Episodes

  • 10 Biggest Tax Write Offs Small Businesses NEED to Reduce Taxes

    10 Biggest Tax Write Offs Small Businesses NEED to Reduce Taxes
    Nov 16 2025
    Special thanks to Xero for sponsoring this video! Please check them out with the link - https://xero5440.partnerlinks.io/Step...Want to go deeper? Join my Business Owner Bootcamp — 5 live private sessions where I help you build your personalized tax and wealth plan step-by-step. Learn to combine accountable plans, S-Corp optimization, and advanced retirement strategies.👉 https://stephenleecpa.com/business-owner-bootcamp/Free Download:Get your free Accountable Plan Setup Guide here: https://stephenleecpa.com/resource/accountable-plan-policy/Are you a business owner or side hustler who feels like half your paycheck disappears the moment tax season hits? Most entrepreneurs give thousands back to the IRS every single year not because they’re doing anything wrong, but because nobody ever showed them how to use business deductions the right way.00:00 Introduction: The Hidden Costs of Running a Business00:37 Understanding IRS Deductions01:08 Home Office Deductions Explained02:43 Maximizing Vehicle Expenses03:46 Depreciation and Section 17904:13 Business Meals and Travel04:36 The Importance of Tracking Expenses04:49 Xero: Simplifying Small Business Finances05:49 Rent, Utilities, and Wages06:35 Supplies, Insurance, and Other Deductions07:14 Record Keeping and Final Tips07:58 Conclusion: Keep More of What You EarnIn this video, I walk you through the Top 10 Small Business Tax Deductions for 2025, all fully legal and straight from the IRS rulebook. Whether you’re self-employed, running a small business, or generating income from a side hustle, these updated write-offs can help you keep way more of what you earn.You’ll learn the difference between ordinary and necessary expenses, how to maximize your home office deduction, when to use mileage vs. actual vehicle expenses, how Section 179 and bonus depreciation help with big purchases, and what the IRS really allows for meals, travel, utilities, contractors, wages, office supplies, insurance, and more.I also share why good record-keeping is the secret weapon of every smart business owner and why so many people lose thousands simply by not tracking expenses correctly.This video is sponsored by Xero, an accounting platform I personally use and recommend to my clients. It handles bank feeds, invoices, reconciliation, cash flow tracking, and keeps everything organized so you’re ready for tax season. Check the special offer in the description below.If you want a hands-on walkthrough to implement these strategies in your business, join my Business Owner Bootcamp, where I work with you 1-on-1 to build a personalized tax-saving system.Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves backed by real client experience.Subscribe for smart, actionable advice and take control of your financial future.The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    8 mins
  • IRS Tax Brackets + Capital Gains In 2026 | What You NEED To Know Now

    IRS Tax Brackets + Capital Gains In 2026 | What You NEED To Know Now
    Nov 9 2025

    Big changes are coming to your 2026 taxes and it’s not just the income tax brackets. In this video, we break down everything the IRS just announced, including the new 2026 tax brackets, capital gains updates, and standard deduction adjustments that could impact how much you owe next year.


    You’ll learn:

    ✅ The exact 2026 federal income tax brackets for single and married filers

    ✅ What’s changing with capital gains taxes and who it affects most

    ✅ Simple steps you can take now to lower your taxable income before these changes take effect


    Whether you’re filing solo, married, or investing in stocks and real estate, this breakdown helps you understand how to plan smarter and keep more of what you earn.


    🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.


    On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.


    Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.


    Subscribe for smart, actionable advice — and take control of your financial future.


    The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    7 mins
  • Make THIS a Habit Every Time You Get Paid

    Make THIS a Habit Every Time You Get Paid
    Nov 1 2025

    🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.


    On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.


    Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.


    Subscribe for smart, actionable advice — and take control of your financial future.


    The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    7 mins
  • Why High Earners Still Feel Broke (and How to Fix It)

    Why High Earners Still Feel Broke (and How to Fix It)
    Oct 26 2025

    📩 Apply Business Owner Bootcamp:

    https://stephenleecpa.com/business-owner-bootcamp/


    When you understand this formula, everything changes:

    ✅ You stop chasing higher income just to afford a higher lifestyle.

    ✅ You start building *real financial freedom* instead of lifestyle debt.

    ✅ You learn how to make your money work for you — not the other way around.


