Reducing Taxes as a Business Owner
About this episode
This episode discusses how business owners and side hustlers can leverage the tax code to maximize deductions and minimize taxes.
If you're a business owner, or a W-2 employee with a side hustle, the tax code has more working for you than you've been told. In this episode of the Hidden Money Podcast, Mike Pine and Kevin Schneider walk through the real mechanics of turning what you already do into legal, proactive tax strategy. From fishing boats and Cybertrucks to paying your kids and funding their Roth IRAs, this is a masterclass for anyone serious about keeping more of what they earn. Whether you're a full-time business owner, an Airbnb host, a hobbyist who charges people for what you love, or a W-2 earner with money sitting in a checking account: this episode shows you exactly how to put the tax code to work. What You'll Learn Why you probably already have a business and don't know it, like a hobby or side-hustle, and how it could unlock hundreds of deductions How bonus depreciation on vehicles over 6,000 lbs can generate massive first-year write-offs The 7-part material participation test (and why you only need to pass one) How to pay your children through your business, legally and tax-free How to fund your kids' Roth IRAs using wages your business deducts The hobby loss rule and how to protect…
More episodes of Hidden Money Podcast
- Golf Course PPA
- Golf Courses, Tax-Free Income, and the Syndication Strategy Your CPA Never Told You About
- Reducing Taxes as a W-2 Earner
- Defining Your Tax Beast
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