Teaching Millionaires

Teaching Millionaires is a podcast about personal finance, money management, saving and investing for retirement, and the journey to becoming financially independent. Hosted by Rich Smith, the show serves a community of lifelong learners helping them to understand how to become successful with their money.

I Called In "Sick" and Never Went Back to My 9-5 06/24/2025

I Called In "Sick" and Never Went Back to My 9-5 🚨 It was 7:27 AM and I was supposed to be at work in 42 minutes. Instead, I called in sick. Not flu-sick ... DONE-sick. After 18 years as a classroom teacher, I finally had my breaking point moment. This is the raw, unfiltered story of the morning I knew I could never go back to the 9-5 grind. My accountant hit me with news that changed everything: "You made more from YouTube than teaching this month." But even then, I was scared to make the leap. What would my coworkers think? What if I failed? Then my friend Corey said something that stopped me cold: "Your problem isn't that you're tired from work. It's that you're exhausted from not doing what you're supposed to be doing." If you've ever felt that nagging voice telling you there's something more out there, this story is for you. Sometimes the scariest leap is the one that leads you home to yourself. 👉 Join our private Facebook community: ⏱️ CHAPTERS: 00:00 The 7:27 AM Breaking Point 01:26 The System That Broke Me 02:52 My Accountant's Shocking Truth 04:36 The Conversation That Changed Everything 06:33 The Real Reason I Left Teaching 08:07 Your Kitchen Table Moment #entrepreneurship #9to5escape #entrepreneurlife ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/37092930

$50K Tax Credit 99% of Startups Miss (Get Yours Now) 06/20/2025

Why You Shouldn’t Pay Off Your Mortgage Early (Until You Hear This) 06/17/2025

Why You Shouldn’t Pay Off Your Mortgage Early (Until You Hear This) Should you pay off your mortgage early? I did it, but now I have a completely different perspective that could save you thousands. Most people think about opportunity cost wrong - here's what I wish I knew before making my choice. In this video, I share my personal mortgage payoff story and reveal the critical question every homeowner needs to ask: Are you actually investing the difference? Plus, my neighbor Miles taught me something that changed everything about mortgage strategy. 👉 Get a private invitation to our Teaching Millionaires community: ⏱️ CHAPTERS: 0:00 - My Mortgage Payoff Story & Why I Changed My Mind 1:05 - Miles' Challenge: Why Pay Off a 3% Loan? 2:10 - The Problem: Most People Don't Actually Invest 3:13 - My Accountant's Test: Are You Maxed Out? 5:11 - The Key: Only Keep Mortgage If You're Actually Investing 6:37 - Responsibility First, Strategy Second 8:13 - What I'd Do Buying a Home Today 9:18 - Share Your Story & Join Our Community #MortgagePayoff #RealEstate #FinancialFreedom ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/37026790

How To Save Millions For Your Family Before Dec 31st 06/13/2025

How a Fee Simple Donation Saved $160K in Taxes 06/10/2025

How a Fee Simple Donation Saved $160K in Taxes Luis was making $1.2 million annually but paying nearly $500K in taxes. Despite maxing out retirement accounts, he felt trapped by his tax bill. Then he discovered fee simple donation strategies. In this video, I break down exactly how fee simple donations work, the compliance requirements, and who qualifies. Luis used his savings to take a three-month sabbatical and start his dream business. This strategy is for high earners ($500K+) willing to invest in proper execution and full compliance. Not a loophole - just smart tax planning. 👉 Check if the Fee Simple Strategy is right for you: ⏱️ CHAPTERS: 0:00 - Luis's Tax Trap: $1.2M Income, $500K Tax Bill 1:32 - The $160K Solution: Fee Simple Donation Explained 3:03 - How Fee Simple Donation Actually Works 4:37 - The Numbers: $100K Investment = $400K Deduction 6:06 - Who Qualifies & Why Execution Matters 7:53 - How to Properly Vet This Strategy 8:51 - Next Steps & Timing Considerations #TaxStrategy #FeeSimple #FeeSimpleDonation ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36927210

