Tax Reduction Podcast

Hosted by Boris Musheyev

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Latest episode

Aug 2026

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About the show

Introducing your host, Boris Musheyev, CPA. In this podcast Boris debunks the tax code by teaching you simple and effective tax strategies, so you can keep the most of what you make. His mission is to help you cut taxes and build wealth using the power of proactive tax strategies. Every episode you will gain a better understanding of how the tax code is designed to be in favor of money-making entrepreneurs like yourself. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://www.7taxwriteoffs.com/?utm_source=podcast&utm_medium=homepage

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September 4, 2026Episode 6617 min

Episode 66. This Doctor Makes Millions, Pays Himself $0 Salary… and Could Write OFF $400,000 With 1 Tax Strategy

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! In this podcast, I review the tax return of a 69-year-old interventional pain management doctor who makes multiple seven figures — and I tell him how he could potentially save more than $500,000 on taxes using strategies his own accountant completely missed. Dr. Felix owns a successful medical practice AND a large real estate portfolio, but he could be leaving a fortune on the table. Here's what I broke down for him: ▪️ The compliance red flag on his S corporation return that could create a major audit risk (his salary wasn't reported on Line 7) ▪️ How the Pass-Through Entity Tax (PTET) could give him up to $400,000 in additional deductions — and roughly $160,000 in immediate savings — just by changing HOW he pays his state taxes ▪️ Why his real estate losses may be trapped, and how short-term rentals + cost segregation could unlock a $440,000 first-year deduction ▪️ The self-insurance / captive insurance strategy under 831 that could potentially save him another $200,000 ▪️ How oil & gas investing and intangible drilling costs (IDCs) could deliver a 60–80% first-year write-off If you're a medical practice owner, high-income professional, or any service-based business owner with high profits, this podcast is for you. A lot of business owners are sitting on a potential goldmine of tax savings — they just may need to structure things correctly. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

August 28, 2026Episode 6511 min

Episode 65. Is It Too Late To Elect S Corporation and Pay Myself Salary?

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! Is it too late to elect S corporation status and process payroll for the year? Short answer: no. In this podcast, I break down how a late S corporation election works, why the March 15 deadline isn't always the final deadline, and how you may still be able to catch up on payroll. Many business owners hear, "You have 75 days" or "You have until March 15," and assume they missed their chance. That's not always true. You may be able to file Form 2553 with a late election and explain why the election was not made on time. Here's what I cover: ▶️ How to make a late S corporation election after the March 15 deadline and how the election can apply back to January 1 ▶️ How to catch up on payroll at year-end even if you haven't run payroll all year — including using a paper check against distributions you already took from the business ▶️ Why your reasonable compensation may not be prorated just because you elected S corporation status late — if your reasonable compensation is $60,000 for the year, you may still need to pay the full $60,000 ▶️ How year-end payroll can help with retirement contributions such as a SEP IRA or Solo 401(k), including employee deferrals on a lump-sum W-2 paycheck ▶️ How S corporation status may help with the QBI deduction if you are a profitable business owner who could otherwise lose part of the deduction based on your income and business type ▶️ How an S corporation may help with the PTET strategy in states that do not provide the same treatment for an LLC If you're a profitable business owner still operating as a single-member LLC or sole proprietor and you're heading toward year-end, this may be a tax strategy worth looking into. Before making an S corporation election or changing your payroll, talk with your Tax Advisor to make sure this strategy fits your situation. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

August 21, 2026Episode 6417 min

Episode 64. How a Real Estate Investing Anesthesiologist Could Unlock $509,000 in Potential Tax Deductions

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! In this podcast, I sit down with a medical practice owner and review his tax situation. As I went through his tax return, I identified several tax strategies worth looking at. When I added them together, I found approximately $509,000 in potential tax deductions. That does not mean he automatically saves $509,000 in taxes. It means these strategies could potentially reduce his taxable income by that amount. The first strategy I found involved real estate. He owned real estate inside an S corporation, which raised an important tax planning issue. I explain why I generally prefer keeping investment real estate separate from an S corporation. Then I walk through cost segregation and how it can accelerate depreciation on qualifying properties. In his situation, I estimated that cost segregation could potentially create $60,000 to $80,000 in additional deductions. I also explain how short-term rentals can create different tax opportunities than traditional rental properties. We then discuss the Augusta Rule, which can allow qualifying business owners to rent their home to their business for up to 14 days. Finally, I explain an oil and gas tax strategy involving intangible drilling costs. When I combined the strategies we discussed, the potential deductions reached approximately $509,000. The important lesson is simple. Your tax return tells you what happened. Tax planning helps you decide what to do before the year ends. That is why proactive tax planning is so important for doctors and other high-income business owners. If you wait until tax season, many tax strategies may already be off the table. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

