, and boom - you unlock this deduction. No waiting. No back and forth with the IRS.

Want to know exactly how much you're missing? Pull up your last tax return, find Form 1125-A, and look at line 7. That's your ending inventory - money you couldn't deduct before but CAN deduct now using this strategy.

🆓 Download FREE PDF: 7 Tax Strategies Every Business Owner MUST Know - https://www.7taxwriteoffs.com/?utm_source=podcast&utm_medium=inventorytaxstrategy

Episode 45. How to Hire Your Spouse Tax Strategy

Fri, 03 Oct 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Today I reveal the hiring your spouse tax strategy that means my client is estimated to save $338,000 in taxes. Most business owners are doing this completely wrong - either overpaying their spouse and crushing themselves with payroll taxes, or missing out on massive tax deductions by not structuring it correctly. In this podcast, I'll show you exactly how to hire your spouse on payroll, what to pay them, what NOT to pay them, and the critical tax mistakes that could trigger an IRS audit.

Here's what most business owners get wrong about hiring their spouse. They think throwing their spouse on payroll automatically saves taxes, but without proper tax planning, you're just creating unnecessary payroll taxes. Your spouse needs to actually work in the business and get paid a reasonable wage for their actual job - not some inflated salary that raises red flags. I see business owners overpaying their non-working spouse thinking they're being smart, when they're actually overpaying tens of thousands in Social Security and Medicare taxes for zero benefit.

We’ll debunk the biggest tax myths about such a tax strategy. Hiring your spouse just to maximize Social Security benefits? Usually a terrible idea that costs more taxes than it saves. The real power comes from understanding when hiring your spouse makes sense and when it doesn't. Sometimes the best tax strategy is NOT hiring them at all, which is exactly what we determined for that client who's estimated to save $338,000 on taxes.

If your spouse naturally works in your business or you're considering bringing them on, this video shows you the right way to structure it for maximum tax savings while staying completely compliant with IRS regulations. Work with a qualified tax advisor before implementing any spouse employment strategy to make sure it fits your specific tax situation.

Episode 44. Year End Charitable Donation Tax Strategies

Fri, 26 Sep 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

In this year-end tax planning podcast, I cover two powerful charitable donation tax strategies that wealthy individuals use to reduce their tax liability by hundreds of thousands of dollars. If you're facing a big tax bill this year or want to implement proactive tax planning strategies before December 31st, this podcast tells you exactly how to use charitable donation strategies.

First, let's talk about the Donor Advised Fund (DAF) strategy. Forget the noise about opening your own foundation or nonprofit - I'll show you the SIMPLE way to get massive tax deductions. A Donor Advised Fund is like a bank account specifically for charitable donations that you control. Every dollar you put in can become a tax deduction on your personal tax return, and you decide how the money gets invested while it grows tax-free. Cash contributions are limited to 60% of your adjusted gross income, but that's still massive tax savings. Plus, with the new tax law, you can now deduct $1,000 if you're a single filer and $2,000 if you're married filing joint, even if you don't itemize.

The second tax strategy is appreciated stock donations, and this is where it gets really interesting. Why sell your winning stocks and pay capital gains tax when you can donate them instead? I break down how donating appreciated stocks, crypto like Bitcoin and Ethereum, or even artwork can get you a full fair market value deduction WITHOUT paying any capital gains tax. This is exactly how some wealthy individuals donate artwork - they buy art, get it appraised, and donate it for a tax deduction. The same tax strategy can potentially apply to Bitcoin, Ethereum, and any appreciated asset you've held over 12 months.

These donation tax deductions require itemizing on your tax return, so work with a qualified tax advisor to maximize your year-end tax strategies and ensure compliance with IRS regulations. If you need a year-end tax strategy, Donor Advised Funds combined with appreciated stock donations are the way to go. Just make sure you're not trying to be your own donor or opening foundations without a real purpose - that's when you can run into IRS issues.

Episode 43. $1 Million S-Corp Tax Strategy

Fri, 19 Sep 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If you're an S-Corporation owner making over $1 MILLION and you're still using the same tax preparer you started with... you're probably overpaying by six figures.

Let's talk about the BIGGEST salary mistake million-dollar S-Corporation owners make that's costing them hundreds of thousands in unnecessary taxes. Spoiler: If you're taking your entire profit as W-2 salary because your accountant told you to "be conservative," you're literally doing the opposite of why S-Corporations exist.

Here's what we're diving into: The #1 reason you became an S-Corporation was to AVOID self-employment tax — so why are business owners at the $1M+ level still paying themselves massive W-2 salaries? I'll explain why you have to split between salary and distributions when you're making seven figures, and yes, it's completely legal when done right.

We expose why taking everything as salary is the WORST tax strategy at this income level. Your accountant most probably does not understand how PTET and QBI deductions completely change the game for high earners. These tax strategies alone can save you hundreds of thousands of dollars on taxes.

The harsh truth is you've OUTGROWN your accountant. You need a tax ADVISOR, not just a tax preparer. There's a massive difference, and I'll explain why most million-dollar business owners are getting terrible tax advice.