    The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    5 mins
  • Stop Living Paycheck to Paycheck: Build Real Wealth on Any Income

    Stop Living Paycheck to Paycheck: Build Real Wealth on Any Income
    Oct 17 2025
    Why do so many high-income earners still feel broke?You make good money… but where does it all go? In this video, Stephen Lee, CPA & Certified Private Wealth Advisor, breaks down why most people never build real wealth—and how you can fix it starting today.💡 Learn the 3 traps that keep professionals stuck living paycheck-to-paycheck:1️⃣ Lifestyle creep – earning more but spending more.2️⃣ Working harder instead of smarter – effort ≠ impact.3️⃣ No system for saving or investing – relying on willpower instead of automation.Then discover the 3-step system to finally build lasting wealth:✅ Define your Freedom Number ($500/month can change everything).✅ Automate your investing into an S&P 500 index fund or Roth IRA.✅ Simplify your finances with one rule — Pay Yourself First.00:00Introduction: Why High Income Doesn't Equal Wealth01:01The Wealth Gap: Key to Financial Freedom01:24Common Financial Traps to Avoid02:31Building a System for Saving and Investing03:49Real-Life Success Story: The Power of Consistency04:29Advanced Strategies for Business Owners05:00Conclusion and Next StepsThis episode is packed with real-world examples, including how one client turned a $60,000 investment into $100,000+ just by automating her plan.If you're a business owner or high-income professional ready to go beyond budgeting into intentional wealth building — with smarter tax strategies, S Corp planning, and long-term investing — apply for the business owner bootcamp.https://stephenleecpa.com/business-owner-bootcamp/#SmartMoneyStephen#StephenLeeCPA#WealthBuilding#FinancialFreedom#PersonalFinance#InvestingForBeginners#PayYourselfFirst#CompoundInterest#IndexFunds#MoneyMindset#SaveInvestRepeat#WealthMindset#MoneyHabits#FinancialIndependence#BusinessOwnerBootcamp#SCPortax#SmartMoneyMoves#HighIncomeProfessionals#FinancialLiteracy#CPATips🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    6 mins
  • S-Corp Owners Are Losing Money With This Mistake!

    S-Corp Owners Are Losing Money With This Mistake!
    Oct 10 2025
    If you’re an S-Corp owner paying yourself back for business expenses through payroll or distributions — stop right now. You could be throwing away thousands of dollars in unnecessary taxes every single year.In this video, Stephen Lee, CPA, CPWA®, breaks down one of the most powerful IRS-approved S-Corp tax strategies that 99% of business owners (and even CPAs!) don’t know about — the Accountable Plan.#SCorpTaxes#TaxSavings#SmallBusinessTips#CPATips#BusinessOwner#SmartMoneyMoves#TaxStrategy#IRSApproved#WealthBuilding#AccountablePlan#EntrepreneurFinance#StephenLeeCPA💼 Learn how to:✅ Reimburse yourself tax-free for travel, meals, home office, and other business expenses✅ Avoid payroll taxes on reimbursements that should never be taxed✅ Implement the 3 IRS rules that make your plan bulletproof✅ Use the home office reimbursement to save thousands more✅ Combine this with other S-Corp strategies like salary optimization and retirement contributions for massive tax savingsThis isn’t a loophole — it’s IRS-approved, court-tested, and 100% legal when done right.🔑 What You’ll Discover:How the Accountable Plan can save S-Corp owners $5,000–$20,000+ per yearThe top 4 mistakes that cause IRS reclassification and auditsA step-by-step setup guide for your own S-Corp accountable planA bonus strategy for reimbursing your home office expenses tax-freeHow to legally “stack” strategies to create long-term tax-efficient wealth🚀 Want to go deeper? Join my Business Owner Bootcamp — 5 live private sessions where I help you build your personalized tax and wealth plan step-by-step. Learn to combine accountable plans, S-Corp optimization, and advanced retirement strategies.👉https://stephenleecpa.com/business-owner-bootcamp/📘 Free Download:Get your free Accountable Plan Setup Guide here:https://stephenleecpa.com/resource/accountable-plan-policy/About Stephen Lee, CPA, CPWA®I help business owners and high-income professionals legally save thousands in taxes, build wealth, and optimize their S-Corp strategy. Subscribe for more smart tax planning, wealth-building, and business finance videos.00:00Introduction: Stop Throwing Money Away!00:46Meet Sarah: A Case Study01:30The Secret Strategy: Accountable Plans02:31IRS Rules for Accountable Plans03:26Common Mistakes to Avoid04:14Bonus Strategy: Home Office Reimbursement05:05Step-by-Step Implementation Guide05:50Advanced Tax Strategies and Bootcamp06:42Conclusion and Free Resources🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    7 mins
  • CPA Explains | 4 Easy Ways Business Owners Can Grow Retirement Money Fast

    CPA Explains | 4 Easy Ways Business Owners Can Grow Retirement Money Fast
    Oct 3 2025

    #SCorp

    #TaxSavings

    #RetirementPlanning

    #SmallBusinessOwner

    #WealthBuilding

    #Solo401k

    #SEPIra

    #MegaBackdoorRoth

    #CashBalancePlan

    #BusinessTaxes

    #TaxStrategy

    #FinancialFreedom

    #SmartMoneyMoves


    💰 What if you could save $50,000, $100,000, or even $200,000 in taxes this year while building massive retirement wealth? If you own an S-Corp and your income is growing, these 4 powerful retirement strategies could completely change the game for your financial future.


