How to Write Off Your Life with Barbara Schreihans | Episode 130 Artwork

Quiet Wealth

Only 15% of america’s millionaires are self-made women, and I’m one of them. Personally, I don’t love that number, and that’s why I’m here to help you do it, too.

By now you’ve probably been asking yourself some of the questions I hear most often:

Do I need my own business?

How can I create passive income?

How do I protect my wealth as I continue growing it?

How do I teach my kids to be better at money than I was?

How do I REALLY invest and not just use a financial advisor?

And the biggest question of all, How do I WIN the money game?

Whether you’re a corporate VP, a small business owner, or a stay at home parent, if you’re invested in building generational wealth for your family, you’re in the right place.

I’m Camilla Jeffs. I’m a mom of 5, I own 5 businesses and I’m a general partner for a $200 million dollar real estate portfolio, and I built it from the ground up. I had to work really hard to acquire the financial knowledge it took to get my family out of the whole and into a stable financial position and I created Quiet Wealth as a resource for other women just like me - the CFO’s of their family that are committed to building generational wealth.

In this podcast, we’ll discuss the money mindset shift for success, investment strategies for the modern family, tax hacks and tools to set your kids up for financial success.

If you’ve ever been nervous to talk about money, or you’ve felt like it was taboo…you’re not alone. Women are made to feel like money isn’t a conversation for them - and at Quiet Wealth, we’re committed to changing that. I feel strongly that if we don’t talk about this, that number of self made female millionaires will never change.

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Quiet Wealth

How to Write Off Your Life with Barbara Schreihans | Episode 130

May 23, 2024 • Camilla • Episode 130

Taxes can be overwhelming, but write-offs can help you save big.

In this episode, Camilla Jeffs sits down with tax expert Barbara Schreihans to discuss strategies for maximizing write-offs and optimizing tax savings.

Barbara emphasizes the importance of choosing the right business structure, such as an LLC or S Corporation, to ensure that you're taking advantage of every available tax benefit. She also explores how to maximize home office and vehicle expense deductions, and how to write off business trips.

She also cautions against premature property gifting, as well as the potential tax benefits of including your children in your family business.

Don't miss out on these valuable tax tips! Listen to the latest episode of Quiet Wealth now, and don't forget to share with friends and family. Be sure to subscribe for future episodes on money management, entrepreneurship, and more.

In this episode, we talk about:
• The importance of business structure in tax implications
• Maximizing deductions for home offices, vehicle expenses, and business travel
• Leveraging additional spaces within the home for home office deductions
• Considerations for purchasing or leasing vehicles for business use
• Writing off business travel expenses
• Tax implications of gifting real estate to children
• Contributing to a Roth IRA for your kids

Resources:

NerdWallet - https://www.nerdwallet.com/

Write Off Your Life - https://yourtaxcoach.com/write-off-your-life

Write Off Your Real Estate - https://yourtaxcoach.com/write-off-your-real-estate

Minted Wealth Live - https://www.mintedwealthcollective.com/minted-wealth-live

Connect with Barbara Schreihans

Your Tax Coach - https://yourtaxcoach.com/

Your Tax Coach LinkedIn - https://www.linkedin.com/company/your-tax-coach/

Tax Strategies for Business Owners Facebook Group - https://www.facebook.com/groups/266561378659270

LinkedIn - https://www.linkedin.com/in/barbara-schreihans/

TikTok - https://www.tiktok.com/@your.tax.coach

Instagram - https://www.instagram.com/yourtaxcoach/

YouTube - https://www.youtube.com/channel/UCP27A8bBgRnD1y6-qJ6s2dA

Life Changing Money Podcast - https://life-changing-money-with-barbara-schreihans.simplecast.com/