Your Tax Bill Doesn't Have to Be This High: Here's How to Legally Slash It (Even to Zero)

Hey guys, it's Toby Mathis, and we're going to be talking about reducing your taxes dramatically, sometimes all the way down to zero. Now, I'm not a huge fan of that zero, by the way. The reason is pretty simple. I like those lower tax brackets. I like paying like it doesn't bother me to be in that 10% tax bracket. I'm not going to jump through a bunch of hoops just to avoid paying 10% tax. But some of you guys are dead set on getting that tax bill all the way down to zero. And these are the strategies that you can use to get there. And I'm going to put you guys into two broad categories. The first category is like my W-2 wage earner. You make a good salary. Maybe you make a really good salary, but you don't have a side business or a bunch of investments in real estate. You don't have a bunch of investments or any businesses creating deductions. You basically get your W-2 at the end of the year, and you're just getting pummeled in taxes. And then your accountant says, hey, good news, we're going to be itemized this year. And they get all excited. Maybe because you gave some money to charity, they had you bunch them up, maybe had the mortgage interest deduction, maybe this new higher state and local tax, the Salt deduction got you some deduction. Maybe there was some medical expenses in your account and sitting there and they're spiking that football because you've they found you $5,000 in itemized deductions. And then you realize wait a second I was already getting the standard deduction. Right. I was $16,100 for single people. It's 32,200 for married filing jointly, but you only benefit from the amount that exceeds that. So I don't get like a whole bunch of new deduction. I'm only getting the amount. And that pushes me above what I was already entitled to. So you do the math and you figure out, hey, wait a second. I saved about 500 bucks, in actual tax. And then you're thinking, I just jumped through all those hoops for this. No, that's not what I'm talking about. Today. More than 80% of the taxpayers use that standard deduction. I'm going to show you strategies that don't depend on trying to squeeze another couple hundred bucks out of the automated deductions. These are strategies that can take big chunks out of your taxable income. So if you're a high income W-2 earner and you're thinking, Toby, my accountant told me I don't have anything else to write off this, this video is actually for you because they're nuts. That's not true. Because implementing just 1 or 2 of these strategies can dramatically change your tax situations. Now I'm going to talk to the other side of this group. And these are my business owners, my investors. Maybe you already have a side business. Maybe have a family office. Maybe you're running a full time business. Maybe you have your own real estate. Maybe you're in a bunch of partnerships, you've already got deductions, but you're still boom, boom, boom getting pummeled in taxes. And every year you've got this profit flowing through on your schedule, see your schedule, or you've got one income coming in. And sometime around tax time, somebody tells you, Toby you owe another $80,000, write that check. Been there, done that. Have that t-shirt and you feel like a pinata and just getting whacked. Every year the tax man comes in and he's hunting for you, and he's just going to give you another smack. For you the issue isn't that there aren't any deductions. The issue is that you're not getting out ahead of your income. And that's what tax planning really is. I'm not talking about waiting until March or April and asking what I can deduct, because by then a lot of the time it's too late. I'm looking at what's happening before the year end and asking, what can I do now to take a huge chunk out of this income? Save a bunch on taxes. And if you have a business or investment, you have a lot more opportunities than your W-2 brethren. So I'm going to take those two groups, and I'm going to run them through four different planning buckets. And if you understand these four buckets, tax planning starts getting a whole lot easier. Now. Bucket number one. This is my favorite place to start because you don't have to spend any additional money. This is stuff you're already spending money on. And to understand this bucket, you have to understand one really important distinction in the tax code. The IRS treats individuals very differently than it treats businesses. And here's how it works. If you're an employee. If you're an employee, you own money. And then you know what happens. They tax you. They withhold it right out of your paycheck. And then you get to spend what's left. Earn tax. Spend. That's your life as a W-2 employee. And every once in a while the government says, okay, if you spend money on this particular thing, we'll give you a deduction. Maybe it's mortgage interest, maybe it's medical expenses to a degree has to exceed a floor. How about your state and local taxes. Maybe there's charity and then you've got that standard deduction sitting there saying, hey, wait a second. I only get to use those itemized deductions to the extent they extend that standard deduction. So you're not really getting any additional tax benefit. And by the way that's true for over 80% of us. But then you look at a business and it gets completely turned around on its ear. Because for a business I'm just going to make this year us. And then we have our friend the business. And for a business. It turns money. Then you know what that business does? It spends the money. It does things like pay the rent, buys equipment, pays for internet connection, but by cell phone or the connectivity business meals, it pays for all of its ordinary, necessary business expenses. And then what happens? Well, we