    ✅ Solo 401(k) – Maximize your contributions and cut your tax bill.✅ SEP IRA – Deduct up to $70,000 while saving for retirement.✅ Mega Backdoor Roth – Unlock advanced Roth savings strategies beyond traditional limits.✅ Cash Balance Plan (Defined Benefit Plan) – Supercharge retirement contributions, especially for high-income earners.


    These S-Corp retirement strategies can help you:

    • Slash your federal and state tax liability
    • Supercharge your retirement savings
    • Avoid the common mistakes business owners make with W-2 salary and contributions
    • Build a tax-efficient wealth plan that grows year after year

    ⚠️ Don’t wait—most of these strategies must be in place by December 31st to count for this tax year.


    👉 And if this feels overwhelming, I’d love to help you implement these strategies step-by-step. Join me in my Business Owner Bootcamp this October: 5 live interactive sessions where we’ll cover advanced tax planning, entity structure, estimated taxes, and retirement planning. Spots are limited—apply today using the link below.


    🔗 Apply here:

    https://stephenleecpa.com/business-owner-bootcamp/


    If you’re a small business owner, entrepreneur, or high-income professional, these strategies could easily be worth tens of thousands in tax savings every single year.


    Don’t leave money on the table—plan smart, save more, and build wealth the right way.


    🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.


    On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.


    Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.


    Subscribe for smart, actionable advice — and take control of your financial future.


    The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    7 mins
  • CPA Explains | How I Saved a Client $80,000 in Taxes with This ONE IRS Formula

    CPA Explains | How I Saved a Client $80,000 in Taxes with This ONE IRS Formula
    Sep 26 2025
    What if I told you the wrong S-Corp reasonable compensation could cost you over $20,000 in IRS penalties—and that one small business owner avoided an $80,000 tax bill with the right strategy? In this video, I’ll expose the IRS-approved methods to calculate your salary the right way and protect your business from audits.Too many entrepreneurs, LLC and S-Corp owners are guessing their wages using outdated “50/50” or “60/40” rules—and losing tens of thousands of dollars to unnecessary payroll taxes or facing devastating IRS audits. Don’t let bad advice drain your profits.I’ll break down:✅ The 3 IRS-approved methods for calculating reasonable compensation (Market, Income, and Cost / “Many Hats” Approach)✅ A real client case study where we saved over $80,000 in taxes✅ The biggest IRS red flags that trigger audits for small business owners✅ How to document your salary so it’s audit-proof and tax-efficientWhether you’re a self-employed business owner, entrepreneur, doctor, consultant, or S-Corp shareholder, understanding reasonable compensation is critical to reducing taxes and keeping more of what you earn.📌 FREE RESOURCE: Download my one-page guide on calculating an IRS-proof S-Corp salary →https://stephenleecpa.com/resource/irs-proof-reasonable-compensation/📌 NEXT STEP: Apply for my 5-session Business Owner Bootcamp starting this October to create your personalized strategic tax plan, including quarterly tax planning, deductions, and reasonable compensation →https://stephenleecpa.com/business-owner-bootcamp/Timestamps:00:00Introduction: The High Stakes of S-Corp Salaries01:06The Risks of Incorrect Compensation01:36Bootcamp Announcement01:54Case Study: Saving $80,00003:33Debunking Common Myths04:28The Many Hats Formula05:29Red Flags and Documentation06:08Conclusion and Next StepsAbout This Channel:I’m Stephen Lee, CPA, CPWA®, and I help high-income professionals and small business owners reduce taxes, grow wealth, and protect their money. Subscribe for weekly videos on:💰 Tax strategies for entrepreneurs & business owners📊 S-Corp, LLC, and 1099 tax planning📈 Retirement planning and wealth-building tips⚖️ Audit-proof strategies that keep more cash in your pocket#SCorp#Taxes#SmallBusiness#Entrepreneur#TaxSavings#ReasonableCompensation#IRS#BusinessOwner🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
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    7 mins