The Tax Strategy Podcast with Fexingo: Tax Planning, Deductions, and Saving Money on Taxes

Hiring a nanny or housekeeper comes with tax responsibilities most people don't anticipate. In this episode of The Tax Strategy Podcast, Lucas and Luna break down the 'nanny tax' — the federal and state employment tax obligations for household employers. They walk through the $2,700 cash-pay threshold that triggers FICA taxes, the Schedule H filing process, and the surprising fact that even part-t...

Lucas and Luna unpack Section 1031 of the Internal Revenue Code — the like-kind exchange — which lets real estate investors defer capital gains taxes when swapping one investment property for another. They explain the strict timeline (45 days to identify, 180 days to close), the 'boot' trap that triggers immediate tax on cash or mortgage relief, and the recent tightening of rules for personal prop...

In this episode of The Tax Strategy Podcast, Lucas and Luna break down the de minimis safe harbor rules under IRS Revenue Procedure 2025-18. They explain how small business owners can immediately deduct assets under $2,500 (or $500 for taxpayers without applicable financial statements) rather than capitalizing and depreciating them over time. Using a real-world example of a freelance photographer...

If you're a passive investor in an LLC or partnership, you might be surprised by the tax complications of Schedule K-1 — late filings, phantom income, and state filing nightmares. In this episode, Lucas and Luna break down the hidden costs of K-1 income, why it often arrives after the April deadline, how it can trigger estimated tax penalties, and a real-world example from a real estate syndicatio...

If you own foreign stocks or work abroad, the IRS wants its cut. But so does the foreign government. That's where the Foreign Tax Credit comes in — a provision that lets you offset taxes paid to other countries against your U.S. tax bill. In this episode, Lucas and Luna walk through how the credit works, who qualifies, and where the strategy gets tricky. They break down the difference between the...

Episode 99 of The Tax Strategy Podcast digs into the net investment income tax, or Medicare surtax, which applies an extra 3.8 percent to investment income for single filers earning over $200,000 and joint filers over $250,000. Lucas and Luna explain who gets hit, how the thresholds work, and a real example: a married couple with $300,000 in salary and $40,000 in rental income faces an extra $1,52...

In this episode of The Tax Strategy Podcast, Lucas and Luna explain how tax-loss harvesting can turn stock market losses into a tax advantage in 2026. They walk through a real-world example of an investor who sold losing positions in June to offset gains from selling a rental property, illustrating the wash sale rule, carryforward mechanics, and how to calculate net tax savings. The hosts also dis...

In this episode of The Tax Strategy Podcast, Lucas and Luna break down the 2026 Child Tax Credit rules — including the $2,000 per child base, the phaseout thresholds, the refundable Additional Child Tax Credit, and the impact of the TCJA sunset changes. With specific income examples and filing strategies, they explain how families with two children earning $110,000 can maximize their credit and av...

Lucas and Luna walk through the tax consequences of selling a rental property in 2026, focusing on depreciation recapture, Section 121 exclusion limits, and the 3.8 percent net investment income tax. They use a concrete example: a property bought for $300,000, depreciated over 27.5 years, and sold for $450,000. Lucas explains how the unrecaptured Section 1250 gain is taxed at a maximum 25 percent,...

Episode 95 of The Tax Strategy Podcast explores the Qualified Business Income (QBI) deduction under Section 199A. Lucas and Luna break down how the deduction works for pass-through business owners in 2026, including the phaseout thresholds, the impact of the TCJA sunset, and the difference between specified service trades or businesses and other enterprises. They walk through a concrete example: a...

Episode 94 of The Tax Strategy Podcast with Fexingo breaks down how inflation-adjusted tax brackets actually affect your 2026 tax bill. Lucas and Luna walk through the specific 2026 bracket thresholds for single filers, explain why 'bracket creep' is less of a concern now, and show how the standard deduction increase interacts with ordinary income. They use a concrete example: a single taxpayer ea...

In this episode of The Tax Strategy Podcast with Fexingo, Lucas and Luna break down the new Schedule C reporting requirements for side hustle income starting in 2026. They focus on the lowered $5,000 threshold for digital payment platforms and explain why services like Venmo and PayPal now issue Form 1099-K for nearly any side cash. The hosts walk through a concrete example: a freelance graphic de...

Lucas and Luna break down the biggest tax change coming in 2026: the scheduled sunset of key TCJA provisions. They walk through which brackets revert, why the standard deduction will nearly halve, and how the child tax credit drops from $2,000 to $1,000 per child. Using a concrete example of a married couple earning $150,000 with two kids, they calculate a roughly $5,200 tax increase. The hosts al...