Advanced tax strategies we cover: How to LEGALLY reduce that ugly tax bill that hits every April. You know, when your accountant says "congratulations on a great year... here's your $300,000 tax bill." The more you make, the more you pay? Not if you know these tax strategies.

For those with million-dollar homes and home offices, the IRS actually WANTS you to take these tax deductions. I'll walk through the Augusta Rule, home office deductions, because you should be maximizing every square foot of your property for tax savings.

The retirement tax strategy section is CRUCIAL: Solo 401(k)s are just the beginning. At this income level, you should be looking at defined benefit plans that let you sock away hundreds of thousands annually in tax-deductible retirement contributions. Yeah, you read that right.

Stop letting CPAs who don't understand seven-figure tax planning cost you hundreds of thousands in taxes. This podcast covers exactly what questions to ask and what tax strategies to demand.

Because here's the truth: At $1M+, the difference between good and great tax strategy is literally a six-figure swing. Every. Single. Year.

Episode 42. Intercompany Transfers Tax Strategies

Fri, 12 Sep 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If you're moving money between your S Corporation and LLC, you need to know these intercompany transfer tax strategies. In this podcast, I explain the right way to transfer funds from your S Corporation to fund real estate investments, new businesses, or other ventures without triggering unnecessary tax consequences.

Most CPAs give terrible tax advice about intercompany transfers, telling business owners to transfer money directly from S Corporation to LLC without proper documentation. This creates massive tax problems including mismatched distributions, lost equity basis, and inability to deduct losses. I break down exactly how to structure intercompany transfers, shareholder distributions, and capital contributions to maximize tax deductions and avoid IRS issues.

What You'll Learn: How to properly take S Corporation distributions and use them to fund other businesses. Why you should NEVER buy real estate directly with S Corporation money or put property under your S Corporation. The critical difference between shareholder distributions and intercompany loans for tax purposes. How to establish equity basis in your new LLC to make losses tax deductible against your main business income. Why proper documentation of intercompany transfers as shareholder distributions is essential for tax strategy. When intercompany loans make sense versus capital contributions for funding new ventures.

We cover S Corporation distribution tax strategies, LLC formation and funding, establishing basis for loss deductions, and the tax consequences of intercompany loans versus equity contributions. Plus, why most small business owners under $10 million profit should be S Corporations, and how to structure multiple entities for maximum tax savings.

Stop making expensive intercompany transfer mistakes. Learn the right way to move money between your businesses while maximizing tax deductions and avoiding IRS problems.

Episode 41. Real Estate Investing Tax Strategies

Fri, 05 Sep 2025 15:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Did your accountant tell you to "just buy real estate and do cost segregation" to save on taxes? Then they're giving you incomplete real estate tax advice. In this podcast, I explain why buying rental property and doing cost segregation won't actually save you money on taxes without the right real estate investment tax strategy.

Here's what happens to business owners and entrepreneurs: You hit six figures in ordinary income, your accountant says buy real estate for tax benefits. So you purchase investment property, do cost segregation accelerated depreciation that lets you write off some of the purchase price through bonus depreciation. Sounds great, except those real estate losses are passive losses. Your business income is ordinary income. Passive activity losses can't offset ordinary income unless you qualify for real estate professional status, short term rental strategy, or self rental strategy. Your accountant probably didn't mention passive vs ordinary income rules.

I break down how to convert passive losses to active losses through real estate professional tax status including 500 hours material participation test and how to qualify your spouse as real estate professional. I also cover short term rental tax strategy for properties that meet IRS definition like Airbnb, plus self rental tax requirements when renting to your own business. I explain why you should never buy real estate in S Corporation and how becoming a passive partner in deals helps accelerate real estate tax deductions when you start buying properties.

Bonus depreciation 2025 is back making cost segregation depreciation and real estate depreciation more powerful for real estate investing tax benefits. No more falling for the "just buy real estate" lie when there's so much more to making rental property tax strategies and investment property tax deductions actually work for your situation.

Episode 40. S-Corporation Distributions vs. W-2 Salary

Fri, 29 Aug 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If your accountant is telling you to max out your W-2 salary and avoid distributions, they're literally costing you thousands in unnecessary taxes.

In this podcast I’m breaking down why taking high S Corporation distributions compared to your W-2 salary is the smartest tax planning move for business owners in 2025. Most CPAs and tax preparers get this backwards, telling you to increase W-2 wages while avoiding S Corporations distributions entirely.

The REAL reason S Corporations exist (hint: it's to REDUCE self-employment tax and payroll taxes, not increase your W-2 salary). I break down S Corp taxation, pass-through entity taxation, how to avoid double taxation, and why maximizing W-2 wages destroys your tax savings.

I share a real client example where his accountant told him to take everything as W-2 salary. This terrible advice would've cost him the Pass-Through Entity Tax (PTET) deduction, state tax deductions, and tens of thousands in unnecessary taxes, Social Security tax, and Medicare tax.

