The Jeff Trapp Podcast

Welcome to The Jeff Trapp Podcast, where your host, Jeff, dives deep into the world of tax strategy, best investments, and business growth. If you're an entrepreneur or business owner navigating the volatile landscapes of the stock market, real estate, or even crypto, this podcast is your go-to resource. Jeff brings his expertise as a tax strategist to help you make sense of S-Corporations, pa...

In this special installment of The Jeff Trapp Podcast, Jeff focuses on estimated tax payments, an essential topic as the corporate tax deadlines and third-quarter estimated payments for 2023 loom. Jeff goes into detail about the serious penalties that await S corps and partnerships that miss filing deadlines. But it's not just a warning; Jeff offers practical advice on how to accurately calcul...

In this enlightening episode of The Jeff Trapp Podcast, host Jeff Trapp delves into the intricacies of building long-term wealth and legacy for your family through strategic tax planning so that you and your family can live the American Dream. As part of the discussion he covers the types of strategies that can help you keep more of your hard-earned money including starting up Roth IRA's for c...

Welcome to The Jeff Trapp Podcast! If you're an ambitious entrepreneur or small business owner with a knack for maximizing opportunities, you're in the right place. Join Jeff as he breaks down the complexities of business and taxation in a refreshingly relatable manner. In this episode, Jeff delves into a crucial topic for business owners: the Employee Retention Credit. Are you getting tho...

Welcome to the Jeff Trapp Podcast! In this episode, Jeff dives into a crucial question that plagues many business owners: How do you differentiate between contractors and employees for tax purposes? Delve into the distinctions that matter, such as control, tax withholding, benefits, and expense reimbursement. Jeff expertly guides you through the nuances, ensuring you stay compliant with evolving l...

In the Jeff Trapp Podcast, host Jeff Trapp delves into tax strategies, especially with the back-to-school season in full swing. Many are unaware of the potential tax benefits tied to education, which is why Jeff sets out in this episode to break these down for his audience. Whether discussing the American Opportunity tax credit, which could grant eligible students a significant financial boost dur...

Welcome to this week's episode of The Jeff Trapp Podcast. In this episode, Jeff delves into the pulse of the current economy, discussing the Federal Reserve's latest moves, and assesses the potential market implications. With the summer season winding down, he provides a timely reminder about impending tax filing deadlines and offers critical advice on entity structuring. Jeff stresses the...

In this episode of the Jeff Trapp Podcast, Jeff dives into one of his all-time favorite tax strategies that can save you a ton of money on taxes. Forget complex schemes and loopholes – the key to maximizing deductions and building long-term wealth lies in understanding your financial statements every month. So in this round, Jeff shares real stories of clients who thought their bookkeepers had eve...

In the latest episode of "Behind the Scenes with Jeff Trapp," we get an exclusive look into Jeff's transformation from a teenage part-time employee at a pizza shop to a leading tax strategist and entrepreneur. Jeff shares intimate stories of his early encounters with taxation, his explorations into various professions, and the culmination of his experiences into establishing The Tax...

In the latest episode of "Jeff Trapp Podcast," Jeff dives into how different incomes are taxed. He explains that in the U.S., taxes are based on a progressive system where the tax rate increases with income, ranging from 10% to 37%, and varies depending on the type of income. For example, earned income (like salary or wages) is subject to multiple tax bracket rates. Jeff takes the discus...

Welcome to the Jeff Trapp Podcast! In this episode, Jeff dives deep into the world of tax planning and the common mistakes that business owners often make when they attempt to go the DIY route. Drawing from his recent experience at a Mastermind event, where he engaged with 250 business owners during a lively Q&A panel, Jeff addresses a thought-provoking question for business owners: Can one ef...

Hey folks, welcome to the Jeff Trapp Podcast. We're thrilled that you're tuning in today. We’ve got a somewhat unusual episode lined up as we gear up for the holiday weekend and 4th of July celebrations. Freedom is in the air, and what better way to kick things off than discussing what you can and can't deduct as you partake in this holiday's festivities, be it on the road or at a...