get to tax what is left, earn spend tax. Completely different order of operations, right? And if you understand nothing else from this video, understand that it's the earn tax spend versus earn spend tax. And this is where we are already spending money. A huge part of tax planning is figuring out which system you're operating in. And if you're earning money immediately getting taxed and then spending what's left. Or are you are you in a system where you're earning money and you can legitimately spend money in connection with the business or investment activity, and then you only pay tax on what's left? And I want to be in that second category as much as I can. So let's start looking at what you're already spending money on. Maybe it's your cell phone. Maybe it's the internet cable. It's your car. It's your health care, dental vision. It's your co-pays, maybe even your house. And somebody's going, oh, wait a second, Toby. Say, I got to write off my house. Yes. Your house. There are strategies where your business reimburses you for your home offices. There are strategies where your business rents your house from what's what's under what's commonly called the Augusta rule, and gets you money that is tax free to you and deductible to the business. There are ways of structuring a medical reimbursement where it can deduct medical, dental, vision. There are automobile reimbursements. And these are I'm not talking about itemized deductions. I'm talking about looking for business expenses and reimbursements. Let me give you an example. Let's take your car. Because almost always almost everybody has one. You're already making that car payment. You're already paying for the insurance. You're already putting gas in it. Unless you have electric car like me, I have a Tesla. You're putting electricity in it. You're already doing things like changing its tires and doing maintenance. And if you're using that vehicle for a legitimate business purpose, why would you simply eat all that personally? So let's say you have a corporation. It could be a family office. It could be whatever side business you want. You'd have to pick you own that car personally. But let's say that you drive 10,000 business miles during the year. You keep a mileage log. Your corporation can reimburse you using the IRS standard mileage rate under an accountable plan. The corporation like it pays you. Let's just say it gives you 7000 bucks. The corporation gets deduction. Remember the earned spend tax and the reimbursement isn't taxable income for to you. You still own the car personally you have to buy another car. No. Did you create some fake expense? No. You're already spending the money. We just changed it. We just made sure that the business portion was treated like a business expense. And the same thing is true of your home office. Same thing is true of your cell phone. Maybe it's your cable, your internet. Same thing with medical expenses if we use the right structure. And I mentioned the Augusta rule, let's say your business needs to have meetings. If you set up a corporation, it has to have meetings or an LLC taxes of corporations and it uses your house. Your business can literally rent your house for up to 14 days per year. The business deducts that rent, you receive the rent, and you don't report that rental income on your personal return. You follow the rules. You document the meetings. You use a reasonable rental rate. That's it again, we're looking at money you're already spending and asking how much of this can we push on to a business side so we can actually get that deduction. And here's another one of hire your kids. If your kids actually work in your business, pay them. And this could be your rental real estate. Maybe they're doing social media. Maybe they're doing administrative work. Maybe they're cleaning the office, maybe they're appearing in advertising. Whatever they're doing, make it real, document it and pay them reasonable compensation. The business gets the deduction. The child reports the income on their at their tax rate. And now the child has earned income, which means they can start looking at things like a Roth IRA. That's tax planning. I'm not looking around for some exotic tax shelter. I want to know whether we're picking up all the money that we're already spending and taking it as a deduction, because that's usually the easiest money. And if you don't want to have a family business, this works in many other cases. And I'm going to use an example, health savings account I can literally contribute money to it. Take a deduction for doing that, assuming that I have a high deductible plan and I meet the requirements, and then I can reimburse my medical expenses, expenses that I wouldn't have been able to write off because I was taking the standard deduction. But now I can deduct it. I wrote it off going into the HSA, and I don't have to pay tax when it comes back out. No more itemizing. I still get the standard deduction. It doesn't cost me a dime. It just saves me in taxes. That's what we're talking about in number one. Now bucket number two is a little bit different. Now we're actually going to spend new money to create deductions I'm going to call this the by. This is where you see these crazy TikTok videos where they say go buy a G wagon before December 31st and write the whole thing off. Well they're nuts. Maybe you still have to buy the G wagon. The government isn't going out and buying the G wagon for you. If you spend 100 grand to save $30,000 in taxes, you still spent $100,000. But that doesn't mean the deduction isn't valuable. You have to do the math correctly. Let's say my business needs a piece of equipment. Maybe it's a I'm in a pizza shop and it's a pizza oven and it's $100,000. And let's just say to keep the math easy, buying that equipment saves me $30,000 