We also cover the additional tax strategies you can use when you structure your S-Corporation distributions properly. You can open doors to tax deductions your high W-2 salary is currently blocking. Plus, I'll tell you exactly what to do before year-end so you can start saving money on taxes immediately. No more overpaying because someone gave you backwards advice about W-2 vs distributions.

Episode 39. Dentist Salary vs Distribution

Fri, 22 Aug 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If you're a dentist making over a million dollars and you are NOT working with a Tax Advisor, you're definitely overpaying in taxes.

In this podcast with my wife Marianna, we're breaking down the EXACT tax strategies I use with my dental clients to slash their tax bills by hundreds of thousands of dollars. 🤑

Everyone in America wants to form an LLC but has NO IDEA how flexible they actually are (especially you busy dentists who barely have time to think about these tax strategies). We explain how your LLC can elect to file as an S-Corporation and why this one tax move alone can save you a fortune.

We also cover one of my favorite tax strategies...using real estate to create massive tax deductions. I'll show you what it means to be a "real estate professional" in the IRS's eyes. Marianna calls me out for making it sound "too simple" (she's my wife, so of course she does lol), but honestly? It IS that straightforward when you are working with a Tax Advisor. 🤝

Plus, we cover the retirement tax strategy my clients use when they come to me saying they want to write off something "BIIIIIIG" — and trust me, we're not talking about your basic 401k here (more like defined benefit plans for dentists that create huge tax deductions).

Oh, and that salary vs. distribution split most dentists get wrong? Yeah, we talk about what happens when you mess that strategy up. Spoiler: You either get penalized by the IRS or pay a LOT more taxes than you need to. Neither option is fun.

If you're tired of working hard just to hand half of it to the IRS, this is the video for you.

Episode 38. Use Trusts to Pass Down Wealth Tax-Free

Fri, 11 Jul 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Most business owners have no idea how to use the lifetime estate tax exemption — or that it even exists. Right now, the IRS allows you to gift up to $14 million tax-free during your lifetime, but very few entrepreneurs or high-net-worth individuals know how to take advantage of this powerful tax strategy for their wealth.

In this podcast, I explain exactly what the federal estate tax is, how the gift and estate tax exemption works, and why failing to act now could cost your heirs millions. We’ll cover how to strategically use the $14 million estate tax exemption to transfer real estate, business assets, or investment portfolios to your children, family, or loved ones — all without triggering gift taxes or unnecessary IRS scrutiny.

I’m also breaking down how irrevocable trusts and dynasty trusts work, and how they can be used to create a rock-solid estate plan. You’ll learn how trusts reduce estate taxes, protect your wealth, avoid probate, and keep your financial affairs private.

If you're a business owner with appreciating assets, income-producing properties, or a profitable company, this is critical knowledge. You’ve worked hard to build wealth — now it’s time to learn how to pass it down tax-free using proactive estate tax planning and advanced trust strategies.

This podcast is for business owners looking to understand estate planning, federal estate taxes, and how to use trusts to protect generational wealth the smart way. Whether you're planning for retirement, thinking about business succession, or just want to stop overpaying in taxes, you’ll find actionable insights here.

Episode 37. Owner Payroll Tax

Fri, 13 Jun 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If you’re a small business owner with an S Corporation, the way you pay yourself can make or break your tax bill. Most business owners overpay payroll taxes because no one ever showed them the right tax strategy. They treat owner payroll like a checkbox which is a big mistake. Your payroll is a tax planning weapon if you know how to use it.

In this podcast, I’m breaking down exactly how to pay yourself as a business owner, how payroll taxes really work inside an S Corporation, and what you need to do right now to lower your self-employment tax legally. These tax strategies are what your CPA probably isn’t telling you.

We’ll cover payroll tax strategy, how to determine a reasonable salary, and how to avoid red flags with the IRS. If you're married and running a business, there are major tax benefits to putting your spouse on payroll. Get this wrong, and you’re either wasting money or triggering problems with IRS payroll compliance. Get it right, and you unlock additional tax deductions, retirement contributions, and even better healthcare options.

And if you’re listening to this before year-end, I’ll walk you through key tax planning tips you need to make before December 31st. Because once the calendar flips, your options disappear and your tax bill is locked in. This is the payroll tax strategy every small business owner needs to understand. If you're serious about reducing payroll tax, increasing your tax deductions, and staying IRS-compliant, start by listening to this podcast.

Episode 36. Beach Home Tax Strategy

Fri, 06 Jun 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Do you want to buy a vacation home and write it off on your taxes? Whether it's a beach house, ski cabin, or a lakeside condo, the real question isn’t can you deduct it — it’s how to write it off as a legitimate business expense.

In this podcast, I reveal one of the most underused IRS-approved tax strategies: turning your personal vacation home into an employee entertainment facility that’s 100% tax deductible. Yes — your dream property could become a fully tax deductible business asset if you structure it the right way.

I walk you through the IRS guidelines and show you exactly what steps to follow so your beach house qualifies as a tax deduction, not a personal expense. If you’re looking for tax strategies and ways to save money on business taxes, this is one videos you don’t want to miss.