The 5 Levels of Tax Write-Offs (You’re Probably Missing Levels 4 & 5) 06/06/2025

The 5 Levels of Tax Write-Offs (You’re Probably Missing Levels 4 & 5) You're probably missing Levels 4 & 5 of tax write-offs - and that's where the biggest savings are hiding. Most business owners only use 40% of available deductions because they stop at Level 2. In this video, I reveal all 5 levels of tax strategy that could save you tens of thousands annually. The tax code wasn't designed to punish entrepreneurs - it was built to reward business owners who know how to play the game. From basic office deductions to advanced entity structures and R&D credits, each level unlocks strategies that W2 employees simply can't access. Whether you're just starting out or scaling to six figures, mastering these levels is the difference between paying too much in taxes and keeping more of what you earn to reinvest in your business or build generational wealth. 📊 Free Resources: Download my Tax Write-Offs Strategy Guide covering all 5 levels: ⏱️ CHAPTERS: 0:00 - Why Most Business Owners Miss 60% of Write-Offs 1:02 - Level 1 & 2: Basic Deductions and Travel 4:08 - Level 3: Home Office & Family Hiring 5:07 - Level 4: Entity Strategy Game Changer 6:35 - Level 5: Advanced Pro Strategies 7:33 - Income Breakdown & Tax Code Philosophy 9:02 - Personal Success Story & Results 10:01 - Free Resources & Next Steps #TaxWriteOffs #BusinessDeductions #AdvancedTaxStrategy ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36892355

$40,000 Pool Deduction: Weirdest Write-Off I've Ever Seen 06/03/2025

Missed This $500K Deduction? (179D Tax Strategy Explained) 05/30/2025

The Charity Tax Loophole That Saves High Earners $500K+ 05/27/2025

The Charity Tax Loophole That Saves High Earners $500K+ There's a charity tax loophole that high earners are using to save $500K+ while building generational wealth - and most people have never heard of it. My client Sunni used this exact strategy to potentially save hundreds of thousands in taxes, and I'm breaking down exactly how it works. The OCLAT (Optimized Charitable Annuity Trust) Strategy Revealed: ✅ How this charity "loophole" can cut your tax bill by 40-60% ✅ The "1-3-5 rule": Put in $1M, give $3M to charity, get $5M back to family ✅ Why high earners who act early save the most (timing is everything) 👉 Check if the OCLAT is right for you: ⏱️ CHAPTERS: 00:00 - Client Wins at Taxes 01:33 - The Seven-Figure Tax Problem 02:32 - The OCLAT Loophole Revealed 04:17 - Real Examples: $500K+ Savings 05:45 - Why This Goes Beyond Charity 07:48 - Who Qualifies for $500K+ Savings 08:52 - How to Get Started #CharityTaxLoophole #HighEarnerTaxStrategy #OCLAT #TaxSavings ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36693705

The Government Pays You For Home Upgrades? 45L Tax Credit EXPLAINED 05/23/2025

The Government Pays You For Home Upgrades? 45L Tax Credit EXPLAINED Discover how the government will literally PAY YOU to make energy-efficient upgrades to your properties through the Section 45L tax credit. In this video, I reveal how my friend Zach accidentally qualified for $25,000 in tax credits on his 10-unit building - and how YOU can claim up to $5,000 PER UNIT on your projects! 🏠 This isn't just for big developers - it works for: - New construction projects - Major renovations and rehabs - Single-family AND multi-family properties - Properties that meet basic energy efficiency standards Thanks to the Inflation Reduction Act, this incredible tax benefit is extended through 2032 with even BIGGER benefits than before! 💰 FREE 45L ELIGIBILITY CHECK: ⏱️ CHAPTERS: 00:00 - Government Pays You To Invest In Real Estate 01:35 - The Hidden $5,000 Per Unit Tax Credit 02:35 - Section 45L Tax Credit Explained 04:15 - Tax Credits vs. Deductions: Real Numbers 05:44 - Qualification Requirements Breakdown 07:19 - Which Improvements Actually Qualify 08:22 - Using Tax Savings For Future Projects #TaxCredits #Section45L #RealEstateInvesting ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36681165

Tech Millionaire Tax Trick: How to Save $175K Legally 05/20/2025

Tech Millionaire Tax Trick: How to Save $175K Legally How high-income tech professionals legally reduce their tax burden by moving from defense to offense. Learn the Level 4 tax strategies that helped a tech couple save $175,000 in taxes in just one year without breaking any rules. In this video, I share the story of Sunni, a tech professional making seven figures along with his wife, who was paying over 50% in taxes despite doing everything "right." I reveal two powerful, legal strategies that helped him save $175K in taxes: Land Conservation Easements and Optimized Charitable Lead Annuity Trusts (OCLATs). If you're earning over $500K and feel trapped by high taxes, discover how to use the same tax code that benefits the ultra-wealthy to your advantage. This isn't about offshore accounts or sketchy loopholes – it's about understanding how the tax system is designed to reward certain behaviors. 🔽 FREE RESOURCES 🔽 📘 Download my Tax Playbook: 📗 Land Conservation Guide: ⏱️ CHAPTERS: 00:00 Losing Half Your Income to Taxes 01:34 The Four Levels of Tax Planning Explained 02:35 Land Conservation Easements & OCLATs Explained 04:13 Tax Avoidance vs. Tax Planning: The Big Difference 05:49 From Skepticism to $175K in Savings: Sunni's Journey 07:18 Breaking the High-Income Tax Treadmill 08:50 Your Roadmap to Level 4 Tax Planning #TaxStrategy #WealthBuilding #TechMoney #TaxPlanning ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36629375

