406. The S-Corp Secret Weapon for Video Pros with Amanda Han

Oct 7, 2024

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Episode notes

In this episode of the podcast, discover how to keep more of your hard-earned money with CPA and tax strategist Amanda Han. Learn game-changing strategies for video business owners, including the benefits of S-corps, smart write-offs, and using real estate to build wealth. Amanda shares practical tips to transform your approach to taxes and finance, helping you maximize profits and minimize stress.

Key Takeaways

Learn how transitioning to an S-corp could significantly reduce your tax bill and save you thousands
Discover often-overlooked tax write-offs for video professionals, including strategies for travel expenses
Explore how real estate investments can boost your wealth-building efforts and provide tax advantages
Understand the importance of regular bookkeeping and finding the right CPA to support your business goals

About Amanda Han

Amanda Han & Matt MacFarland are CPAs and tax strategists who specialize in helping people use real estate to save massive amounts in taxes and keep their hard earned money. They help educate investors on how to maximize tax write-offs, legal entity strategies, tax-efficient ways to access profit, how to use 401K money for real estate, and much more.

They are authors of the highly rated book Tax Strategies for the Savvy Real Estate Investor and they have been featured in prominent publications including the Forbes Finance Council, Money Magazine, Talks at Google, CNBC’s Smart Money Talk Radio as well as the BiggerPockets podcasts.

Today, Amanda & Matt have helped thousands of investors nationwide to save on taxes with proactive tax planning.

In This Episode

[00:00] Welcome to the show!
[05:52] Meet Amanda Han
[11:31] Write-Offs
[21:39] S-Corp Versus LLC
[35:08] Record-Keeping
[38:30] Real Estate
[47:01] Connect with Amanda
[49:55] Outro

Quotes

"It's not about how much money you make, it's about how much of it you actually get to keep." - Amanda Han, quoting Robert Kiyosaki

"Saving more money really is the same as making more money. When you save in taxes, that's the easiest money you can make because it was already your money to begin with." - Amanda Han

"We don't spend money for the write-off. The best way to do is to take a look at what we are already spending money on anyways, and say, how can I make sure this is a legitimate write-off?" - Amanda Han

"What got you here won't get you there." - Ryan Koral, discussing business growth and the need for fresh strategies

"I always look at what can we document before the trip, before that transaction, so that if it were to be questioned, I have a legitimate way to say, well, yeah, I spent $5,000 on that trip because I had these requests from these clients." - Amanda Han, on properly documenting business expenses