It’s that time of year — not the holidays, but tax planning season. In this episode, Jeff Trapp breaks down what the ongoing IRS shutdown means for taxpayers, from refund delays to suspended audits and limited online services. He also cuts through the noise to share real-world, last-minute strategies that individuals and business owners can still use before the end of the year to save significantly on taxes. You’ll hear what’s working now, why proactive planning always beats procrastination, and what to watch for as we head into Q4.
Whether you’re a high-income W-2 earner or a business owner looking for smart deductions, this episode will give you practical insight to take action — before it’s too late.
If you found today’s episode helpful and you’re curious how proactive tax planning could work in your situation, visit www.thetaxplanningpros.com. Our team is ready to help you make the most of this critical window of time.
And if you haven’t already, be sure to follow the podcast, leave a review, and share it with someone who might benefit.
Thanks for tuning in, and here’s to a profitable, tax-efficient fall holiday season.
2025 is almost over, but there’s still time to legally cut your tax bill. In this episode, Jeff Trapp shares six powerful year-end strategies—from bonus depreciation and R&D credits to real estate, retirement, and income timing that can help you keep more of what you earn.
If you’re an entrepreneur, investor, or high-income earner, these tips will help you discover how true tax planning can help you keep more of your money instead of sending it to the IRS.
For more on how The Tax Planning Pros can help you proactively reduce your taxes, visit www.thetaxplanningpros.com. And if you enjoy this episode, don’t forget to like, subscribe, and share the show with others who want to pay less tax.
Making millions in revenue but still feeling broke? In this episode, Jeff Trapp breaks down a common trap high-earning business owners fall into: chasing top-line sales while ignoring what really matters — profitability. Learn the 5 hidden profit levers that can dramatically boost your take-home pay without adding more revenue. From pricing strategy tweaks to cutting silent cost killers, Jeff shares actionable insights to help you build a more profitable, financially healthy business. Whether you're doing $500K or $5M+, this episode will challenge how you think about scaling — and show you smarter ways to win.
Book a complimentary consultation with our team by visiting us at https://www.thetaxplanningpros.com/contact-us.
If you enjoyed this episode don't forget to like, share, and subscribe to The Jeff Trapp Podcast for weekly tax-smart business growth strategies.
Now that the One Big Beautiful Bill has officially passed on July 4th, the tax landscape just shifted—big time.
In this episode, Jeff unpacks what’s really in the new law, from permanent increases to the standard deduction and child tax credit to massive wins for business owners like 100% bonus depreciation and a nearly doubled Section 179 cap. You’ll also hear what’s being phased out, which strategies are now in play, and how this bill could seriously change the way you plan for 2025.
If you're not updating your tax strategy after this, you're probably leaving money on the table.
👉 Book a call with our team: https://www.thetaxplanningpros.com/contact-us
The Senate just released its version of the sweeping new tax bill—and it’s packed with changes that could reshape your tax strategy for 2025 and beyond. In this episode, Jeff Trapp breaks down the most important updates and what business owners and high earners need to know now.
Jeff covers proposed changes to the standard deduction and senior bonus amounts, surprising moves on the SALT cap and pass-through entity tax credits, and expansions to both the child tax credit and dependent care breaks. He also dives into the return of 100% bonus depreciation, the permanence of the Section 199 business income deduction, and new limitations on tax-free tips and overtime wages. Other key insights include increased charitable deductions for non-itemizers and updates to EV credits, HSA provisions, and the QSBS exclusion for small business owners.
With July 4th around the corner, this episode sets the stage for what could be the most impactful tax reform since the 2018 Tax Cuts and Jobs Act. Hit play to stay ahead—and if you don’t have a tax strategist yet, now’s the time to find one.
A sweeping 389-page tax proposal is on the table—one that could significantly impact the planning strategies of business owners, investors, and high-income earners. In this episode of The Jeff Trapp Podcast, Jeff breaks down the newly expanded “One, Big, Beautiful Bill”—from the new 23% 199A deduction to proposed MAGA accounts and the extended IRS audit window.
💡 Key takeaways include:
What’s changing with deductions, depreciation, and 1099 thresholds
Who benefits (and who loses) under this bill
What to watch for in 2025 if you're tax-savvy
If you're a high-income earner or entrepreneur looking to stay tax-smart and future-ready, this one's essential. Subscribe and share with someone who needs the edge. Ready to save on taxes? Visit www.thetaxplanningpros.com/contact-us and book a consultation with a member of our team today!
Thinking about investing in real estate to lower your tax bill? Not so fast. In this episode, Jeff Trapp of the Jeff Trapp Podcast breaks down a common misconception about real estate professional status and why it won’t automatically free up your old passive losses.
Jeff also shares key tax planning reminders for 2025, what’s happening with tariffs and the economy, and how to stay focused on building your personal economy — no matter what the markets are doing.
