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Category: Podcast

How the Home Office Deduction Can Save You $1,500 a Year

What if the desk you’re sitting at right now could save you up to $1,500 a year in taxes? Most business owners skip this deduction because they think they don’t qualify, or they’re worried the IRS will come knocking.  The truth is, the home office deduction is legitimate, simple to calculate, and available to most […]

How Founders Sell Their Companies With $0 in Taxes | QSBS Explained

Imagine selling your startup for $15 million and paying nothing in federal taxes? This is what QSBS makes possible. For startup founders and early investors, the Qualified Small Business Stock (QSBS) can make the difference between paying millions or paying nothing at all. Let’s break down how QSBS works, the new changes in the law, and the mistakes […]

Independent Contractor or Employee? Hiring Mistakes That Trigger an IRS Audit

  Misclassifying workers is one of the biggest mistakes a business owner can make. It might seem cheaper to pay someone as a 1099 contractor, but if the IRS says they should be a W-2 employee, you’re looking at back taxes, penalties, and possible audits that could cripple your business. Let’s break down the IRS […]

Why the Wealthy Use Oil & Gas Investments to Cut Six Figures Off Their Taxes

  What if the money you’re about to send to the IRS could instead fund an income-producing investment? That’s exactly what oil and gas investing makes possible. Thanks to IRS Code Section 263(c), investors can claim massive upfront deductions while also generating long-term cash flow from production. This makes oil and gas one of the […]

Q&A | The Tax Strategy Hierarchy Every Small Business Owner Should Know

  When it comes to tax planning, not all strategies are created equal. Think of it like building a house. You start with a strong foundation before adding the more complex features. In tax planning, that foundation is made up of core tax strategies (simple, low-cost moves available to all business owners.) Only once these are fully […]

How Section 831(b) Captive Insurance Protects Your Business and Saves You Taxes

For most business owners, insurance is a cost of doing business. But with the Section 831(b) captive insurance election, it can also be a powerful tax strategy. A captive insurance company is essentially a private insurance company you own that insures risks your traditional policies won’t cover—such as supply chain disruptions, brand damage, cyber threats, […]

How to Choose the Right Retirement Account for Your Business

Most business owners want to do the right thing for their future: Save for retirement, lower their tax bill, and maybe even offer a benefit to employees along the way. But here’s the problem: many are using the wrong retirement plan. Some are overcomplicating things. Others are limiting themselves without even realizing it. And almost all are […]

Partnership vs. S Corp | How Basis Can Make or Break Your Tax Bill

A client took $35,000 out of their S Corporation, thinking it was tax-free.  Come tax season, they were hit with a $7,000 surprise capital gains bill. Why? Because no one was tracking something called basis.  Not them, not their bookkeeper, not even their accountant. This is not an uncommon mistake. When most small business owners choose […]

Mixing Passive and Active Income | Why Your Entity Structure Is Costing You Thousands

Don’t Mix Passive and Active Income Mixing active and passive income in one entity could be costing you thousands. Let’s break down why separating your income streams is essential. You’ll learn how to structure your business the right way using S Corps, LLCs, holding companies, and even C Corps to unlock advanced tax strategies. From hiring your […]