in taxes. So how much did that equipment really cost me? Economically, it's about $70,000. I wrote a check for 100 grand, but 30 of that 30,000 of it came right back to me in taxes. That's how smart business owners look at it. And that's how smart investors look at it. What's my after tax cost? And there are all sorts of things that fall into this buckets. You can be talking about equipment, computers, machinery, vehicles, business improvements, short term rentals. You ever heard of the short term rental loophole? Real estate, by the way, surprises people. You can do it with with real estate, because you might buy a say it's $1 million piece of real estate and say, Toby, I don't get to write off a million bucks. I depreciate it over 27.5 years. You're right. Except we can do a cost segregation study. We can identify the shorter life property in that structure. We can use bonus depreciation to write it off immediately. And suddenly we create a very large paper deduction much earlier than you expected. And here's the really fun part. I could finance everything. I don't have to like my equipment. I could buy it on a credit card, I could finance it. Or maybe I put $200,000 down on $1 million fourplex. My depreciation isn't limited to the $200,000 cash I put down, because I financed the rest. I might get a $300,000 deduction out of that. And now we're creating leverage. I'm using borrowed money to acquire an asset, and the tax code is allowing me to create deductions based on the basis of that asset, which is what I paid for. But there's always another question can I use that loss? This is where people get tripped up, because creating a $300,000 loss on paper doesn't automatically mean I take that $300,000 loss against my W2 income. We have passive loss rules. We have these things called material participation rules. We have real estate professional rules. We have short term rental rules. So you have to know what you're doing. But bucket number two is really simple. I'm going to spend money anyway. What does the tax code give me for making that purchase? Because if something cost me a dollar and saves me $0.30, I need to know that now. Bucket number three is available to just about anybody. I'm going to call it the invest you high income W-2 earners. This is what your accountant is not telling you. This is the one the wealth you use all the time. These are investments that come with some sort of tax advantage. And probably the gold standard is all and gas. And why do I say and gas? Because there's something called a working interest in oil and gas operation. It's under the it's under the tax code. And if it's structured correctly that tax provision has special rule that makes the loss non passive in English. Here's what this means I can use the loss that's generated from that investment against my W-2 income or other income. And that's a huge deal because normally I can't just buy some passive investment, generate a loss and use that to wipe out my salary. The passive loss rule stop me, but only and gas is different. And I'll give you a real world example. One of the wells of an operator that I work with last year generated a 95 cent per dollar deduction, first year deduction. It was because they had intangible and tangible drilling costs. They put the whole thing in service. Last year it created this big deduction. So let's make the math easy. I invested $100,000 in that. I would get a $95,000 deduction. Now let's say that deduction saves me approximately. Let's just say it's 30% in taxes. In my case it's higher. Some people it might be slightly lower slightly higher who knows. But it's about let's just say $28,500 in tax savings at 30%. Did I invest $100,000? Absolutely. That money left my account. But what's my effective after tax cost? I have to take that 100,000 bucks. I have to add back in my tax savings. So my cost is actually about $71,500. And I still own that investment. It's going to start paying me out over the years, and I'm going to get this nice income source. It's almost like an installment note. And that's why people with significant taxable income look at these types of investments. It's not that I found a tax deduction. And I'm going to go throw $100,000 at it. It has to be an investment I want to own. And it still has risk. The economics still have to make sense for me to invest in it. But if I have two investments sitting in front of me, one makes me a good expected return, but it has no current deduction and the other investment makes me a good expected return, plus a $95,000 current deduction that I can actually use. I'm going to factor that into my decisions. Of course I am in. And gas isn't the only thing in that bucket. Real estate can end up in that bucket too. We talk about active participation. We talk about real estate professional status, we talk about passive losses, and we talk about the short term rentals and material participation, all those things. But you also have retirement plans like 401k's. Everybody knows about 401k’s and IRAs, cash balance plans where you're taking a huge chunk of money off the table. HSA, which we talked about earlier, there are a bunch of different ways to take money that you were going to invest anyway and ask, can I put this money somewhere that gives me a tax benefit? Don't just say, hey, what's the return? Ask, what's my return after the tax benefit? And what does this investment do for the rest of my tax return? Because those can be two very different numbers. And then the last bucket bucket number four is giving. This is going to trip a lot of you guys out. This is the charitable bucket. And this is the one that like people really don't understand how powerful it is. And they don't utilize it nearly as much as I would expect. The wealthy have figured this out. Have you ever noticed that somebody who's