Episode 35. 5 Trump Tax Changes for Business Owners

Fri, 30 May 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Are you a business owner trying to stay ahead of the curve on the latest tax laws? President Trump’s new tax reform has just passed the House, and it brings some game-changing tax updates that will affect how business owners pay taxes moving forward. If you’re not up to date, you could be missing out on massive tax savings, or worse, get caught unprepared.

In this podcast, I break down the 5 key changes every business owner needs to know. From overtime pay becoming tax-free, to the QBI deduction increasing to 23% (but watch out if you’re a doctor, attorney, or accountant), these shifts could seriously impact your tax strategy. I also explain how bonus depreciation is making a comeback, why the PTET strategy is evolving, and how the R&D credit is finally getting its full power back.

Bottom line: If you’re not updating your tax strategy now, you’re either leaving money on the table or walking into a problem you could’ve avoided.

Listen to this before your CPA shrugs and says, “Let’s look at that next year.”

Episode 34. Tax Strategies for Attorneys

Fri, 23 May 2025 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

If you're a law firm owner or practicing attorney, this tax strategy breakdown is a must for you. Learn how using reasonable compensation can keep your S-Corporation compliant while reducing unnecessary payroll taxes. We also dive into how paying your spouse a salary can unlock powerful deductions and write offs for your business. Discover the benefits of the self rental strategy, a smart move that turns your office rent into a tax advantage. For those planning long-term wealth, the defined benefit retirement plan can be a game changer in your tax planning strategy. These advanced tax strategies are tailored specifically for legal professionals looking for smart tax savings. Owning a law firm means you're leaving money on the table if you're not optimizing these tools. Start building a smarter tax plan for your firm today.

Episode 33. LLC Tax Strategies

Thu, 27 Feb 2025 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

How can LLC owners pay less in taxes in 2025? This podcast breaks down key tax strategies, deductions, and tax savings opportunities for LLCs. Learn how retirement contributions, depreciation, hiring family, and optimizing your business structure can help you legally reduce your taxable income and keep more of your money. We’ll also cover business meal deductions, credit card strategies, and tax-efficient ways to structure your LLC for maximum savings. Understanding these LLC tax planning strategies is crucial for maximizing write-offs and lowering your tax burden. Plus, we’ll discuss how LLC vs. S-Corp election, Section 179 deductions, and bonus depreciation could impact your business. Don’t miss out on these valuable tax-saving tips.

Episode 32. Trump’s Tax Plan: How Business Owners Can Benefit

Thu, 20 Feb 2025 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

How will Trump's Tax Plan impact YOU; a profitable business owner and entrepreneur? This podcast breaks down key tax strategies, deductions, and tax savings opportunities under his proposed policies. Learn how bonus depreciation, cost segregation, vehicle loans, and research and development tax credits could help lower your tax bill. We’ll also cover Social Security benefits, no tax on tips, and how overtime pay affects reasonable compensation for S-Corporation owners. Understanding these tax planning strategies is crucial for maximizing write-offs and keeping more of your hard-earned money. Plus, we’ll discuss changes to corporate tax rates, pass-through income, and potential deductions that could benefit profitable businesses. Don’t miss out on these valuable insights!

Episode 31. Top 4 S-Corporation Tax Strategies

Thu, 13 Feb 2025 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Save money on taxes in 2025 with these top S-Corporation tax strategies! If you're a business owner, using the right tax planning techniques can help you reduce your tax liability, increase deductions, and keep more money in your pocket. Learn how the PTET tax can reduce your state tax burden and how to use reimbursements like the home office deduction and the Augusta Rule to lower taxable income.

Take advantage of retirement contributions to build wealth while cutting taxes. Set up a Family Management Company to shift income and create legal tax savings. Don’t overlook the auto deduction—write off business vehicle expenses the right way. These tax planning strategies help S-Corp owners keep more profits and stay IRS-compliant. You can implement these tax-saving strategies for your S-Corp in 2025!

Episode 30. Backdoor ROTH IRA Tax Strategy

Thu, 06 Feb 2025 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Discover how the Backdoor Roth IRA strategy can help high-income earners enjoy tax-free growth and withdrawals in retirement. In this podcast, we’ll break down how the Backdoor Roth IRA works, why it’s a powerful tax planning tool, and how it benefits business owners and self-employed individuals. Whether you’re focused on tax-free growth, long-term savings, or advanced retirement planning, this approach is a game-changer for entrepreneurs and high-income professionals alike.

Episode 29. Pass-Through Entity Taxation Strategy

Thu, 30 Jan 2025 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Discover how the 2025 Pass-Through Entity Tax (PTET) strategy can help business owners maximize tax savings and reduce their tax liabilities. In this podcast, we’ll break down how PTET works, why it’s a powerful tax planning tool, and how it benefits S-Corporation owners and other pass-through entities. Learn how to leverage state-level tax deductions and create effective strategies for your business to save thousands on taxes. Whether you’re focused on deductions, write-offs, or advanced tax planning, this approach is a game-changer for entrepreneurs and small business owners alike. Don’t miss these actionable tax strategies that can make a real difference in your bottom line. Stay ahead in 2025 and take control of your taxes today!

