The Calculated Art of Avoiding Uncle Sam: Expert Advice on Navigating Your Finances like the Wise & Wealthy ft. CPA Marcus Mire

Law Have Mercy!

To connect with our guest, Marcus Mire, you can find him on Instagram @miregroup_cpas, via his firm’s website https://www.mire.group/ or tune into his podcast “Make It Count” wherever you get your podcasts.
Ready to unlock the mysteries of tax deductions and learn some of tricks used by the super wealthy to minimize your payments to Uncle Sam? Well, grab your pen and take notes because this conversation with CPA Marcus Mire is putting you on game to save you tons of time and money!
On today's episode of Law Have Mercy! podcast, we are joined by podcast host, CPA and founder of his own Accounting Firm, The Mire Group— Mr. Marcus Mire— to answer some of your most frequently asked questions when it comes to taxes, credits, deductions and more! We’re talking everything from who can benefit from different tax perks, how to maximize your business write-offs and what’s some of the quickest ways to land yourself in hot water with Uncle Sam.
Things get really cranked up when Marcus exposes five of the most closely-guarded tax loopholes leveraged by the super wealthy to keep their money and give less to the IRS! Marcus highlights the importance of understanding business tax preparations and year-round tax strategizing for maximizing your deductions. Our talk dives deep into insights you won't want to miss if you're a business owner aiming to keep more of your hard-earned money!
The conversation takes a turn towards real estate investors, shedding light on innovative tax strategies that can set you apart from the competition. We examine the pros and cons of owning versus leasing business property, and Marcus gives us the lowdown on a powerful tool for accelerating depreciation and slashing tax liabilities. However, it's not just about the short game; we discuss crucial considerations for your long-term real estate portfolio, balancing immediate benefits with future tax implications.
Finally, we're bringing you golden nuggets on wealth maximization and savvy state tax navigation. Discover how 1031 exchanges and donor-advised funds can reshape your financial legacy and charitable impact, and learn why athletes and high earners need to play defense against the 'jock tax.' We wrap up with practical advice for family business tax strategies and the importance of accurate documentation—because when it comes to taxes, the devil is in the details. Tune in and take notes because this is one full of info that EVERY taxpayer can benefit from and by the end the show, you and your net worth will be glad to did!
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This show is co-produced by Carter Simoneaux of AcadianaCasts Network, Chaz H. Roberts of Chaz Roberts Law and Kayli Guidry Bonin of Beau The Agency.

Chapters

1. Tax Deductions for Business Vehicles (00:00:00)

2. Tax Loopholes for Real Estate Investments (00:12:00)

3. Tax Strategies for Wealth Maximization (00:18:37)

4. State Taxes and Retirement Savings (00:26:34)

5. Tax Saving Strategies and Documentation (00:36:56)

6. Recommendation for Podcast Subscription (00:46:11)