worth a lot of money has their own foundation, or their own charity tied to their hip? Now they also have a family it using all these buckets. But the reason that they have that foundation or that charity at their hip is because of this. This is why. Because you can use charitable giving of your assets. You can reap huge personal tax benefits, but you still control and steward that money, those assets, they don't leave your realm of control. They just move from one area to another. You've moved into a charitable area now. Once you donate the asset, it's no longer mine. It's no longer Toby's. It belongs to the charity. You don't get to use the charity like your personal checking account. It's not your own piggy bank. But if it's your foundation or you're running a public charity, you're involved in that. You're in control. You're making the decisions, you're stewarding those assets. You're deciding how those charitable dollars are going to be deployed in accordance with the organization's charitable purpose. And let me give you an example of what something I've actually done multiple times. I've donated houses, a bunch of them. I had a charity involved in economic and financial stewardship, and one of the things that we did was provide moderately priced housing. Low to moderate housing is actually a charitable activity, and I had a few properties that I'd owned for many years, and over time I would just donate those properties to my charity. I didn't do all of them at once. I would donate them, you know, kind of once a year, once every two years, depending on what I could get out of it as far as the tax deduction. And when I did that, the deduction I would receive was the fair market value of the property, the date I donated it. So here's how it works. Let's say I bought a house in Indy for 100,000 bucks, and now the day I donated, it's worth 300,000. Well, I've owned it for over a decade now. I've depreciated the heck out of it over those years. Let's say my basis in that $100,000 houses now $50,000, because I've been writing it off. So I've got a $300,000 house with a $50,000 basis. If I sell that property, I'm looking at a bunch of gain and depreciation recapture. Instead, I donate it. Now I get a $300,000 charitable deduction against my other income. Now there's AGI limits and things like that. But I actually get a big deduction. In my particular case, the tax savings from donating that $300,000 property saved me in taxes over $100,000 more than what I originally paid for the house. And I want you just to let that let that sink in for a second. I bought the house for 100 grand. I rented it out. It produced income. I depreciated it for years. Those depreciation deductions reduced my taxes. Those rents were pretty much tax free. The House appreciated it $300,000. And then I donated it and generated a 300,000 charitable deduction. The tax savings from the donation was more than my original purchase price. That's how powerful this stuff can be. And you can do this with stock. You can do this with crypto. You can do this with real estate. You can do this with any appreciated asset. You just have to follow the rules. Now somebody is going to say, Toby, you just gave away $300,000 house, you idiot. Yep I did. It's not mine anymore. My charity owns it. But in my case, it was a charitable organization that I controlled doing what I care about. And the charity owns that asset and continues to use it first. Charitable purposes. Maybe the charity continues just holding that property. Maybe it uses it for its programs, maybe the charity sells it and uses the money for its charitable purposes. Maybe it makes grants to other charities now instead of you giving to other charities. Maybe it's giving to other charities. And depending on what type of organization you have, your family can be involved to. Your kids could work for the organization, they could run the organization and get a salary. Now they actually have to work compensation. Ask. Be reasonable. You have rules to follow. But these are all things that you do and people actually do it. But you can create something with your family that they control these assets and they continue to steward it. And that's what a lot of my clients like. They like to control things. They like to steward the wealth themselves. They don't want to just give it over to Uncle Sam. So rather than simply writing a check to somebody else's charity every year I give it to my church. They set up their own foundation or their own public charity and do something they care about. They donate assets, they get a large charitable deduction, and then they steward that money for charitable purposes. Sometimes they're running their own program, sometimes they're giving money to other organizations. If it's a private foundation, for example, you're going to be having to give away 5% of its assets every year to other charities. Maybe that's where your fund, your church. So maybe you're making grants every year to organizations you want to support instead of doing it personally. But now you're doing it through this foundation. And that's where people make a lot of the big mistakes. They got appreciated. Stock sitting over here. Now maybe I have it. They have appreciated real estate sitting in their name. They've got crypto that's gone through the roof, sitting in their name, and then they reach into their checking account and give their cash to charity. Why? Why are you giving away your cleanest asset? Look at the appreciated assets. You don't have to sell it. You let me let me go over this with stock. Let's say you founded a company. Your basis in the stock is basically nothing. And then the company takes off and the stock really takes off. The math is ridiculously simple. Let's just say that I have ten shares and each share is worth $100,000. So I've got $1 million of stock and the basis is basically zero. So I have a few options. Right? I could sell my ten shares, and let's assume that we're paying 20% long term capital gains rate plus the 3.8 net investment income tax. So I'm paying 23.8%. So I sell the million dollars. My federal tax bill is going to be, let’s write over here is about 238k. See if you can actually see that 238k. Boy that's just horrible. 