Welcome to the Jeff Trapp Podcast. If you haven't heard, there is a lot happening in the economy, and with taxation. So with that said, Jeff is diving into the economy, where things stand with regard to inflation, and as it relates to your taxes. He'll then discuss a new bill, 'The American Families & Jobs Act,' that was proposed and passed in The House of Representatives. It i...

We know that this year business meals are only 50% deductible. However, that doesn't mean you can't find opportunities within the tax code to deduct 100% of a business meal. So today on The Jeff Trapp Podcast we'll continue with part two of the 100% Business Meal Deduction Tips episode. Jeff will break down two key tips to help you figure out how to write off 100% of an employee's meal. Whether yo...

Today on The Jeff Trapp Podcast we're pumped to kick off our meal deduction series and provide you with some excellent tax tips to amp up your summer plans. Of course, Jeff also shares what's going on in the economy, covering how the debt ceiling bill will affect your taxes so that you can be better prepared for what's to come. He then dives into meal deductions to explain how to flip...

When it comes to taxes, the distinction between a business and a hobby is crucial. A business is an activity that is done to make a profit, while a hobby is an activity done for pleasure or relaxation. The Internal Revenue Service (IRS) defines a business as “an activity carried on for profit.” The difference between a hobby and a business is important for tax purposes because businesses are allow...

Today, on The Jeff Trapp Podcast, Jeff dives into the dirty dozen scams just released by the IRS as he shares what to watch out for. Some of the topics he covers are Employee Retention Credit claims, phishing and smishing scams, online account help from third-party scammers, false fuel tax credit claims, fake charities, and unscrupulous tax return preparers. He'll also dive into several specif...

This week on the Jeff Trapp Podcast we are focused on helping you better understand how and why estate planning can be beneficial to your financial goals. While this may not sound like a tax tip, and you may think it's not something you need to focus on in this phase of your life, Jeff explains what can happen when you forgo estate planning, as well as why and when it makes sense to consider e...

Welcome to the Jeff Trapp Podcast where we're covering how small business owners like you can win in this season of your business. While Wall Street and other pundits are raising fear about a recession, Jeff is here to shed some light on what is really happening with the economy. So, in this episode, he'll offer up a birds-eye view of the stats and data, as well as tips and tricks to help...

Welcome to the Jeff Trapp Podcast! In this episode, Jeff will discuss some really pesky issues surrounding cash accounts and payments. In particular, he'll explain how third-party apps like Venmo or Zelle for making payments or collecting cash are actually making way more work for you as well as your accountant. Besides explaining why you shouldn't use those apps, he offers an effective st...

Welcome to the Jeff Trapp Podcast, where we bring the most beneficial tax strategies and financial topics to light weekly. In this episode, Jeff switches gears from the nitty gritty tax topics and offers an insight into the economy to inspire you to change your perspective and up your game. He offers real and in-depth viewpoints on what businesses and entrepreneurs can consider while building thei...

After months of arduous paperwork and filing, taxpayers can finally breathe easy. It’s April 19th, and unless you extended your tax returns, you can sit back and relax for a bit. However, for some, you may still not feel relieved at this point. Especially if you paid the IRS and possibly your state an enormous amount of money after filing those taxes. This alone can be incredibly stressful. So, on...

In this round of The Jeff Trapp Podcast, Jeff focuses on the key metrics businesses need to track and how frequently they should do so. He explains why it is crucial to your financial health to know how much you are making versus how much you are keeping. He'll also explain why tracking metrics is imperative for any business owner with plans to reinvest back into their business and their perso...

Welcome to The Jeff Trap Podcast. Whether you're a first-timer or a regular, we're here to help you maximize your tax savings. With the tax filing deadline just thirteen days away, in this episode, Jeff focuses on tax tips that can help you better understand how best to approach and handle the tax filing deadline. He helps you better understand the topic of filing by the tax deadline vs extending...

It's a pleasure to have you join us on the Jeff Trapp Podcast today. If you are wondering about healthcare write-offs check out this episode now. Jeff covers a wide variety of healthcare expenses that are deductible, as well as some that aren’t. His topics include shared ministry health care, doctors, dentists, surgeons, non-traditional doctors, nursing care, acupuncture, behavioral healthcare...