IRS Rule: Pay Your Kids Tax-Free (Legal Business Hack) 05/16/2025

IRS Rule: Pay Your Kids Tax-Free (Legal Business Hack) 🔥 TAX HACK ALERT: The IRS actually allows business owners to pay their kids tax-free when done correctly. In this video, I break down the exact strategy my accountant Jeff taught me about legally hiring your children, saving thousands in taxes, and building generational wealth. 👶 Learn how to: - Pay your kids through your business (tax-free under certain conditions) - Deduct their wages as legitimate business expenses - Set up Roth IRAs for their future millionaire status - Avoid costly audit triggers that most parents miss 💰 **RESOURCES MENTIONED:** - Gusto Payroll Services: ⏱️ CHAPTERS: 00:00 The tax-free strategy revelation 01:25 How the tax exemption works financially 02:25 Age-appropriate jobs for kids in your business 04:20 Three critical IRS rules to follow 06:18 Roth IRA advantages and compound interest 07:16 Balancing money lessons with childhood 08:30 Building generational wealth beyond taxes 08:58 Recommended payroll services 09:24 Next week preview & final thoughts #TaxStrategy #FamilyBusiness #FinancialLiteracy #HireYourKids #GenerationalWealth ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36584880

$22,000 Solo 401(k) Secret Advisors Won't Share 05/13/2025

$22,000 Solo 401(k) Secret Advisors Won't Share I discovered a retirement strategy that saved me $22,000 in taxes in ONE YEAR, and most financial advisors won't tell entrepreneurs about it. In this video, I reveal exactly how switching from a SEP IRA to a Solo 401(k) can potentially TRIPLE your tax-advantaged retirement contributions. Perfect for freelancers, consultants, small business owners, and side hustlers with no full-time employees. ⏱️ CHAPTERS: 00:00 - How I Saved $22,000 on Taxes 00:53 - My Conversation with Ashley the Yoga Studio Owner 02:33 - SEP IRA vs Solo 401(k): The Key Difference 03:53 - Income Examples: Why This Works for All Entrepreneurs 05:17 - The Compound Growth Advantage 06:34 - Is a Solo 401(k) Right for You? 08:32 - Taking Action: December 31st Deadline 🔑 KEY POINTS: - SEP IRAs limit you to 20% of net income - Solo 401(k)s let you contribute as BOTH employer AND employee - Current Solo 401(k) contribution limit: up to $70,000 - Extra catch-up contributions available for those over 50 - Must establish plan by December 31st to claim this year's tax break - Works for all self-employed individuals (no employees except spouse) 🔽 FREE RESOURCES: Download my Solo 401(k) Guide: https://pages.teachingmillionaires.com/sep-vs-solo401k #Solo401k #TaxStrategy #EntrepreneurFinance #RetirementPlanning ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: https://teachingmillionaires.com/youtube-subscribe 📱 Follow on Instagram: https://teachingmillionaires.com/instagram ✖️ X: https://teachingmillionaires.com/twitter 📘 Facebook: https://teachingmillionaires.com/fbgroup 🌐 Website: https://teachingmillionaires.com 🎧 Apple Podcasts - https://teachingmillionaires.com/apple-podcast 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36542165