238 okay, that's what my tax bill is going to be. You started with a million. You sent $238,000 to the government. So what do you have left. So I took it 1 million -238. That's going to leave me, what? 762? That's what I have left. That's the wealth you control after tax. But let's do some planning. Instead of selling all ten shares, I'm going to sell seven. I'm going to donate the other three shares directly to a charity before their sole. So those three shares are worth $300,000. So I sell $700,000 worth of shares. I sold seven shares at $100,000 each. That's 700,000 at 23.8%. That's going to be about $166,000 of gain. That's what I'm going to owe on that. But I also made a $300,000 charitable contribution. That gives me a $300,000 charitable deduction. Let's say that deduction is worth roughly 35%. To me, that's about $100,000 of tax savings because it's not against just the capital gains. I get to use it against my ordinary income. So I got a I got to net those things out. My actual tax bill is what, 66,000 I just writing horrible today. I'll just say this. It's going to save it. It's going to end up costing you about $66,000 in taxes. So when I put those two next to each other, I sold everything. And I had $238,000 in tax. I have $762,000 wealth controlled after tax. But then I instead I do this charitable planning. I use one, I have $1 million that that I need to dispose of. I'm going to end up with roughly $66,000 of net tax. I still have $934,000 of wealth controlled after tax. It's $172,000 difference. It's the same taxpayer, me, same stock, same million bucks. All I changed is what I did before I sold it. Now again, that $300,000 that I give to charity isn't mine anymore. But I got to decide where it went. I'm using my own foundation or charitable organization. I'm involved in marshaling over those charitable dollars and deciding how they're used for charitable purposes for that organization. So in scenario one, I'm left with $762,000 of wealth left. Yay! I have unfettered access to it. The other leaves me with $934,000 of wealth, working again for where I want it to work. Which one would you rather have? Would you rather have 732, or would you rather have 934,000? And there's another important part. I have to do this before the sale. Don't sell the stock and call me the next day and say, hey, Toby, how do I avoid the tax? I don't, I already I just created the taxable event. Tax planning happens before the taxable event. And by the way, this exact strategy is what Elon Musk uses. What all these guys use when they're dumping their shares, you'll oftentimes see them making charitable contributions to their foundations. Where do the charities that that they work on and that they care about to offset the tax. And on the other side. So, by the way, if you want to learn more about this, the charitable side we actually teach, Anderson actually teaches an entire course on how to set up and operate a nonprofit. If you have a passion in your life or you like helping people or you like, this is weird stuff that actually qualifies. Low to moderate income housing, recovery housing, residential assisted living, anything that involves amateur sports. I have a friend who set up a volleyball course and like it teaches, it has a bunch of club teams and all that. I have a sanctioning body here in Nevada for for Muay Thai that I still operate through a nonprofit. If you want to learn that, we teach it several times throughout the year. It's absolutely free. I'll make sure there's a link or something in our show notes if you want to see one. The next one is we go through the different types of organizations how to structure them, how to operate them, what you can and can't do, and how families use them, including hiring their other family members. Again, I'll put the link to that in the show notes. Absolutely free. Now we've gone through all four buckets here. And here's the question I want you to ask yourself, is your account actually running all these types of kind of hypotheticals against your tax return? What's my tax bill if I do nothing? What happens if I buy certain types of equipment or if I do the short term rental loophole? What happens if my spouse qualifies as a real estate professional? What happens if I put money into and gas or some other investment? What happens if I donate a bunch of appreciated stock? Or if I give that stock to somebody else and have them sell it? Then maybe it's a child where they're in a lower tax bracket. What happens if I do a few of them? What if I stack them up? What if I do different types of strategies? What happens if I use one two? What if I do three of them? Which combination actually moves the needle the most? I can almost unequivocally tell you that your accountant isn't running 1500 different scenarios against your tax return, and that's not because they're a bad accountant. It's just because it would take forever. And that's why at Anderson we actually built something called our Smart Tax Navigator. We take your prior prior tax year returns. We look at your current situation situation and then we run approximately it's no joke about 1500 different scenarios against your tax situations. And what if we do this like we run it. What if we do that. We run it. We calculate it. What if we combine these a couple of these. We calculate it. What strategy. What does this strategy save. What is what does that strategy save. The software we've