Episode
Reducing Taxes as a Business Owner
- Podcast
- Hidden Money Podcast
- Published
- Jun 2, 2026
- Duration seconds
- 1697
- Processing state
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- https://share.transistor.fm/s/4e1d742d
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Summary
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 yourself from an IRS audit Real client stories: an engineer with a woodworking hobby-turned-business and paid zero taxes for two years, a Turo operator who turned $32,000 into a $140,000 tax benefit; while both worked full-time W-2 jobs Connect With Us Website: https://www.revotaxpayer.com/ Facebook: https://www.facebook.com/revotaxpayer/ Instagram: https://www.instagram.com/revotaxpayer/ LinkedIn: https://www.linkedin.com/company/revo-taxpayer-advocacy YouTube: https://www.youtube.com/@HiddenMoneyPodcast Chapters [00:00] — Welcome & Episode Intro: Reducing Taxes as a Business Owner [00:41] — You…