If you've ever asked, “How can I pay less in taxes?” — this episode is for you.
Todd Frazier, CPA and business strategist, breaks down the most effective and underutilized way to reduce your tax burden and build long-term wealth: starting a business. Whether you're a high-income W-2 earner tired of handing 30–50% to the IRS or just looking for a legitimate side hustle, this episode gives you the roadmap to take action now.
You’ll learn:
- Why traditional deductions won’t move the needle
- How a sole proprietorship can save you thousands (with zero startup cost)
- The “2-out-of-5 rule” every new business owner must understand
- When to upgrade from Schedule C to an S Corp for even bigger tax benefits
- The real reason 74% of the world’s wealthiest people are entrepreneurs (and why 0% are just employees)
- The difference between a business and a hobby in the eyes of the IRS
You don’t need a fancy idea or a tech startup — you just need something people will pay you for. Todd explains how anyone can start today and build a tax-saving, wealth-building engine for their future.
👉 Ready to take action? This episode will help you move from overthinking to ownership.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!