built does all the heavy lifting and then it comes out. On the other side is a group of strategies that are going to have the biggest impact on your tax situation, not somebody else's tax return. Your tax return, not some TikTokers tax return yours. And then we sit down and say, here's strategy a year what it can save you. Here's strategy B, here's what it can save you. Here's what it costs to implement. Here's the complexity. Is the juice worth the squeeze. And that's your call. It's the reason we're able to do this because we've been doing this for close to 30 years. We have a we do about 10,000 investor tax returns a year. Bunch of tax attorneys. We've got CPAs, EA's accountants. We've been through the audits. We've we've defended our positions. We've seen what works. We've seen what does not work. And we built this really cool, smart tax navigator using AI and software programmers. We spent a ton on this, and we took all the strategies we've seen our clients use over the years and built that knowledge into the software. We've seen it work. We see all the different choices. There's really like about 50 different strategies that are bread and butter that we can use. And I don't want to guess, I don't want to sit here and say, look, I think I might be able to do it. I want to do it. I want to calculate it. I want to know if Toby does X, what happens to his tax return. Run it. What if he does Y run it? What if he does X and Y together? Run it. What's the number? That's how you make a tax planning decision. And that's where I have an issue with a lot of the tax stuff you see online. That TikToker is talking about some crazy strategy isn't preparing your tax return. That TikToker isn't sitting next to you during an audit. Half the time they're talking out their arms because of something they heard somewhere, usually off of my channel, and then they misrepresent it and regurgitate it. No. Give me the numbers. Give me the old returns. Give me the strategy. Tell me exactly what it saves, and then I'll decide. Do I want to do that? Is the juice worth the squeeze? That's my call. That's your call. If it's. If you're sitting here having this done for you, you get to make that call. And here's the best part. When we do the smart tax navigation navigator, we guarantee it. It's really inexpensive by itself. But our rule is simple if you spend a dollar with us, we want to at least $2 of savings. If we can't identify what ends up being 100% return on what you spend for a smart tax navigator, it's free. If you spend a dollar and it doesn't save you two, it's free. That's how we work. And if you've never done something like that before, I would encourage you to do it at least once because you could use those strategies going forward. You do it once. It might save you hundreds of thousands of dollars in the next ten years, but you only have to do it once and it's eye opening. Maybe we identify, let's say, five strategies, and you only want to do one of them. That's great. At least now you know what the other options are. And once you know what strategies work for you, a lot of these aren't one year strategies. Use them over and over again. So maybe I save $20,000 this year. Maybe I save $25,000 next year. Maybe I save $30,000 a year after that. Now stretch that out over ten years. 20 years for a lot of people are talking about serious money, hundreds of thousands of dollars. And that's the type of tax planning I'm interested in not jumping through 14 hoops to save 500 bucks while your accountant does the the jig and spikes the football, saying, look at what I got you. I want to find things that actually I want to find things that actually move that needle. I don't want big chunks. So that's option number one. If you want to see if these strategies actually what they actually do on your tax return, I will put a link in for a free consult from not going to say, hey, go buy the the Smart Tax Navigator. That's not appropriate. I want to talk to somebody. I want you to talk to somebody and see if it works. So I'll put the strategy session, a free strategy session where you can talk to somebody in the show notes, so you know what it entails. Option number two, maybe you're saying, Toby, I don't want to spend anything. I just want to learn this stuff. Perfect. Come to our tax and asset protection workshop. We teach them almost every week on the weekends. It's a free one day workshop. We go through corporations, LLCs, different types of asset protection strategies, different types of tax strategies, mostly focused on real estate. But there's others. And we also hit legacy planning. We've been teaching this course for decades, and the whole purpose is to give you options, because that's what this entire video is about giving you options. Tax planning is about having options before the taxable event actually occurs. And if you want us to run the numbers, use the Smart Tax Navigator. Book a consult. If you just want to learn, come to the Tax and Asset Protection Workshop. And if you're particularly interested in the charitable side and setting up your own nonprofit, I'll put a link to our free nonprofit training in there, too. All three will be in the show notes. You'll just be able to go find them. Click on one of those links and if you got something out of this video, subscribe to this channel and put this in the comments. Which of these four buckets have had the biggest impact on your taxes if you've used them? Is it the money you're already spending? Is it buying things and creating deductions? Is it an investing in tax favored investments or is it giving? Put it in the comments. I'd love to see where you guys are at, which ones you're getting the most juice out of. Talked about the juice worth the squeeze, right? And thank you, by the way, for watching. And I'll see you in the next one.