Episode 28. ROTH IRA For Kids

Thu, 23 Jan 2025 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Leverage the power of Roth IRAs for kids and discover how business owners can build an estimated $2 million in tax-free income for their children. This smart tax strategy allows you to combine family financial planning with incredible tax savings. Learn how to use your business to fund Roth IRAs for your kids, take advantage of legal deductions and write-offs, and set them up for a lifetime of financial success.

With strategic tax planning, you can turn your income into a legacy while reducing your tax burden. Don't miss out on this powerful way to build wealth for your family and save money on taxes today!

Episode 27. Write off Personal Car in S-Corporation

Thu, 21 Nov 2024 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Did you know you can write off your personal car as a business expense? Many business owners miss out on this deduction because their accountants don’t suggest it, or they aren’t aware of the benefits. In this podcast, I’ll break down step-by-step how you can claim your personal car as a tax write-off through your S-Corporation.

Episode 26. Best LLC Tax Strategy

Thu, 14 Nov 2024 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Are you a business owner navigating the complexities of LLC taxes and wondering how to maximize your tax benefits this year? In my latest podcast, I dive deep into the world of Limited Liability Companies (LLCs) and unlock the secrets to leveraging your LLC for incredible tax advantages.

As an entrepreneur, choosing the right entity structure for your business is crucial, and an LLC offers unique opportunities for tax savings. But how do you make the most of these opportunities? That's exactly what we'll explore together.

Episode 25. How RICH Avoid Capital Gain Taxes

Thu, 07 Nov 2024 14:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Ever wonder how the wealthy pay so little in capital gains taxes while continuing to grow their wealth? In this podcast, we cover the top strategies they use and how you, as a business owner, can apply these SAME techniques to lower your taxes.

Find out why banks are so eager to lend large sums of money to high-net-worth individuals, allowing them to build even more wealth while paying less in taxes. You don’t need to be a billionaire to take advantage of this video—learn how you can keep more of your money!

Episode 24. Solo 401(k) Tax Strategy for S-Corporation Owners

Thu, 31 Oct 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

In this podcast, we're diving into the Solo 401(k) — what it is, who it’s for, and why you should care. Whether you own a sole proprietorship, run an LLC, or have an S-Corp, you'll learn how to make a Solo 401(k) work for you.

Plus, discover how to grow your money tax-free! If you’re self-employed or running your own business, this podcast is packed with tips to help you save big and keep more of your hard-earned cash.

Episode 23. Sell Your Home to S-Corporation

Thu, 10 Oct 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Looking to sell your home to your S-Corporation? Discover how this powerful tax strategy can help you maximize deductions, reduce capital gains, and unlock significant tax savings. We’ll dive into the benefits of depreciation and how to leverage write-offs to lower your taxable income. Learn the key steps to ensure a smooth transaction and minimize any potential tax liabilities. This podcast is a must-watch for business owners and real estate investors looking to optimize their tax planning and take advantage of the unique opportunities S-Corporations offer.

Episode 22. Hidden S-Corporation Tax (DO NOT PAY THIS)

Thu, 26 Sep 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Discover the hidden taxes of S-Corporation and how to use a tax strategy NOT to pay the Net Investment Income Tax for an S-Corporation! This podcast explores powerful tax planning techniques that can reduce your net investment income tax. Learn from top tax advisors on how to effectively utilize tax write-offs, ensuring your business maximizes its savings. With these expert tax strategies, you can keep more money in your pocket and optimize your financial outcomes. Don't miss out on these crucial tips for smarter tax planning!

Episode 21. Retirement Tax Strategies for S-Corporation Owners

Thu, 19 Sep 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Discover the top 2024 retirement tax strategies tailored for S-Corporation owners. Learn how to maximize your savings with solo 401(k) and SEP IRA plans and understand how these tax strategies can benefit your S-Corporation or LLC. We'll dive into effective retirement planning techniques that not only help you save for the future but also optimize your tax deductions and write-offs. Don't miss out on essential tax planning advice designed to help you achieve your financial goals.

Episode 20. First Rental Tax Strategy Write-Off for S-Corporation Owners

Thu, 12 Sep 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Unlock the secrets to maximizing your tax savings with our first rental tax strategy for S-Corporation owners! In this podcast, we'll delve into how depreciation can be a powerful write-off, boosting your passive income and minimizing passive losses.

Discover the top deductions and write-offs available to you and learn how S-Corporation benefits can elevate your tax planning game. Whether you're new to rental properties or a seasoned investor, these tips will help you save more and keep more of your hard-earned money. Don't miss out on these essential tax strategies!

Episode 19. Top 5 2024 Tax Planning Strategies

Thu, 05 Sep 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

In this podcast, let's dive deep into the art of tax planning, revealing the top five strategies that have helped our clients achieve significant savings. From leveraging S-Corporation structures and understanding reasonable compensation to optimizing retirement planning, and unlocking tax-free cash, we cover it all.

Plus, learn about the power of the Pass-Through Entity Tax (PTET) and the benefits of S-Corp Health Insurance in your tax planning arsenal.

