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Rich Smith

Teaching Millionaires

Teaching Millionaires is a podcast about personal finance, money management, saving and investing for retirement, and the journey to becoming financially independent. Hosted by Rich Smith, the show serves a community of lifelong learners helping them to understand how to become successful with their money.

Auteur

Rich Smith

Catégorie

Education

Site du podcast

TeachingMillionaires.com

Dernier épisode

4 juil. 2025

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Épisodes

Why I Shut Down My Channel (The Story I've Never Told You) 04.07.2025

👉 Join the waitlist for my book The Encouragement Economy: https://pages.teachingmillionaires.com/book 👉 Connect in our private Facebook group: https://teachingmillionaires.com/fbgroup   Why I Shut Down My Channel (The Story I've Never Told You) — After building a growing YouTube channel, a thriving business, and reaching net worth millionaire status, I shut it ALL down overnight. No more videos...

I Made $6.77. It Changed Everything 01.07.2025

I made $6.77 from YouTube. That tiny amount changed everything - my career, my family's future, my entire life trajectory. This is the real story of how a full-time teacher recording videos in his kitchen built something that transformed everything. From staying up until midnight editing while teaching full-time to helping thousands of families build wealth - this journey taught me that showing up...

How My Side Hustle Made Me $1,000,000 (Tax Strategy) 27.06.2025

How my side hustle hit $1,000,000 with ONE tax strategy I almost missed. This isn't about get-rich-quick schemes – it's about the boring, profitable move that changes everything. The moment I realized I was leaving $30,000+ on the table every year as a former teacher turned YouTuber. Here's the exact S-Corp election strategy that shifted my entire financial future.   👉 Join our private Facebook c...

I Called In "Sick" and Never Went Back to My 9-5 24.06.2025

🚨 It was 7:27 AM and I was supposed to be at work in 42 minutes. Instead, I called in sick. Not flu-sick ... DONE-sick. After 18 years as a classroom teacher, I finally had my breaking point moment. This is the raw, unfiltered story of the morning I knew I could never go back to the 9-5 grind. My accountant hit me with news that changed everything: "You made more from YouTube than teaching this m...

$50K Tax Credit 99% of Startups Miss (Get Yours Now) 20.06.2025

🚨 MOST STARTUPS ARE MISSING OUT on at least a $50,000+ federal tax credit that could fund their next product launch! If you're building something new, solving technical problems, or have engineers on payroll - you probably already qualify for the R&D Tax Credit. You don't need to be profitable, venture-backed, or even a tech company.   👉  R&D Tax Credit Qualifying Questionnaire: https://randdexp...

Why You Shouldn't Pay Off Your Mortgage Early (Until You Hear This) 17.06.2025

Should you pay off your mortgage early? I did it, but now I have a completely different perspective that could save you thousands. Most people think about opportunity cost wrong - here's what I wish I knew before making my choice. In this video, I share my personal mortgage payoff story and reveal the critical question every homeowner needs to ask: Are you actually investing the difference? Plus,...

How To Save Millions For Your Family Before Dec 31st 13.06.2025

The estate tax exemption is about to be CUT IN HALF on December 31st. If you're a business owner or high net worth individual, this could cost your family millions in taxes. In this video, I break down the Optimized Gift Trust (OGT) - a strategy that could lock in today's $13.99 million exemption before it drops to $7 million. The math is shocking: waiting could mean a $5.2 million tax bill for yo...

How a Fee Simple Donation Saved $160K in Taxes 10.06.2025

Luis was making $1.2 million annually but paying nearly $500K in taxes. Despite maxing out retirement accounts, he felt trapped by his tax bill. Then he discovered fee simple donation strategies. In this video, I break down exactly how fee simple donations work, the compliance requirements, and who qualifies. Luis used his savings to take a three-month sabbatical and start his dream business. This...

The 5 Levels of Tax Write-Offs (You're Probably Missing Levels 4 & 5) 06.06.2025

You're probably missing Levels 4 & 5 of tax write-offs - and that's where the biggest savings are hiding. Most business owners only use 40% of available deductions because they stop at Level 2. In this video, I reveal all 5 levels of tax strategy that could save you tens of thousands annually. The tax code wasn't designed to punish entrepreneurs - it was built to reward business owners who know ho...

$40,000 Pool Deduction: Weirdest Write-Off I've Ever Seen 03.06.2025

When Dr. Emily told me she deducted her $40,000 backyard pool as a medical expense, I thought she was crazy. But she had the IRS paperwork to prove it was 100% legal.   In this video, I break down exactly how she did it, what documentation she needed, and the specific IRS rules that made it possible. Plus, I'll share other surprising tax deductions you've probably never heard of - including elevat...

Missed This $500K Deduction? (179D Tax Strategy Explained) 30.05.2025

There's a tax deduction that could save you up to $5 per square foot just for upgrading lighting, HVAC, or insulation. One of my clients saved $500,000 on a project he was already doing - and he nearly missed it because he found out almost too late.   In this video, I break down the 179D tax deduction - one of the most underused tax incentives available to property owners, operators, and designers...

The Charity Tax Loophole That Saves High Earners $500K+ 27.05.2025

There's a charity tax loophole that high earners are using to save $500K+ while building generational wealth - and most people have never heard of it. My client Sunni used this exact strategy to potentially save hundreds of thousands in taxes, and I'm breaking down exactly how it works.   The OCLAT (Optimized Charitable Annuity Trust) Strategy Revealed: ✅ How this charity "loophole" can cut your...