$50K Tax Savings Most Landlords Miss (Cost Segregation) 05/09/2025

$50K Tax Savings Most Landlords Miss (Cost Segregation) This hidden tax strategy could save real estate investors $50,000+ in taxes WITHOUT renovating their properties. My friend Greg almost missed out on $47,000 in tax savings because his CPA never told him about cost segregation. Learn how to: ✅ Legally accelerate depreciation on rental properties ✅ Reclassify components to 5, 7, and 15-year schedules instead of 27.5 years ✅ Apply this to properties you ALREADY own ✅ Use tax savings to fund your next property purchase Most accountants never tell clients about this IRS-approved strategy that wealthy real estate investors have used for decades. Don't leave your money on the table! 🔽 LEARN MORE: Discover if Cost Segregation can save you thousands in taxes - we'll review your property details and show you how to maximize your tax savings 👇 ⏱️ CHAPTERS: 00:00 The $50K mistake most landlords make 00:26 No renovations needed to unlock tax savings 00:49 Why most CPAs don't tell clients about this strategy 02:56 Cost segregation: The hidden tax strategy explained 04:26 How to unlock hidden deductions in properties you already own 05:07 Breaking down the $50K savings calculation 06:22 Who can benefit from this strategy (not just tycoons) 08:32 Documentation tips and bonus depreciation benefits #realestateinvesting #taxstrategy #costsegregation ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36489830

How One Credit Card Gets Us $7,500 in Free Family Vacations Every Year 05/06/2025

How One Credit Card Gets Us $7,500 in Free Family Vacations Every Year Discover how my family enjoys luxury all-inclusive beach vacations worth $7,500+ completely FREE every year using a simple credit card strategy that anyone can use - even without travel hacking experience! I reveal exactly how the Wyndham Rewards Earner Business Card lets us stay 5-7 nights at the Ultra Cancun oceanfront resort with unlimited food, drinks, and kids club access - without spending a dime. This isn't a complicated points scheme - it's a straightforward system my family uses every single year. In this video, you'll learn: - The exact welcome bonus that funded our entire resort stay - How we leverage 8X points on gas and 5X on utilities with everyday spending - The Capital One Venture X strategy that doubles our earning potential - Our Southwest Companion Pass hack that lets both kids fly FREE - Why most people miss out on 3X value by redeeming points incorrectly 👉 FREE RESOURCES: ✅ Southwest Companion Pass Guide (Updated): ✅ Rich's Credit Card Strategy Playlist: 👉 CARDS MENTIONED: 💳 Wyndham Rewards Earner Business Card: 💳 Capital One Venture X Business: ⏱️ CHAPTERS: 00:00 - How We Get Free Luxury Beach Vacations 02:28 - The Wyndham Rewards Card Strategy 03:06 - Moving Everyday Spending to the Right Card 03:40 - Maximizing Points with Bonus Categories 04:43 - Expanding Our System with Capital One 05:16 - The Southwest Companion Pass Secret 06:19 - Why Most People Redeem Points Wrong 07:22 - Converting Points to Real Vacation Value 09:40 - The Complete $7,500 Travel System #FreeVacation #PointsAndMiles #FamilyTravel ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36448745

$100K College Fund Mistake: New IRS Rules Changed Everything 05/02/2025

$100K College Fund Mistake: New IRS Rules Changed Everything I almost made a $100K mistake with my kids' college savings. In this video, I reveal how the new IRS rules for 529 plans completely changed my saving strategy and potentially saved me from a costly error. I break down: - The traditional 529 college savings approach and its hidden risks - The game-changing 2024 IRS rule allowing 529-to-Roth IRA conversions - How to build a true financial "launchpad" instead of just a college fund As a parent of two young boys and former educator with nearly 20 years of experience, I've learned that success isn't just about education—it's about giving your kids financial flexibility and freedom. 🔗 FutureMoney (Custodial Account Platform) - use referral code: RichSmith ⏱️ CHAPTERS: 00:00 - The $100K College Savings Mistake I Almost Made 01:06 - Why Traditional College Planning Falls Short 02:41 - The $100K Question: What If They Skip College? 03:44 - Game-Changing 529-to-Roth IRA Rules for 2024 05:47 - Why Ages 18-30 Need Capital the Most 06:51 - Our 60/40 Strategy: 529s and Custodial Accounts 08:22 - Building a Financial Launchpad, Not Just a College Fund 09:54 - The Legacy of Financial Freedom for Your Kids #CollegeSavings #529Plan #ParentingTips ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36387270

