Q&A: Write Offs, LLCs, Deductions and More | Episode 15

In this episode, Michael is joined by his wife Jacqueline (who's wearing all his clothes, apparently) for a casual chat that starts with some of Jacqueline's questions she hears about money recently to get those questions answered.

They cover:

💭 What an LLC actually does — and what it doesn’t do for taxes

💭 The difference between tax avoidance (smart) and tax evasion (illegal)

💭 What’s better: getting rich quick or building wealth the slow and steady way?

💭 Common money misconceptions small business owners fall for

💭 Why “write it off” ≠ “get it for free”

💭 And a reminder: hard work, patience, and planning still works (even if tjat doesn’t create trends on TikTok)

We also unpack some of the common misconceptions about “tax hacks” you see online and how to tell the difference between tax avoidance (legal) and tax evasion (not so much).

👕 Featuring guest co-host: my wife (and her borrowed hoodie).