If you’ve been wondering how to actually use passive losses or what real estate professional status really means, this episode is for you.
Don't miss out on opportunities to save — book a call with our team today at https://www.thetaxplanningpros.com/contact-us and start planning for the future. Don't forget to like and subscribe, and share with anyone you know who could benefit from this information.
In this episode of the Jeff Trapp Podcast, Jeff dives deep into the essentials of real estate investing and crucial IRS rules you must understand to maximize your tax deductions. Whether you're an active investor managing properties hands-on, or passively investing through syndications, funds, or REITs, Jeff breaks down the differences clearly and concisely. Learn how to qualify as a Real Estate Professional under IRS guidelines, understand key pitfalls investors often face, and discover proactive strategies to keep thorough records and documentation. This episode is a must-listen for anyone investing in real estate, particularly high-income earners looking for strategic tax savings.
Don't miss out on opportunities to save—book a call with our team today at https://www.thetaxplanningpros.com/contact-us and start planning for your financial future.
Be sure to like, subscribe, and share this podcast with anyone who could benefit from these tax-saving insights!
In this episode of The Jeff Trapp Podcast, we dive into the latest tax proposals under the Trump administration and what they could mean for you. With the first 100 days underway, major topics include the push for no taxes on tips, Social Security, and overtime pay, as well as the potential extension of the 2017 tax cuts. Jeff shares his insights on the likelihood of these changes passing and how they might impact taxpayers and business owners. Stay informed and plan ahead—tune in now.
Don't miss out on opportunities to save—book a call with our team today at https://www.thetaxplanningpros.com/contact-us and start planning for the future. Don't forget to like and subscribe, and share with anyone you know who could benefit from our podcast.
Happy New Year! In this episode of The Jeff Trapp Podcast, Jeff kicks off 2025 with key tax updates, including filing extensions for disaster-affected areas, the latest on beneficial ownership reporting, and crucial deadlines for the upcoming tax season.
If you’ve been affected by recent disasters in California or North Carolina, be sure to check out the IRS disaster relief updates at irs.gov/newsroom/tax-relief-in-disaster-situations.
Discover smart tax strategies, such as paying your kids tax-free, maximizing board meeting deductions, and taking advantage of the new mileage rates and retirement contribution limits. Jeff also shares insights into the current Trump administration’s tax proposals and why proactive planning now can help you save big in 2025.
Don't miss out—subscribe, share, and book a consultation with our tax experts today at thetaxplanningpros.com/contact-us.
In this special December episode of The Jeff Trapp Podcast, Jeff wraps up 2024 with essential year-end tax planning strategies. As the holidays approach, discover how to turn ordinary business expenses into extraordinary tax savings, leaving you with extra cash to make this season even more special.
From prepaying business expenses and leveraging Section 179 deductions to buying equipment or vehicles, Jeff dives into actionable tips you can implement now. Learn how to maximize deductions, manage income recognition, and take advantage of bonus depreciation — all while setting yourself up for success in 2025.
If you’ve ever wondered how to lower your taxable income before the year ends, this episode is packed with insights for business owners looking to save.
Don’t forget to like, subscribe, and share this episode with anyone who could benefit from these tips. Ready to tackle your taxes? Book a call with our expert team today: https://www.thetaxplanningpros.com/contact-us.
Happy Holidays from The Jeff Trapp Podcast! 🎄
In this episode of The Jeff Trapp Podcast, Jeff talks about the historic election of Donald Trump as the 47th President of the United States and its implications for tax policies. He discusses potential extensions to the Tax Cuts and Jobs Act and other key tax code provisions, as well as proposed changes requiring Congressional approval.
Jeff emphasizes the importance of proactive tax planning and offers strategies to help entrepreneurs save significant amounts on their taxes. Sponsored by The Tax Planning Pros, this episode is packed with insights to help you optimize your finances in light of new political developments.
Be sure to like, subscribe, and share with anyone who could benefit from these tips. And if you're ready to explore tax-saving strategies, visit https://www.thetaxplanningpros.com/contact-us to schedule your complimentary consultation today!"
In this episode of The Jeff Trapp Podcast, Jeff dives into the heart of tax planning season, offering actionable strategies to maximize your year-end savings. With the 2024 tax season quickly approaching, Jeff shares insights on essential moves you can make now to reduce your tax liability before the year ends. Whether you're a business owner, investor, or high-income earner, this episode provides valuable tips to ensure you’re not leaving money on the table.
Don't miss out on opportunities to save — book a call with our team today at https://www.thetaxplanningpros.com/contact-us and start planning for the future. Don't forget to like and subscribe, and share with anyone you know who could benefit from this episode.