Episode 18. Don't Take Bonus Depreciation in 2024

Thu, 29 Aug 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

In 2024, navigating the complex landscape of tax strategies is more critical than ever, especially when it comes to bonus depreciation. In my latest deep-dive podcast, 'Don't Take Bonus Depreciation in 2024,' I uncover the essential insights and alternative strategies that every business owner needs to know to optimize their tax situation.

Episode 17. Your Bookkeeping Sucks Tax Strategy

Thu, 22 Aug 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Are you a profitable business owner paying more taxes than necessary? It's time to turn the tables with strategic bookkeeping, and I'm here to show you exactly how.

In this must podcast, I dive into the often-overlooked power of bookkeeping, not just as a means to keep your financial records straight, but as a critical tax-saving strategy every business owner should be utilizing.

Episode 16. Short Term Rental Tax Write Off Strategy For S-Corporation Owners

Thu, 15 Aug 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Discover how S-Corporation owners can maximize their tax savings with strategic write-offs on short-term rental properties. In this podcast, we dive into effective tax strategies to optimize rental income, focusing on key deductions and real estate tax planning.

Depreciation and cost segregation can significantly reduce your tax liability. We will explore the best practices for S-Corporations to leverage these tax benefits, ensuring you keep more of your hard-earned money. Don't miss out on these essential tips to enhance your tax strategy and boost your financial success with short-term rentals.

Episode 15. Payroll Tax Deduction Strategy

Thu, 08 Aug 2024 14:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Unlock the secrets to effective payroll tax deduction strategies for your business! In this podcast, we'll dive into advanced tax planning techniques that help business owners maximize tax savings. Discover how to leverage S-Corporation benefits, optimize deductions, and implement smart write-offs.

Stay ahead with proven payroll tax strategies designed to reduce your tax liability. Perfect for entrepreneurs and small business owners looking to boost their bottom line through effective tax management. Learn how proper tax planning can transform your tax savings. Don't miss out on these essential tips for significant tax savings and deductions.

Episode 14. Kevin Harrington Interviews Tax Strategist Boris Musheyev, CPA

Thu, 01 Aug 2024 15:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Boris Musheyev, CPA & Tax Strategist sits down with Kevin Harrington, original Shark Tank investor and infomercial pioneer, in this enlightening interview. Kevin interviews Boris about the importance of tax planning for business owners and why having a dedicated tax advisor is essential for your tax strategy and planning.

Kevin Harrington brings his vast experience in entrepreneurship and strategic investments to discuss the importance of being proactive rather than reactive with your tax strategies.

In this video, Boris Musheyev shares expert insights on how effective tax planning can significantly reduce your taxes, impact your business and personal finances. Discover practical tips and strategies for optimizing your tax situation and hear from Kevin on the pivotal role that proactive tax planning plays in successful entrepreneurship.

Whether you’re a business owner, individual investor, or simply looking to reduce your business taxes, this discussion between two seasoned experts will equip you with the knowledge to make informed tax decisions. Don't miss out on this opportunity to get ahead in your tax planning and secure your financial future.

Episode 13. Double Dip Charitable Tax Deductions Before Year End

Thu, 11 Jan 2024 12:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Are you looking to maximize your charitable contributions and gain significant tax benefits before the year ends and going forward? Look no further! In this episode, we uncover a powerful tax strategy involving appreciated stocks. Learn how donating stocks held for over 12 months can let you 'double dip' into tax deductions, allowing you not only to avoid reporting income from the stock's gain but also to claim a charitable tax deduction. We'll guide you through the nuances of this strategy, ensuring you leverage these benefits to their fullest.

🔍 What You'll Learn:

Appreciated Stock Donations:

Get an in-depth understanding of how donating appreciated stocks can lead to substantial tax benefits.

Avoid Capital Gains:

Learn how you can bypass the need to report income from the gains of your appreciated stocks.

Charitable Tax Deductions:

Explore how to claim a tax deduction for the full market value of the donated stock.

Strategic Timing:

Understand the importance of timing in maximizing your tax benefits before the year-end and going forward!

Episode 12. 5 Top Year End Tax Strategies

Wed, 03 Jan 2024 11:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

As the year rapidly approaches its close, it's time for business owners to gear up their tax planning.

This episode is crafted with insights directly from your peers - uncovering the rest of the top 5 tax strategies that every business owner should know as they wrap up the fiscal year.

What's Inside:
➡️Strategies for Buying a Business: Delve into the tax implications and advantages of acquiring a business. This strategy is particularly beneficial for entrepreneurs considering expansion or new ventures.
➡️Navigating Pass-Through Entity Taxation: A deep dive into the world of pass-through entity taxation. Discover how it affects your business and how to use it to your advantage, especially for S-corp and similar entity structures.
➡️Owner Health Insurance Tax Strategy: Uncover how to effectively leverage health insurance for significant tax savings. This strategy is a game-changer for business owners looking to optimize their expenses.
➡️S-Corp Owner Tax Strategy: Tailored advice for S-corp owners. Learn specific strategies to maximize your tax benefits and reduce liabilities as the year ends.

