WCI #353: Lesser Known Tax Strategies

Feb 8, 2024

In this podcast, Alexis Gallati of Cerebral Tax Advisors discusses controversial tax deductions such as land conservation easements, captive insurance companies, self rentals, employing your spouse or children, and cost segregation studies. The hosts emphasize the importance of caution and qualification when utilizing these deductions. They also touch on topics such as tax loss harvesting, setting low salaries for S Corps, and the role of whole life insurance as a tax mitigation strategy.

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Introduction

00:00 • 2min

Physician Wellness and Financial Literacy Conference and Introduction of Alexis Galotti

01:51 • 4min

Controversial Tax Deduction Strategies: Land Conservation Easements

06:09 • 25min

Tax Loss Harvesting and Setting a Low Salary for S Corps

30:40 • 4min

Consequences of Improper Salary Setting and the Importance of Payroll Taxes

34:57 • 2min

Exploring Controversial Tax Deductions

37:15 • 13min

Controversial and Aggressive Tax Deductions and the Role of Whole Life Insurance

50:37 • 4min

Upcoming events, listener appreciation, and a reminder about professional advice

54:40 • 3min

Today we are talking to Alexis Gallati of Cerebral Tax Advisors all about controversial, aggressive and often little known tax deductions. We ask her about all kinds of topics and how to execute on them in a way that will not get us into trouble with the IRS. We talk about when they are risky, when they aren't risky and if you should use them or not. Some topics we cover are land conservation easements, captive insurance companies, self rentals, employing your spouse or children, cost segregations studies and much more.

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