E196: Advanced Tax Strategies for Your POD Business w/ Adam Schaeuble

Welcome back to the PODCast!

On this week's episode, Travis is joined by Adam Schaeuble from
Podcasting Business School and they delve into the realm of tax strategies that can reshape your business's future. Swapping printer ink for ink on tax forms, they unravel the complexities of the tax world with a sprinkle of humor and heaps of wisdom. Adam, who transformed from a fitness entrepreneur to a podcasting consultant, lays down his journey and invites you to join the ride towards financial acumen that transcends industries.

This isn't your average tax talk; it's a goldmine of actionable tips, starting with how an HSA can be your secret weapon for tax-free growth and a cushy retirement nest egg. Adam's HSA hack isn't just smart; it's borderline genius, allowing entrepreneurs to nurture their accounts into full-blown retirement funds. They then shift gears to retirement planning, blending the immediate perks of IRAs with the long-term benefits of solo 401ks. It's not just about saving; it's about strategizing for your golden years while the clock is still ticking in your favor.

Your business is a living, breathing entity, and with Adam's guidance, they show you how to breathe life into your tax savings. Discover how turning your home into a revenue-generating venue or engaging your children in the family business can lead to significant deductions, all while playing by the IRS's rules. By the end, you'll have a roadmap to tax planning that turns daunting IRS forms into doorways for financial opportunity. So, whether you're an S-Corp, Sole Proprietor, or just getting your entrepreneurial feet wet, this episode will equip you with the know-how to make taxes less taxing.

Enjoy the show!


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Other links from the show:
Episode 465: My Favorite Tax Planning Strategies for Online Business Owners
"Profit First" by Mike Michalowicz
Small Business Tax Savings Podcast

00:00:04 - Intro
00:01:50 - Adam Schaeuble of Podcasting Business School
00:03:18 - Weekly Dad Joke
00:05:36 - Adam's Business History
00:08:36 - Why Talk Taxes on a POD Show?
00:11:03 - Health Savings Accounts
00:18:57 - Traditional IRA
00:21:47 - Solo 401K
00:24:37 - S-Corp, LLC, or Sole Proprietor?
00:25:33 - The Augusta Rule
00:31:34 - Pay Your Children Tax Free
00:37:18 - Tax Prep vs. Tax Planning
00:39:20 - Wrapping Up

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