🚀 Take Your Tax Planning to the Next Level!
Whether you're a seasoned entrepreneur or newly venturing into the business world, these top 5 strategies are essential for your year-end tax planning. Get ahead of the game and ensure you're making the most of your financial decisions.

Episode 11. IRS Audits Augusta Rule and Wins

Wed, 27 Dec 2023 09:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

"Unpacking the Augusta Tax Strategy! 🏠💼 Dive into the recent development where IRS Audits Augusta Rules and Wins. The Augusta Tax Strategy has long been a favorite among property owners and business professionals. But what happens when the IRS challenges it?

Covered in this episode:

- A deep dive into the background of the Augusta Tax Strategy and its benefits.

- Insights into the IRS audit, the key arguments, and the final verdict.

- What this means for you: the implications, potential changes, and actionable advice.

Whether you're a seasoned real estate professional, a business owner, or just someone keen on tax-saving methods, this episode is a must listen. Understand the changes, protect your interests, and strategize better with our comprehensive breakdown.

Don't forget to hit the subscribe button for more in-depth analysis, updates, and strategies in the world of tax planning and financial management.

Episode 10. Using QSEHRA can save you money on Employee’s Health Insurance

Wed, 20 Dec 2023 13:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Using QSEHRA can save you money on Employee Health Insurance - Boris Musheyev, Tax Advisor

🩺✨ In this episode, we delve deep into how business owners can use Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) to save you money on Employee Health Insurance. This tax strategy is optimal for tax savings. If you're a business owner looking to navigate the complex world of health insurance and seeking strategies to maximize your tax benefits, you're in the right place. 📊💡

Discover:
🩺The advantages of QSEHRA over traditional group health plans.
🩺How to integrate QSEHRA seamlessly into your business model.
🩺The tax strategy every business owner should know to save thousands annually.

Episode 9. HUGE Tax Break For Self Rental Tax Strategy

Wed, 13 Dec 2023 11:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

🔒 Unlock the Vault of HUGE Tax Break For Self-Rental Tax Strategies!

Are you a business owner who also owns the building where your business operates?

Discover the untapped goldmine of self-rental tax strategy that can save you thousands! 🔒

This unique approach of Self Rental Tax Strategy allows business owners who also own the building in which their business operates to rent the business space to themselves, thus enjoying lucrative tax benefits. Whether your business is structured as an S-corp or any other entity, this strategy can bring forth a windfall of deductions and write-offs you won't want to miss.

🎯 What You Will Learn:

- What is Self-Rental and How It Works

- How to Strategically Utilize Depreciation to Minimize Tax Liability

- Navigating Rental Income, Deductions, and Write-offs

- The Relationship Between S-Corp Entities and Self-Rental Strategy

- Real-life Case Studies and Examples

Episode 8: MUST Have Family Management Company

Wed, 06 Dec 2023 11:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Are you a business owner looking to optimize your tax strategy? Dive into the benefits of setting up a Family Management Company! 🏡✍️

In this episode, I cover:
1️⃣ The fundamental principles behind a family management company and how it can be a game-changer for you.

2️⃣ Why hiring children can provide both tax write-offs and invaluable life experiences.

3️⃣ How to seamlessly integrate real estate investments within your family management framework.

4️⃣ The perks of incorporating as an s-corporation - all broken down for easy understanding.

5️⃣ Insider tips from top tax advisors on maximizing your tax benefits.

Episode 7. You NEED Cost Segregation Tax Strategy

Wed, 29 Nov 2023 10:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

ATTENTION: Rental real estate property and business owners!

Ever wished you were privy to insider investor strategies that could save you a great deal on taxes? Your prayers have been answered. This episode is a goldmine of tax-saving insights specifically designed for real estate investors. We examine a powerful tax strategy called cost segregation, exploring what it is, who qualifies, and why it isn't always utilized by accountants. We also delve deep into the concept of accelerated depreciation and how this can lead to sizeable tax deductions.

But it doesn't stop there. Beyond cost segregation, we also venture into the wider realm of tax planning and its relevance for individuals. Learn how smart tax planning, inclusive of cost segregation, can create losses from rental real estate properties and thereby reduce your tax liability. This episode is chock-full of actionable advice, resources, and the option to schedule a call for tax planning services. Don't miss out on this opportunity to learn from experts about maximizing your tax savings, all while ensuring you're in line with the law. Tune in and prepare to revolutionize your approach to tax planning.

Episode 6. START Claiming Your Rental Losses AGAINST Your Business Income

Wed, 22 Nov 2023 09:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Are you an S-Corporation owner with rental properties?

You can START Claiming Your Rental Losses AGAINST Your Business Income.

Listen in on this episode to understand how to smartly use passive losses from your rental properties against your business income. In the dynamic world of investing, harnessing passive income to balance passive losses is a game-changer. This episode offers a step-by-step strategy for S-Corp owners to maximize their investing advantages by leveraging rental losses.