The Government Pays You For Home Upgrades? 45L Tax Credit EXPLAINED 23.05.2025

Discover how the government will literally PAY YOU to make energy-efficient upgrades to your properties through the Section 45L tax credit. In this video, I reveal how my friend Zach accidentally qualified for $25,000 in tax credits on his 10-unit building - and how YOU can claim up to $5,000 PER UNIT on your projects!   🏠 This isn't just for big developers - it works for: - New construction proj...

Tech Millionaire Tax Trick: How to Save $175K Legally 20.05.2025

How high-income tech professionals legally reduce their tax burden by moving from defense to offense. Learn the Level 4 tax strategies that helped a tech couple save $175,000 in taxes in just one year without breaking any rules. In this video, I share the story of Sunni, a tech professional making seven figures along with his wife, who was paying over 50% in taxes despite doing everything "right."...

IRS Rule: Pay Your Kids Tax-Free (Legal Business Hack) 16.05.2025

🔥 TAX HACK ALERT: The IRS actually allows business owners to pay their kids tax-free when done correctly. In this video, I break down the exact strategy my accountant Jeff taught me about legally hiring your children, saving thousands in taxes, and building generational wealth.   👶 Learn how to: - Pay your kids through your business (tax-free under certain conditions) - Deduct their wages as leg...

$22,000 Solo 401(k) Secret Advisors Won't Share 13.05.2025

I discovered a retirement strategy that saved me $22,000 in taxes in ONE YEAR, and most financial advisors won't tell entrepreneurs about it. In this video, I reveal exactly how switching from a SEP IRA to a Solo 401(k) can potentially TRIPLE your tax-advantaged retirement contributions. Perfect for freelancers, consultants, small business owners, and side hustlers with no full-time employees.   ⏱...

$50K Tax Savings Most Landlords Miss (Cost Segregation) 09.05.2025

This hidden tax strategy could save real estate investors $50,000+ in taxes WITHOUT renovating their properties. My friend Greg almost missed out on $47,000 in tax savings because his CPA never told him about cost segregation.   Learn how to: ✅ Legally accelerate depreciation on rental properties ✅ Reclassify components to 5, 7, and 15-year schedules instead of 27.5 years ✅ Apply this to proper...

How One Credit Card Gets Us $7,500 in Free Family Vacations Every Year 06.05.2025

Discover how my family enjoys luxury all-inclusive beach vacations worth $7,500+ completely FREE every year using a simple credit card strategy that anyone can use - even without travel hacking experience! I reveal exactly how the Wyndham Rewards Earner Business Card lets us stay 5-7 nights at the Ultra Cancun oceanfront resort with unlimited food, drinks, and kids club access - without spending a...

$100K College Fund Mistake: New IRS Rules Changed Everything 02.05.2025

I almost made a $100K mistake with my kids' college savings. In this video, I reveal how the new IRS rules for 529 plans completely changed my saving strategy and potentially saved me from a costly error. I break down: - The traditional 529 college savings approach and its hidden risks - The game-changing 2024 IRS rule allowing 529-to-Roth IRA conversions - How to build a true financial "launchpad...

I Almost Lost My S-Corp Status | Avoid This IRS Mistake 29.04.2025

A simple payroll mistake almost cost me my S-Corp status and thousands in IRS penalties. I share my story and how my friend Ashley actually DID lose her status - resulting in years of tax problems.   Learn the critical S-Corp requirements the IRS demands: - Why proper payroll is non-negotiable - How to determine your "reasonable salary" - The exact system I use to stay penalty-free   🔗 GUSTO PAYR...

IRS HATES This Car Tax Write-Off (Business Owner Guide) 25.04.2025

The truth about writing off your vehicle as a business owner that nobody tells you. My contractor buddy Mike bought a $92,000 truck thinking it was a "full tax write-off" - but is the IRS really okay with that?   In this video, I break down: - The two methods for vehicle tax deductions (standard mileage vs. actual expenses) - Common vehicle deduction myths that could trigger an audit - How Section...

Zero Taxes. Massive Wealth. Here's the Strategy. 22.04.2025

Discover the legal strategy billionaires use to pay zero in taxes while building massive wealth. I break down how Buy. Borrow. Die. works—and how everyday people like my friends Andy and Corey are already using it. You'll learn: - How billionaires like Bezos, Musk, and Zuckerberg legally pay $0 in taxes - Why buying appreciating assets is the foundation of tax-free wealth - How borrowing against a...

Market Crash: What Smart Investors Do Now (No Panic) 15.04.2025

The stock market just crashed, and everyone's feeling it. But before you panic or make rash decisions, watch this video for my proven approach to navigating market downturns. In this video, I share: - Why panic selling is the biggest mistake investors make - The strategic moves I'm personally making right now - How past crashes created the best buying opportunities - A real-life example of managin...

This LLC Mistake Cost Me $12,000 10.04.2025

That pit in your stomach when you know you should do something but don't? For me, procrastinating on forming my LLC cost me $12,000 in taxes that I could have saved. In this video, I share how I went from teacher with a side hustle to business owner, and the expensive lesson I learned about S-Corp election deadlines. Perfect for side hustlers, educators with extra income, or anyone sitting on the...

How To Handle A 40% Stock Portfolio Drop Successfully 08.04.2025

STOP PANICKING about your crashing portfolio! In this video, I reveal how I turned a devastating 40% stock loss into a powerful tax advantage using a strategy that 79% of investors completely ignore. With the recent market crash sending portfolios plummeting, my tax loss harvesting strategy shows you how to: ✅ Transform market losses into immediate tax savings ✅ Potentially save $3,200+ on your...

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