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.

🆓 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.

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.

🆓 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.

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.

🆓 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.

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.

🆓 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.

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.

🆓 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.

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.

🆓 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.

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.

🆓 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.

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

🆓 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.