In this episode of The Jeff Trapp Podcast, Jeff kicks things off with a brief update about the future of the show and some exciting developments at The Tax Planning Pros. But the main focus of today's episode is an in-depth look at the latest tax and economic plans from Kamala Harris and Donald Trump. We’ll objectively analyze Harris’s proposals, including her plans for affordable housing, tax incentives, and child tax credits, and explore Trump’s ideas to make tax cuts permanent, lower corporate taxes, and reduce Social Security taxes.
Don’t forget to like, subscribe, and share this podcast! Ready to save on taxes? Visit www.thetaxplanningpros.com/contact-us and book a consultation with a member of our team today!
In this episode of The Jeff Trapp Podcast, Jeff explains everything you need to know about the Beneficial Ownership Information Report, a new requirement from the Financial Crimes Enforcement Network (FinCEN). If you own an LLC, corporation, or partnership, you could face daily fines of $500 or even prison time for non-compliance. Jeff breaks down who needs to file, when to file, and the steps to avoid costly penalties. Stay ahead of these critical changes and protect your business by ensuring you're meeting the latest filing requirements.
If you enjoyed this episode of The Jeff Trapp Podcast, don’t forget to like, subscribe, and share the podcast with your business network. If you need personalized guidance, schedule a call with us today at https://www.thetaxplanningpros.com/contact-us#BookAConsultation!
In this episode of The Jeff Trapp Podcast, the focus of today's discussion is cost segregation—a powerful tool for real estate investors. Whether you own long-term rentals, Airbnb properties, or commercial real estate, cost segregation can help you accelerate depreciation and unlock significant tax deductions. Jeff breaks down how and when to implement this strategy, addresses passive loss rules, and even explores options for those unable to meet certain qualifications, such as grouping businesses or utilizing the short-term rental strategy.
If your current CPA or tax advisor hasn’t introduced you to cost segregation, it’s time to reconsider your strategy. Tune in to learn how to reduce your tax burden and keep more of your hard-earned money!
Ready to take control of your tax savings? Head over to www.thetaxplanningpros.com and discover how we can help you keep more of your hard-earned money in your pocket. Let’s start lowering your tax bill today!"
In today’s episode of The Jeff Trapp Podcast, Jeff breaks down Vice President Kamala Harris’s new tax plan, highlighting potential changes that could impact both wealthy individuals and business owners. From proposed tax rate increases to estate tax revisions, Jeff explores how these policies might affect your financial planning and what steps you can take to protect your wealth.
If you’re serious about maximizing your tax savings, don’t miss out on this episode. Tune in for expert advice, share it with a friend, and subscribe to stay ahead of the curve on taxes, investments, and financial trends. Visit www.thetaxplanningpros.com or call (469) 343-1500 to start saving on taxes today!
In this episode of The Jeff Trapp Podcast, Jeff Trapp from The Tax Planning Pros covers questions about withdrawing money from retirement accounts before age 59½, explaining the steep tax penalties involved and exploring exceptions like medical expenses, education costs, first-time home purchases, and more. He also discusses IRS code section 72(t) and other specific circumstances that allow for penalty-free withdrawals.
If you're considering early withdrawals from your IRA or 401(k), this episode is packed with valuable insights. Tune in for actionable advice and don't forget to like, share, and subscribe to the podcast!
If you'd like to discover the benefits of tax planning, please visit https://www.thetaxplanningpros.com/contact-us#BookAConsultation to book a complementary consultation.
In this episode of The Jeff Trapp Podcast, Jeff explores actionable tax strategies for covering your children's school expenses without breaking the bank. Building on last week’s episode about funding college education, Jeff delves into a powerful tax loophole that allows you to hire your kids in your business, pay them tax-free, and use those funds for essential school costs—whether they’re in elementary, middle, or high school.
Jeff also highlights the upcoming September 15th tax deadline for S corporations and partnerships, emphasizing the importance of early document submission to maximize deductions.
Tune in to discover how to turn your children’s school expenses into tax savings. Don’t forget to like, share, and subscribe to stay updated on the latest tax planning insights. To see how these strategies can work for you, book a complementary consultation at https://www.thetaxplanningpros.com/contact-us#BookAConsultation.
As the back-to-school season kicks off, join Jeff Trapp on The Jeff Trapp Podcast to uncover the latest education tax strategies that can save you money. In this episode, Jeff dives into newly updated FAFSA rules, which introduce the "grandparent loophole," allowing grandparents to fund 529 plans without affecting financial aid. He also explores how leftover 529 funds can now be rolled into Roth IRAs tax-free, maximizing your savings.
Learn about key tax credits, such as the American Opportunity Tax Credit and Lifetime Learning Credit, and discover how these can significantly reduce your education expenses. Jeff also highlights the benefits of accelerated gifting and investing strategies within 529 plans, helping you stay ahead of rising college costs.
Tune in now for practical advice that could save your family thousands this school year. If you find this episode helpful, please like, share, and subscribe, and reach out to our tax team for personalized assistance at https://www.thetaxplanningpros.com/contact-us#BookAConsultation.