Key takeaways:

✅ Navigate passive losses from rental properties for business owners
✅ Optimize passive income streams to counterbalance business income.
✅ Master the art of investing in rental properties for balanced financial outcomes.

Boost your investing prowess, refine your passive income strategies, and master S-Corporation advantages with this latest episode.

Episode 5. Hire Your Children for Profitable Tax Savings Strategy

Wed, 15 Nov 2023 09:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Imagine being able to legally employ your own kids in your business, and in the process, shift burdensome high tax brackets to a zero or low one. I promise, by the end of this episode, you'll understand every step of how this tax strategy works and how you can start implementing it in your business in less than 30 days. We'll break it down for you, whether you're a sole proprietor, part of an LLC, or an S corporation. And the best part? As long as your child earns up to $13,850, they won't owe a penny in income tax, while you, the business owner, gain a handsome tax deduction. Plus, did we mention that there are no payroll taxes for you, the parent-employer? It's a double win!

But wait, we're not stopping there. Let's take a step further and explore how you can partner with a tax advisor to further reduce your tax bill. Why work harder when you can work smarter, right? Unleash the power of proactive tax strategies with the help of an expert. We even have free resources to help you get started on your tax savings journey. Just subscribe to our podcast so you don't miss out on any upcoming tax strategies that could save you a fortune. Here's to keeping more of what you earn! So, get ready to take notes and let's dive into the world of tax savings!

Episode 4. S-Corp Owner Health Insurance Tax Strategy

Wed, 08 Nov 2023 09:00:00 -0500

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

In today's episode, we're going to dive into an insightful tax strategy S-Corp Owner Health Insurance Tax Strategy. Discover how to make the most of your health insurance premiums to optimize your tax deductions.

As an S-Corporation owner, you know that understanding tax nuances can be a game-changer for your financial success. But, with the often complex world of tax regulations, where do you start? Join us as we unfold an effective tax strategy focused solely on health insurance for S-Corporation owners.

Throughout the video, we unravel how you can leverage health insurance premiums to reduce your tax burden. From understanding the relationship between S-Corporations and health insurance to employing savvy tax strategies, I am covering it all! This is the kind of content that every S-Corporation owner and tax advisor should not miss.

Stay ahead of the curve and harness the power of strategic tax planning. Use this knowledge to ensure you're not leaving any potential deductions on the table.

Remember, it's not just about earning more, it's about retaining more of what you earn. And, with the right tax strategy in hand, you'll be well-equipped to do just that.

So, if you're an S-Corporation owner, tax advisor, or just curious about smart tax strategies, be sure to tune in!

Episode 3. Do NOT Pay Taxes on Owner Distributions

Wed, 01 Nov 2023 10:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

DO NOT pay taxes on Owner Distributions!

Uncover the secrets of tax planning with our detailed guide on the tax implications of owner distributions for sole proprietorships, S-corporations, C-corporations, and partnerships.

✅ Sole Proprietors: Learn how owner draws, a form of owner distributions, can be managed to optimize your tax strategy.
✅ S-Corporations & C-Corporations: Understand the unique tax scenarios of your distributions to maximize tax savings.
✅ Partnerships: Discover how owner distributions can be used in your tax planning strategy.

Optimize your tax planning and potentially turn your owner distributions into non-taxable income!

Remember to like, subscribe, and share for more insights on tax savings, tax strategy, and effective tax planning.

Episode 2. Never Explained Before Home Office Tax Deduction

Wed, 25 Oct 2023 10:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Is the home office deduction a cause for concern with the IRS?

Absolutely not, and I’m here to clear the air on that topic in this episode of the podcast.

Join me as we dive into the specifics of how you can fully leverage your home office deduction, whether you have an additional work location, a warehouse, or another office.

You can indeed work from the comfort of your home, comply with the IRS regulations for home office tax deductions, and secure a valuable write-off on your taxes.

Throughout this episode, I will walk you through the exact strategy to accomplish this, ensuring you have all the knowledge and tools at your disposal to maximize your savings.

If you've ever questioned the legitimacy of home office deductions or wondered how you can make the most of them, this is the episode you won't want to miss.

Resources from episode:

🆓 Click here to access Home Office Tax Deduction Resources:

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Episode 1. Welcome the Tax Reduction Podcast for Money Making Entrepreneurs

Tue, 17 Oct 2023 09:00:00 -0400

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started!

Hello, and welcome to the very first episode of The Tax Reduction Podcast for Money Making Entrepreneurs. I'm Boris Musheyev; your host, and I've spent years helping business owners and individuals save money on their taxes while staying on the right side of the law.

In today's episode, I want to talk to you about something that's really close to my heart: the importance of having a tax advisor. You see, I've seen far too many people pay more in taxes than they need to simply because they don't fully understand the tax code. It's a problem I'm determined to change.

This podcast is all about simplifying the complex world of taxes and empowering you to make informed financial decisions. Subscribe to The Tax Reduction Podcast today, and don't forget to share it with fellow business owners who could benefit from these valuable insights. You can also find free tax resources in the episode description. Stay tuned for more practical tax strategies in the episodes to come!