229: Tax Strategy for Your Boring W-2 Clients and Beyond

The Efficient Advisor: Tactical Business Advice for Financial Planners

When I was running my practice, I dreamed of having a tax professional who would do actual tax strategy. Like WAY MORE than just getting behind my Roth conversions or more traditional ideas like QCDs, but someone that could actually sit down with my clients and tell them if they should buy their car through their business, tell them what type of entity they should be, help my boring W-2 clients find clever ways to strategize to save tax dollars well in advance of tax season, figure out a way for them to deduct their Starbucks obsession (and she shares this story in this episode), or if doing an AirBnB makes sense for their lake house… you know what I’m talking about a TAX STRATEGIST… not just a CPA.

Enter, Shauna the Tax Goddess. Yes, that’s the name of her company and she’s known as the Tax Goddess because she is one of the most highly credentialed tax strategists in the United States.

In this episode, Shauna gives us a glimpse into the world of tax strategy and how they help advisors’ clients get creative and save boatloads of tax dollars without getting into the gray area of the tax code.

We get into:

• How having deeper conversations leads to unique tax savings opportunities
• How to turn a hobby into a potential business for your clients
• What the IRS considers reasonable… and Shauna shares an example that might floor you as it did me!
• How tax strategy differs from tax preparation and basic tax ideas

If nothing else, you will be entertained by this episode!

Schedule a time to learn more about The Tax Goddess and what they can do for your clients!

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Looking for all the resources from this episode? Check out this episode’s webpage for show notes, transcripts, downloads and more!

Luvut

1. Tax Strategy for Advisors (00:00:00)

2. Strategic Tax Planning for Advisors (00:03:38)

3. Exploring Tax Strategies Beyond the Norm (00:15:10)

4. Tax Deductions for Influencers (00:21:04)

5. Tax Strategies for Small Businesses (00:30:19)

6. Maximizing Efficiency Through Time Blocking (00:39:00)

7. LinkedIn Followers and Exciting Content (00:45:36)