August 14, 2026Episode 637 min

Episode 63. He Sold His Painting Business for $2,000,000

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! This painting contractor, Joe, sold his business for $2,000,000 using installment sale tax strategy but he had an unexpected tax bill EVEN though he had an installment sale set up. In this podcast, I covered exactly what went wrong and how to be prepared in the future for this. An installment sale allows a business owner to receive payments over several years instead of collecting the full sale price upfront. However, certain parts of the sale may still be taxed immediately. In Joe’s case, the depreciation recapture on his business assets did not qualify for installment sale treatment. This meant he could owe taxes on approximately $360,000 of income in the first year, even though he only received $200,000 from the buyer. In this podcast, you’ll learn: • How an installment sale works when selling a business • Why depreciation recapture may be taxed immediately • How goodwill and business assets are taxed differently • Why your taxable income may be higher than the cash you receive • How interest payments can help cover future capital gains taxes • How to prepare for tax bills throughout the installment sale • Why accurate records are essential if you change accountants • How to avoid paying taxes twice on the same income An installment sale can be a powerful tax strategy when selling a business, but it must be structured, planned, and tracked correctly. Make sure you speak with a Tax Advisor before selling your business or agreeing to receive payments over several years. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

July 31, 2026Episode 6210 min

Episode 62. 3 Investment Tax Strategies That Could Cut This Contractor’s Tax Bill by 50%+

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! Are you a contractor, trades business owner, or high-income earner struggling with a massive tax bill after selling your business? In this episode of Hot Seat Tax Return, I break down a real-life case study with Joe, a former painting contractor from Napa, California. Discover how utilizing 3 specific tax strategies can potentially cut your tax bill by more than 50%—even with high W-2 income and installment sale payments coming in! 📊 IN THIS PODCAST, I COVER: 1️⃣ The Short-Term Rental (STR) Tax Loophole: • How to bypass passive loss rules without becoming a full-time Real Estate Professional. • The 7-day average stay & 100-hour material participation rules. • How upfront bonus depreciation can offset W-2 income and installment sale profits. 2️⃣ Real Estate Professional Status (REPS) & Cost Segregation: • How a spouse can help unlock unlimited tax write-offs through real estate. • The 750-hour and 50% time rules explained. • Going back to use cost segregation on existing properties to capture missed depreciation. 3️⃣ Oil & Gas Tax-Advantaged Investments: • How Intangible Drilling Costs (IDCs) work under the IRS tax code. • How to get a quick 60%–80% tax write-off in Year 1 to offset unexpected income. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

July 24, 2026Episode 6212 min

Episode 62. How 1 Tax Strategy Created a $220,000 Deduction for This 7‑Figure Printing Business

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! In this Hot Seat Tax Review, I review the tax return of a 7-figure printing business owner and show him 1 tax strategy that could help increase deductions and reduce taxes. His name is Slava, and he sent in his business returns, real estate returns, and personal return so I could review the full picture. In this podcast, I walk through what I liked, what I would fix, and what strategies he should review with his Tax Advisor going forward. The biggest opportunity is his self-rental tax strategy. He owns the commercial building where his printing business operates. Because the same owners are involved in both the business and the building, he may be able to group the rental activity with the business activity and deduct rental losses against business income. I also explain how a self rental tax strategy with a cost segregation could create about $220,000 in additional depreciation deductions on the commercial property. We also cover: ✅ Reasonable compensation ✅ Why I liked that his printing business had no ending inventory ✅ Self-rental tax strategy ✅ Cost segregation ✅ Schedule C mistakes ✅ Hiring your kids ✅ PTET ✅ Retirement planning ✅ Real estate professional status This is a real tax return review with real business owner numbers, and it shows why tax planning should go much deeper than just filing a tax return. Before using any tax strategy, make sure you speak with a Tax Advisor who can review your full situation and help you structure everything correctly. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

July 17, 2026Episode 6112 min

Episode 61. 4 Tax Strategies That Will Save This 6‑Figure Dentist $51,000 in Taxes

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! In this podcast, I review the tax return of a six-figure dental practice owner and break down how she could potentially save about $51,000 in taxes. I walk through the exact areas I reviewed on her return, including her S corporation salary, reasonable compensation, payroll tax savings, self-rental strategy, cost segregation, retirement planning, home office deductions, Augusta Rule planning, and exit planning. The first strategy I cover is reasonable compensation. She was paying herself $188,000 in W-2 wages, but based on my review, a reasonable compensation analysis may support reducing that salary to around $125,000. That alone could create about $9,600 in payroll tax savings. I also explain how the self-rental strategy may apply because she owns the building where her dental practice operates. With the right grouping election and a cost segregation study, this strategy could create a large depreciation deduction and potentially save about $24,000 in taxes. Then I walk through retirement planning, including a traditional 401k, Roth planning options, home office reimbursement through an accountable plan, and the Augusta Rule. These strategies are not one-size-fits-all. They depend on your income, business structure, property ownership, tax bracket, and documentation. Before using any of these strategies, make sure you speak with a Tax Advisor who can review your full situation, run the numbers, and help you implement everything the right way. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

