How do the new tips and overtime tax rules work?

Nik introduces deductions for qualified tips and overtime, clarifying they are deductions not tax eliminations and will be industry-limited.

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Trenton Hughes and Chris Munn for a jam-packed episode where we cover everything an entrepreneur needs to know right now.

We kick things off by debating which AI tools are worth paying for, from ChatGPT and Claude to Grok, and discuss how AI might soon replace your doctor.

Then, we dive into the new "big beautiful bill" and what its tax changes mean for you. I'll share why the accelerated depreciation clause is a "massive boon" for entrepreneurs and how you can leverage it by investing in real estate like car washes or storage facilities to potentially pay zero in taxes.

We also break down the confusing new rules on tips and overtime and why we think tipping should be abolished altogether.

Finally, we explore why smart salespeople are ditching Zoom for in-person meetings to close bigger deals.

Questions This Episode Answers

1. Which AI tools are essential for business owners today?

2. How can entrepreneurs use accelerated depreciation to save big on taxes?

3. Will the new tax bill really eliminate taxes on tips and overtime?

4. Why are successful salespeople returning to in-person meetings?

5. Is it a good time for business owners to invest in real estate?

Enjoy the conversation!

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