I Almost Lost My S-Corp Status | Avoid This IRS Mistake 04/29/2025

IRS HATES This Car Tax Write-Off (Business Owner Guide) 04/25/2025

IRS HATES This Car Tax Write-Off (Business Owner Guide) The truth about writing off your vehicle as a business owner that nobody tells you. My contractor buddy Mike bought a $92,000 truck thinking it was a "full tax write-off" - but is the IRS really okay with that? In this video, I break down: - The two methods for vehicle tax deductions (standard mileage vs. actual expenses) - Common vehicle deduction myths that could trigger an audit - How Section 179 REALLY works (and why people misuse it) - When a vehicle write-off is legal and when it's an audit risk - The documentation you MUST keep to protect yourself FREE RESOURCES: 🚗 Best Mileage Tracking Apps: https://timeero.com/post/best-mileage-tracking-apps 💳 Top Credit Cards for Business Gas Purchases: https://teachingmillionaires.com/recommends/gas-cards 📊 Bookkeeping Tools I Recommend: https://teachingmillionaires.com/recommends/quickbooks 📖 Chapters 00:00 - Can You Write Off Your Car? 01:01 - Mike's $92K Truck Story 02:04 - Tax Deductions vs. Business Growth 02:37 - Two Vehicle Deduction Methods 03:12 - Standard Mileage Method Explained 04:19 - Actual Expense Method & Section 179 05:55 - Three Steps to Legal Vehicle Deductions 06:54 - Real Numbers: Mike vs. Emma 08:03 - Smart Tax Planning Advice #VehicleWriteOff #SelfEmployed #Section179 ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: https://teachingmillionaires.com/youtube-subscribe 📱 Follow on Instagram: https://teachingmillionaires.com/instagram ✖️ X: https://teachingmillionaires.com/twitter 📘 Facebook: https://teachingmillionaires.com/fbgroup 🌐 Website: https://teachingmillionaires.com 🎧 Apple Podcasts - https://teachingmillionaires.com/apple-podcast 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36299990

Zero Taxes. Massive Wealth. Here’s the Strategy. 04/22/2025

Zero Taxes. Massive Wealth. Here’s the Strategy. Discover the legal strategy billionaires use to pay zero in taxes while building massive wealth. I break down how Buy. Borrow. Die. works—and how everyday people like my friends Andy and Corey are already using it. You'll learn: - How billionaires like Bezos, Musk, and Zuckerberg legally pay $0 in taxes - Why buying appreciating assets is the foundation of tax-free wealth - How borrowing against assets creates tax-free cash flow - The "step-up in basis" loophole that eliminates generational tax liability - Real examples of how a teacher and small business owner use this strategy 📥 FREE RESOURCE: Get my Tax Playbook here: 🏦 The brokerage I use: CHAPTERS: 00:00 The Billionaire Tax Secret 01:12 How Buy, Borrow, Die Works 03:23 Real-World Examples: Andy's Strategy 06:05 Why No One Teaches This Strategy 07:31 How Regular People Build Wealth 08:40 Take Action: Start Using This Today #buyborrowdie #taxes #financialstrategy ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36254550

Market Crash: What Smart Investors Do Now (No Panic) 04/15/2025

Market Crash: What Smart Investors Do Now (No Panic) The stock market just crashed, and everyone's feeling it. But before you panic or make rash decisions, watch this video for my proven approach to navigating market downturns. In this video, I share: - Why panic selling is the biggest mistake investors make - The strategic moves I'm personally making right now - How past crashes created the best buying opportunities - A real-life example of managing a $1M windfall during market chaos - Why consistency beats timing in building real wealth I've survived multiple market crashes (2008, COVID, and now this one), and each time, the investors who stayed disciplined came out ahead. This isn't about "buying the dip" blindly—it's about maintaining perspective and sticking to your long-term plan. 📖 Chapters 00:00 Market crash reality check 01:04 The Bird in the Hand principle: what I'm not doing 02:40 Learning from past market crashes 04:08 Don't make permanent decisions on temporary feelings 05:36 Sticking to your plan despite market chaos 06:04 How to handle money decisions during volatility 07:34 Why consistent investors always win 08:33 Next steps and final thoughts #MarketCrash #InvestingStrategy #StockMarket ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36136655

This LLC Mistake Cost Me $12,000 04/10/2025

This LLC Mistake Cost Me $12,000 That pit in your stomach when you know you should do something but don't? For me, procrastinating on forming my LLC cost me $12,000 in taxes that I could have saved. In this video, I share how I went from teacher with a side hustle to business owner, and the expensive lesson I learned about S-Corp election deadlines. Perfect for side hustlers, educators with extra income, or anyone sitting on the fence about making their business official. 🔗 RESOURCES: 📋 Free Business Startup Checklist: 💼 LLC Formation Service I Use: 💰 Simple Payroll System: 📖 Chapters 00:00 - The $12,000 mistake that could have been avoided 02:34 - The cycle of excuses and Bill's text message 03:39 - How missing the S-Corp election deadline cost me thousands 04:54 - Confessing my mistake and my wife's perfect response 05:41 - The 10-minute solution I'd been avoiding for months 06:40 - Breaking free from the teacher permission mindset 08:39 - The identity shift: from side hustler to business owner #LLCMistake #BusinessTips #SideHustle ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36055990