July 10, 2026Episode 6018 min

Episode 60. How to Handle Short Term Rental Audit

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! Short term rental audit rules can be confusing. Especially if you used real estate losses, bonus depreciation, or cost segregation to reduce business income. In this podcast, I explain how to handle a short term rental audit and how to prepare before the IRS or state ever asks for documents. You will learn the main short-term rental tax rules, including the 7-day average guest stay rule and the 100-hour material participation rule. I also explain why your hours need to be higher than anyone else working on the property, including a property manager. Then I break down the documents you should keep before an audit happens. This includes a detailed time log, guest records, travel receipts, repair receipts, cleaning receipts, and proof of business activity. If you are already in a short term rental audit, I explain how to organize your response, prepare a cover letter, cite the tax rules, and make it easy for the auditor to review your file. I also explain cost segregation and how it can create large first-year paper losses when paired with a short-term rental, bonus depreciation, and proper documentation. This podcast is for business owners, S corporation owners, and real estate investors who want to use short-term rentals the right way and be prepared if an audit happens. But this strategy has to be set up the right way. Before buying a short-term rental just for the tax write-off, speak with a Tax Advisor who can help you follow the rules and document everything properly. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

July 3, 2026Episode 5911 min

Episode 59. How To Write Off Your Home Office (2026)

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! In this podcast, I break down how to write off your home office the right way in 2026. It does not matter if you own a dental practice, a medical practice, a law firm, or a manufacturing business with a warehouse. Even if you already have a real office, you can still write off your home office and get reimbursed the right way. These are the same home office deduction strategies I use for my tax advisory clients, and most accountants do this the wrong way. Here's what I cover in this home office tax deduction podcast: First, who qualifies for the home office deduction. You must have an exclusive use space in your home, and it must be used for administrative work. I tell you exactly why a home office that is used for administrative work can become the principal place of business for IRS purposes, even when you already have a main office. Second, what you can deduct. I walk through the main home office expenses: mortgage interest, property taxes, insurance, and utilities. I tell you how to calculate the home office percentage using square footage, and why business owners with expensive homes can write off tens of thousands of dollars in home office tax deductions. Third, how to reimburse yourself the right way. This is the biggest mistake accountants make with the home office deduction. You do not just stick a number on your S corporation tax return. You reimburse yourself through an accountable plan, the business takes the expense, and you do not pick it up as income. I go over how the accountable plan works and why the home office reimbursement is classified as a rent expense on your books. If you are an S corporation owner, getting the home office deduction right with an accountable plan can save you a lot of money on taxes, and it is money sitting in your company that you can legally take out. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

June 19, 2026Episode 5719 min

Episode 57. 3 Tax Planning Strategies To Use Mid Year

Interested in Tax Strategy for your Business? Send us a message with your email address and we’ll help you get started! In this podcast I tell you three tax planning strategies that business owners can use mid year to save money. These are the exact strategies I use with my clients in our tax advisory firm, and there is still plenty of time left in the year to put them to work. First I cover the accountable plan and the Augusta strategy. The accountable plan lets you pay yourself back for home office costs like mortgage interest, property taxes, utilities, and insurance. One of my clients saves about 36,000 dollars a year just from this. The Augusta strategy lets you rent your home to your business for up to 14 days a year completely tax free. You can use it for meetings, holiday parties, or client presentations, as long as you keep good documentation. Next I break down reducing your salary to a reasonable amount. This does more than lower your Social Security and Medicare taxes. It also raises your QBI deduction and your PTET deduction, which can add up to thousands of dollars in extra savings. In my example, these two moves alone created 40,000 dollars and 20,000 dollars in additional deductions. Then I cover bonus depreciation for self rental. If your business rents a building you own, you can use cost segregation to speed up your depreciation and create a large write off. The best part is you can still do this even if you bought the building a few years ago, by doing a catch up. As a bonus I explain why so many business owners are missing the QBI deduction completely, and how one client got a 120,000 dollar refund after we caught it. This is one of the most overlooked tax planning moves for S corporation owners. 🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: https://7taxwriteoffs.com/?el=podcast&htrafficsource=buzzsprout *Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.