Lucas and Luna break down the tax-equivalent yield on municipal bonds, explaining why a 3.5 percent muni can beat a 5 percent corporate bond for high-income investors. They walk through the math using a real-world example: a single filer in the 37 percent bracket plus the 3.8 percent net investment income tax, showing exactly how to calculate whether munis make sense in your portfolio. The episode...

Lucas and Luna break down the Qualified Charitable Distribution (QCD) strategy for 2026 — the tax-savvy way to donate from your IRA. With the SECURE Act changes and the standard deduction still high, the QCD lets taxpayers over 70½ give up to $108,000 directly to charity, counting toward their Required Minimum Distribution without triggering taxable income. They walk through a concrete example: a...

Episode 89 of The Tax Strategy Podcast dives into the home office deduction for 2026. Lucas and Luna break down the two calculation methods — the simplified option at $5 per square foot and the regular method with actual expenses — and walk through the strict exclusive-use test. They discuss a real-world example: a freelance graphic designer who converted a 200-square-foot spare bedroom into an of...

Lucas and Luna unpack the net operating loss (NOL) deduction under current law — how the Tax Cuts and Jobs Act eliminated NOL carrybacks, capped carryforwards at 80% of taxable income, and removed the two-year special rules. They walk through a concrete example: a boutique manufacturer that lost $500,000 in 2025 and how those losses offset future income under the 2026 rules. The episode also cover...

Episode 87 of The Tax Strategy Podcast tackles the wash sale rule — but not for stocks. Lucas and Luna explain how the IRS applies this rule to cryptocurrency trades in 2026, a change that caught many retail investors off guard. They walk through a concrete example: a trader who sold Bitcoin at a loss in March, then bought it back within 30 days, and how that disallowed the loss for tax purposes....

Lucas and Luna break down the kiddie tax rule for 2026 — the IRS provision that taxes a child's unearned income at the parents' marginal rate. They walk through the specific thresholds: the first $1,300 of unearned income is tax-free, the next $1,300 is taxed at the child's rate, and anything above $2,600 is hit with the parents' rate. Using a concrete example of a family with a teen who earned $4...

Episode 85 of The Tax Strategy Podcast with Fexingo digs into the capital loss carryforward rule — a powerful but often overlooked tool for tax planning. Lucas and Luna walk through how selling a losing stock in July 2026 creates a tax asset that can offset future capital gains and even ordinary income up to $3,000 per year. They use a concrete example: a fictional $15,000 realized loss on a biote...

Episode 84 of The Tax Strategy Podcast breaks down the $10,000 SALT deduction cap, which remains in effect for 2026 after the Tax Cuts and Jobs Act sunset. Lucas and Luna explore strategies for taxpayers in high-tax states like California and New York, including bunching deductions, the workaround of pass-through entity taxes adopted by over 30 states, and the impact on itemizing versus claiming t...

Lucas and Luna unpack the so-called nanny tax — the legal obligations when you hire a household worker like a nanny, housekeeper, or caregiver. In 2026, the threshold for paying Social Security and Medicare taxes is $2,800 in cash wages per year, up from $2,700 in 2025. They walk through the forms you need: Schedule H attached to your 1040, and an employer identification number from the IRS. They...

In this episode, Lucas and Luna break down how the IRS treats cryptocurrency mining and staking rewards for the 2026 tax year. They cover the difference between mining as a hobby vs. a business, how to calculate taxable income when you receive a block reward or staking payout, and the key tax forms you'll need. They also discuss the IRS's updated guidance on staking issued last year, the impact on...

Lucas and Luna break down the donor-advised fund (DAF) strategy for high-income earners looking to maximize charitable deductions in 2026. They walk through how a DAF works, the tax mechanics of bunching contributions, and the new SECURE 2.0 QCD-to-DAF rule that just took effect. Lucas uses a concrete example: a couple earning $450,000 who want to give $20,000 annually to charity but can't itemize...

Episode 80 of The Tax Strategy Podcast breaks down the Backdoor Roth IRA maneuver for high earners in 2026. Lucas explains the mechanics: contribute to a traditional IRA, then convert to a Roth IRA. Luna raises the pro-rata rule trap when you have existing pre-tax IRA balances. They walk through a concrete example of a single filer earning $180,000, show how to avoid the income limit on direct Rot...