How To Handle A 40% Stock Portfolio Drop Successfully 04/08/2025

How To Handle A 40% Stock Portfolio Drop Successfully STOP PANICKING about your crashing portfolio! In this video, I reveal how I turned a devastating 40% stock loss into a powerful tax advantage using a strategy that 79% of investors completely ignore. With the recent market crash sending portfolios plummeting, my tax loss harvesting strategy shows you how to: ✅ Transform market losses into immediate tax savings ✅ Potentially save $3,200+ on your tax bill (based on 32% bracket) ✅ Completely offset capital gains taxes ✅ Deduct up to $3,000 from your regular income ✅ Strategically bank losses for future years This 15-minute portfolio refresh must be completed before December 31st, and it's 100% legal under Internal Revenue Code 1211. Learn exactly how my friend Adam saved $8,000+ on taxes during a market downturn and how business owner Greg eliminated his entire tax bill. 📖 Chapters 00:00 My 40% Stock Loss Story 01:35 Tax Loss Harvesting Explained 03:04 Capital Gains Tax Breakdown 04:04 Real Success Story: $8,000 Saved 05:30 Avoiding the Wash Sale Rule 07:03 Your Complete Harvesting Plan 08:06 Pro-Level Portfolio Refresh #taxlossharvesting #marketcrash #taxlossharvesting ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/36036220

How to Pay Your Kids $15,000 Tax-Free: IRS-Approved Family Business Strategy 04/04/2025

How to Pay Your Kids $15,000 Tax-Free: IRS-Approved Family Business Strategy Discover how to legally hire your family members in your business and save thousands in taxes! In this video, I reveal: ✅ How to pay your kids up to $15,000 tax-free (IRS approved) ✅ The 10-step process to hire family members 100% legally ✅ Turn kids' activities into legitimate tax deductions ✅ Tax benefits of putting your spouse on payroll ✅ How to set up Roth IRAs for your children's future This strategy saved my family thousands in taxes while keeping more money in our household. Perfect for small business owners, entrepreneurs, and self-employed professionals looking to optimize their tax situation. 🔽 RESOURCES MENTIONED 🔽 Payroll company I use: My previous video on Roth IRAs for kids: My video on spouse travel deductions: 📖 Chapters 00:00 How to Keep More Money in Your Family While Paying Less Taxes 01:07 Tax Benefits of Hiring Your Kids (Up to $15,000 Tax-Free) 02:37 Setting Up Roth IRAs for Long-Term Tax-Free Growth 02:54 Tax Benefits of Hiring Your Spouse 04:19 10-Step Process for Legally Hiring Family Members 06:34 How to Turn Kids' Activities into Legitimate Tax Deductions 07:52 How to Get Started Today 08:58 Beyond Tax Savings: Building Family Wealth #TaxStrategy #FamilyBusiness #IRSApproved ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35996695

Can You LEGALLY Write Off Family Vacations? IRS Rules Explained 04/01/2025

Can You LEGALLY Write Off Family Vacations? IRS Rules Explained Don't risk an IRS audit! Learn the REAL rules about writing off family vacations as business expenses. In this video, I break down Internal Revenue Code 274 and show you exactly what's legal and what will get you flagged. Forget the misleading advice from influencers - I've researched actual tax court cases to bring you legitimate strategies that hold up to IRS scrutiny. ✅ FREE DOWNLOAD: My step-by-step guide on making business travel tax-deductible 👉 📖 Chapters 00:00 - The Truth About Vacation Tax Write-offs 00:33 - My Personal Experience with Business Travel 01:02 - IRS Requirements for Business Trip Deductions 01:32 - What Qualifies as Legitimate Business Purposes 02:03 - Real Examples: Success vs. Failure Cases 02:34 - The Travel Days Deduction Strategy 03:06 - Weekend "Sandwich Rule" Explained 03:37 - Family Member Travel Deductions: Facts vs. Myths 04:41 - W2 Employee Requirements for Tax Deductions 05:16 - Legal Strategies for Spouse Business Travel 05:49 - The 1099 Contractor Method 06:22 - Deductible Business Travel Expenses 06:51 - Non-Deductible Expenses to Avoid 07:25 - Documentation Requirements for the IRS 08:33 - Real-World Strategy Example 09:41 - Key Takeaways #taxdeductions #businesstravel #taxstrategy ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35945285

BOI Filing OFFICIALLY DEAD for U.S. Businesses (What This Means for You) 03/28/2025

BOI Filing OFFICIALLY DEAD for U.S. Businesses (What This Means for You) BREAKING: The Treasury and FinCEN have officially exempted most U.S. businesses from BOI reporting requirements in a new March 2025 ruling. In this video, I break down: - What the March 21st, 2025 interim final rule actually means - Why most domestic businesses are now exempt from filing - What to do if you already filed a BOI report - How to avoid scams targeting confused business owners - What's happening with legal challenges to the CTA 📄 FREE DOWNLOAD: BOI Update Guide 👉 🔒 Need expert compliance help? Get personalized assistance from the service I personally trust 👉 📖 Chapters 00:00 - Introduction: BOI Requirements Overturned 00:48 - New Treasury & FinCEN March 2025 Ruling 01:38 - Corporate Transparency Act Background 02:27 - Original BOI Requirements Explained 03:07 - March 21st Ruling: U.S. Businesses Exempt 03:52 - Billions in Compliance Costs Saved 04:44 - What To Do If You Haven't Filed 05:25 - What To Do If You Already Filed 06:27 - Avoiding BOI Reporting Scams 07:31 - Pending Legal Challenges 08:17 - Action Steps for Business Owners 09:37 - Staying Ahead of Regulatory Changes #BOIreporting #CorporateTransparencyAct #FinCEN ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35893575

How Investors Save $30,000+ on Taxes with Real Estate (Legally) 03/25/2025

How Investors Save $30,000+ on Taxes with Real Estate (Legally) 🎯 FREE Real Estate Tax Playbook: https://pages.teachingmillionaires.com/re-tax-playbook Do you know the secret tax strategy that wealthy real estate investors use to pay almost NOTHING in taxes - completely legally? Learn how depreciation can save you thousands on your tax bill! In this video, I break down: ✅ How real estate depreciation works in simple terms ✅ The cost segregation strategy that saved me $10,000+ last year ✅ Why bonus depreciation is disappearing FAST (act now!) ✅ How to avoid the depreciation recapture tax trap Depreciation isn't just for businesses - even ONE rental property can save you thousands in taxes. I'll show you exactly how I used these strategies to reduce my taxable income and build wealth through real estate investing. 📖 Chapters 0:00 - How the Wealthy Use Real Estate to Pay $0 in Taxes 2:11 - Understanding Depreciation: The Secret Tax Weapon 3:23 - Cost Segregation: How I Saved $10,000+ Last Year 4:39 - URGENT: Bonus Depreciation Ending Soon 5:48 - Avoiding the Recapture Tax Trap 7:03 - The Complete Tax-Saving Strategy for Any Investor #realestateinvesting #taxstrategies #realestate ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35800660

Your CPA Missed $250,000 in Tax Credits (What Else Are They Missing?) 03/21/2025

Your CPA Missed $250,000 in Tax Credits (What Else Are They Missing?) 🎯 FREE Tax Credit Playbook for Business Owners: https://pages.teachingmillionaires.com/tax-playbook Is your CPA or accountant leaving thousands of dollars on the table? In this video, I reveal the hidden tax credits and deductions that most CPAs overlook, including one that saved my client $250,000. You'll discover: - The R&D tax credit that even non-tech businesses qualify for - How a simple change saved one client $70,000 without spending a dime - The one question that reveals if your CPA is truly looking out for you - The 179D energy-efficient building deduction worth up to $6 per square foot - How cost segregation can accelerate your property depreciation 📖 Chapters 00:00 The $250,000 tax credit most CPAs miss 01:50 R&D tax credits your business can claim 04:01 Property-related tax credits explained 07:02 Why CPAs overlook these opportunities 08:08 The question that can save you thousands 09:17 How to claim your tax credits today #TaxStrategy #TaxCredits #BusinessTips ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: 📱 Follow on Instagram: ✖️ X: 📘 Facebook: 🌐 Website: 🎧 Apple Podcasts - 🎧 Spotify - 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35801015

My Brother Almost Gave Up on Buying a Home—Here’s How 03/18/2025

My Brother Almost Gave Up on Buying a Home—Here’s How 🎯 FREE First-Time Homebuyer's Playbook: https://pages.teachingmillionaires.com/homebuyer 🏡 Buying your first home isn't impossible in today's market! I sat down with my brother Sean who thought homeownership was out of reach, and completely changed his perspective with these insider strategies. In this video, I reveal: ✅ The house hacking strategy that could get you paid to live in your own home ✅ Government programs that let you buy with as little as 3.5% down ✅ The shocking truth about mortgage payments banks don't advertise 📖 Chapters 00:00 - Introduction 01:07 - House Hacking: The Duplex Strategy 03:33 - Government Programs for First-Time Buyers 05:21 - Down Payment Options Explained 06:37 - The Truth About Mortgage Payments 08:56 - Starter Home Strategy 10:07 - Saving on Closing Costs #FirstTimeHomebuyer #HouseHacking #RealEstateAdvice #HomebuyingSecrets ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: https://teachingmillionaires.com/youtube-subscribe 📱 Follow on Instagram: https://teachingmillionaires.com/instagram ✖️ X: https://teachingmillionaires.com/twitter 📘 Facebook: https://teachingmillionaires.com/fbgroup 🌐 Website: https://teachingmillionaires.com 🎧 Apple Podcasts - https://teachingmillionaires.com/apple-podcast 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35734605

How the Rich Pay $0 in Taxes: The Buy, Borrow, Die Strategy 03/13/2025

How the Rich Pay $0 in Taxes: The Buy, Borrow, Die Strategy 👉 Learn more a Portfolio Line of Credit: https://teachingmillionaires.com/recommends/m1-finance The ultra-wealthy like Jeff Bezos and Elon Musk pay significantly less in taxes than everyday Americans - and it's completely legal. In this video, I break down the "Buy, Borrow, Die" strategy that allows billionaires to enjoy a 3% tax rate while restaurant owners write $90,000 checks to the IRS. Learn how regular people can start implementing this strategy: ✅ Buy assets that appreciate in value ✅ Borrow against those assets (tax-free!) ✅ Pass them to heirs with zero capital gains tax I'll show you real examples of how everyday investors are using securities-backed lines of credit and portfolio loans to access cash without triggering taxable events. 📖 Chapters 00:00 - How Bezos paid $0 in taxes 00:34 - The $90K tax burden reality 01:41 - The 3% vs 35% tax rate gap 02:43 - Buy, Borrow, Die strategy explained 03:46 - Real estate example: building wealth tax-free 04:45 - How regular people use this strategy 06:13 - The inheritance loophole: step-up basis 07:39 - Three rules for implementing safely #TaxStrategy #WealthBuilding #BuyBorrowDie #TaxOptimization ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: https://teachingmillionaires.com/youtube-subscribe 📱 Follow on Instagram: https://teachingmillionaires.com/instagram ✖️ X: https://teachingmillionaires.com/twitter 📘 Facebook: https://teachingmillionaires.com/fbgroup 🌐 Website: https://teachingmillionaires.com 🎧 Apple Podcasts - https://teachingmillionaires.com/apple-podcast 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35616905

Avoid $20,000+ Court Fees: Living Trusts Explained 03/11/2025

Avoid $20,000+ Court Fees: Living Trusts Explained 👉 Learn more about Living Trusts: https://teachingmillionaires.com/recommends/living-trust 🎯 FREE Guide Living Trust Checklist: https://pages.teachingmillionaires.com/living-trust When my friend Noah faced a serious health diagnosis, I realized most people don't understand how important proper estate planning is - especially living trusts. In this video, I share Noah's story and break down: Why 67% of Americans are making a costly mistake How probate court can cost your family up to $35,000 and 17 months of stress The simple steps to set up a living trust (even if you're not wealthy) Why this isn't just about money, but protecting your family's future Have you dealt with probate court? Share your story in the comments below - it might help someone else! 📖 Chapters 00:00 A Late Night Call That Changed Everything 02:01 My Trust Obsession: Researching Estate Planning 03:29 The Painful Truth About Probate Court 04:03 Living Trusts: What They Really Are 05:27 Setting Up Your Trust: Simple Steps 06:51 How Helping Noah Changed Me Too 07:24 The Real Cost of Not Having a Trust 08:28 It's Not Just About Death - Protecting Your Family While You're Alive 09:53 Who Really Needs a Living Trust? #estateplanning #livingtrust #probate ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: https://teachingmillionaires.com/youtube-subscribe 📱 Follow on Instagram: https://teachingmillionaires.com/instagram ✖️ X: https://teachingmillionaires.com/twitter 📘 Facebook: https://teachingmillionaires.com/fbgroup 🌐 Website: https://teachingmillionaires.com 🎧 Apple Podcasts - https://teachingmillionaires.com/apple-podcast 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. /episode/index/show/teacherentrepreneurs/id/35613165

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