In this episode, we dive deep into:Writing off credit card interestVehicle expenses and write-offs"Just because you can write something off doesn't mean that it's a good thing and that you should be doing it." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

In this episode, we dive deep into:Considerations for starting a businessInvesting in specialized softwareElements of a successful businessCreating financial roadmaps and smart expenses"Just because you can write it off doesn't mean it's a smart use of your money." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Join me in this episode as I delve into the invaluable lessons of knowing your worth as a business owner. It touches on a pivotal decision faced by entrepreneurs: the courage to part ways with difficult clients.In this episode, we dive deep into:The importance of knowing your worth as a business owner and making tough decisions for the benefit of your companyThe impact that difficult clients can have on your energy, time, and confidence, and explore the potential benefits of parting ways with themHow focusing on clients who align with your values and respect your expertise can lead to increased happiness and profitability"If you want to put more money in your pocket, then you need the right customers and the right mindset." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

In this week’s insightful episode, we delve into the intricacies of entrepreneurship and the journey of growth. From the formative influence of small-town beginnings to the unique challenges faced by small business owners — we unpack it all. In this episode, we dive deep into:How growing up in a small town can shape one's perception and identityThe importance of recognizing individual differences in business successDealing with the pressure of predetermined expectations based on others' success The role of mindset in achieving business successLearning that success is not guaranteed by following the same path as others"Nobody can limit the amount of money you can make except you in your own mind." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Dive into the complexities of tax preparation with Jeff’s invaluable insights for real estate agents. Get your tax prep checklist, conquer the tax organizer, and safeguard against audits with a robust balance sheet. Tune in now to avoid costly errors and keep your finances in impeccable order.In this episode, we dive deep into:The essential tax prep checklist for real estate agents How a comprehensive tax organizer helps clients provide all the required information for their tax returnsThe importance of completing the tax organizer in small steps to alleviate anxiety and ensure accuracyThe crucial role of a balance sheet in a business during an audit, showing bank account balances, credit cards, loans, and other debtsMaintaining accurate and balanced bookkeeping "Whether you do your own taxes or have a tax preparer do your taxes, having all your documents and information ready to go will save you a lot of time and headache." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Is tax season giving you the jitters?Well, Jeff just dropped a new podcast episode, and he’s unpacking the anxiety behind taxes and how to conquer it once and for all.Here are 9 anxiety-crushing strategies that'll make you look forward to tax season.In this episode, we dive deep into:The Pomodoro Technique to maintain focus and avoid burnout The power of breaking down overwhelming tasks into manageable chunksLeveraging the 80/20 rule for efficient business practices"Most people think that they procrastinate because they're lazy, but honestly, being lazy isn't why people procrastinate. Anxiety is really at the root of it." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

In this episode, I'm thrilled to introduce my special guest, Brent Bowers of The Land Sharks - an army officer turned seasoned investor and coach. Brent's story is riveting - transitioning from an active army officer to creating wealth through smart land investments while being present for his family. He reveals why he's switched from traditional rental properties to investing in land and how this strategy could be a game-changer for your portfolio.In this episode, we dive deep into:Brent's transition from rentals to landThe simplicity and power of land investmentsBuilding a team for success Steering clear of debt and making money work for you Coaching clients through investments and taxes"I'm a firm believer on I want to be making money while I'm sleeping." – Brent BowersConnect with Brent Bowers:Website: https://www.thelandsharks.com/ Email: brentlbowers1@gmail.com Connect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Jeff steers away from financial tips to address a question of legacy: Do you have a plan for when your time comes? Having a trust or a will isn't just for the wealthy; it's for anyone who cares about the distribution of their assets, no matter how grand or modest. In this episode, we dive deep into:Expect the UnexpectedAs Jeff says, "We are all one breath away from death," emphasizing the unforeseen nature of our mortality. Planning isn't just a business strategy but a life necessity.Fairness to FamilyIs it fair for your family to navigate your passing without a guide? Jeff reflects on the emotional and financial stress that lack of planning imposes on loved ones.The Cost of EmotionsWith touching sincerity, Jeff delves into the heart-wrenching impulse purchases in the face of loss. A pricey casket or headstone represents love, but he questions if in death, the gesture holds the value it consumes."Death is one of those things that we never know when it will strike. So having a plan is more important than anything else in this life." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Dive deep into the essence of trust - both in law and life - as host Jeff Hockett takes a refreshing stance on mixing personal beliefs with business. No more tiptoeing around sensitive subjects. It's all about aligning with clients who share your values! In this episode, we dive deep into:Trust and Align with Your BeliefsJeff highlights that with over 332 million people in the US alone, seeking to please everyone is an impossible task. Instead, focus on the fraction of the population that resonates with you – that's where real professional satisfaction and personal happiness lie.Trust in Higher PrinciplesReflecting on the Easter story, Jeff challenges listeners to consider Joseph's leap of faith, drawing a parallel to our own life's 'limiting beliefs' and the incredible outcomes that can arise from trusting in something beyond our immediate perception, including a divine presence.Trust and TaxesIn a bold statement, Jeff notes that many people lack trust in the government's fiscal intentions. This skepticism fuels the pursuit of paying as little as possible in taxes, aligning with the podcast's theme of keeping more money in your pocket.The Eternal Reward of TrustEnding on a thought-provoking note, Jeff invites listeners to ponder their trust in spiritual tenets, such as those taught by Jesus and the Bible. He posits that trusting in a higher power not only enriches one's life journey but may also lead to material benefits."When it comes to business or even having happiness in your life, you need to surround yourself with people who align with your beliefs... I say it boils down to trust." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Tired of sifting through endless and conflicting tax advice on social media? Tune in as I explain the nitty-gritty of tax rules and strategies for real estate agents, focusing on how to smartly and legally write off your travel expenses. In this episode, we dive deep into:Debunking Tax MythsAre you swamped with conflicting advice on what you can write off during your travels? Jeff dispels common myths that could cost you if you're not careful.Understanding IRS GuidelinesFind out what the IRS actually considers as a valid travel expense and why not everything on your trip qualifies as a write-off.The Right Way to Record Your ExpensesLearn about the importance of keeping a log or daily notebook to make sure you're always on top of your expense records - because when it comes to the IRS, precision matters.Don't let travel expenses dig into your profits. Jeff is ready to share insights gathered from his own experiences on the road, combined with sharp tax expertise, to ensure that your next trip is as fruitful for your business accounts as it is for your personal growth.No more guessing games. It's time to play the tax game with a winning strategy."Social media can be good for certain things, but I have found getting advice from complete strangers probably isn't one of them." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Owning investment properties might just be your ticket to building wealth, especially for W-2 earners who miss out on those precious write-offs. Jeff shares the golden rule: if you can't afford a property manager, think twice before you leap into property investments.Learn why paying interest is throwing your hard-earned money away and get actionable advice on how to grow your funds sustainably.In this episode, we dive deep into:Beyond The W-2A W-2 job might offer security, but when it comes to taxes, opportunities for write-offs are minimal. Learn why diversifying your income could be a game-changer.Real Estate as a Wealth BuilderJeff compares the steady, if limited, income from traditional employment to the potentially larger, but less predictable rewards of business ownership, emphasizing the long-term benefits of real estate investment.Investment Property ManagementOwning investment property is about creating wealth, but it requires consideration and planning. Jeff advises against investment properties if you can't afford management — hear his reasons why.The Cost of InterestPaying interest can severely impact your wealth-building journey. Jeff discusses smarter ways to manage money that could lead to significant savings over time."Buying real estate, having houses or hotels, owning a railroad or utility companies was the way to win the game. And it's the same in the real world." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Want to achieve financial growth and uniquely reduce your tax burden? I've got the solution for you. Tune in to discover unconventional methods of generating passive income through real estate that can lead to effective financial growth and tax burden reduction.In this episode, you will be able to:Discover how tax incentives can supercharge your wealth growth through real estate investing.Uncover the often overlooked benefits of investing in industrial real estate for passive income generation.Explore the power of Opportunity Zones and 1031 exchanges to optimize your real estate investments for long-term financial gain.Learn how syndication groups can provide innovative financing solutions for your real estate ventures.Unlock the secrets to maximizing tax benefits within the realm of real estate, paving the way for sustainable passive income growth."The tax code is designed to stimulate growth. We do the same thing when it comes to real estate and other ventures that we do because we look at where we can apply tax advantages to people who are maybe in a high income W-two or are entrepreneurs who are making a great deal of money in their business, but their business doesn't offer them a lot." – Shannon RobnettAbout Shannon Robnett: With over 25 years of experience, Shannon has been involved from start to finish on over $350MM in construction projects such as multi-family, professional office buildings to city halls, fire and police stations, schools, industrial projects, and mini storage. Along with his knowledgeable team at Shannon Robnett Industries (SRI), Shannon is dedicated to sharing his expertise and delivering top-quality projects that bring numerous passive income streams to his syndicate partners.Connect with Shannon Robnett: Linkedin: https://www.linkedin.com/in/shannonrobnett/ Instagram: https://www.instagram.com/shannonrayrobnett/Facebook: https://www.facebook.com/shannon.robnett.1 Connect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Want to learn how to attract more of your ideal clients and increase your profitability? Tired of feeling like you're constantly exchanging ten pennies for a dollar? I've got the solution to help you prioritize your clients and maximize your business potential. Let's dive in and uncover the secrets to achieving improved client prioritization and increased profitability.In this episode, you will be able to:Maximize profitability through strategic client prioritization.Learn proactive financial management for significant tax savings.Enhance client communication and management for increased efficiency.Build strong client relationships to foster loyalty and business growth.Gain financial literacy and effective tax planning strategies for success."Would you rather have five A-clients that are constantly giving you business and referrals or 100 C-clients that burn you out each day? My guess is the A-clients if you want to make money and keep your mindset good." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Are you struggling to manage your time effectively and execute your business plan? What if I told you there's a surprising twist to maximizing your efficiency and financial success? It's not what you think, and it's not about working harder. Stay tuned to uncover the unexpected solution that could transform the way you approach your business goals and time management.In this episode, you will be able to:Master time management and prioritization to unlock your potential for success in real estate.Elevate your real estate agent productivity and achieve more in less time.Discover the art of multitasking and efficiency to revolutionize your real estate business.Learn the power of setting boundaries for interruptions and reclaim your focus and productivity.Uncover the secrets to tracking and managing time and money for financial success in real estate."Habits are hard to change and we have to continue to work every day on them if we want to grow." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Uncover the surprising truth about financial management and the mindset of the business owner. Discover how a simple shift in perspective can lead to increased confidence and better financial outcomes. Are you ready to challenge your beliefs and take control of your business's success? Stay tuned for insights that will reshape the way you approach your business and its finances.In this episode, you will be able to:Discover the secrets to pursuing a passion in entrepreneurship and finding success.Overcome financial challenges as a business owner and achieve financial stability.Conquer imposter syndrome in business and step into your role as a confident leader.Make confident decisions as a business owner and navigate challenges with ease.Embrace successes and failures in entrepreneurship to grow and thrive in your business."There is only one certainty, and that is if you do nothing, nothing will happen." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Discover the essential documents and strategies needed to slash taxable income and claim maximum deductions, as I guide small business owners through the intricate world of tax expenses.In this episode, you will be able to:Maximize tax deductions for small business owners by understanding income tax deductions and proper documentation.Discover the benefits of choosing between the standard deduction and itemized deduction to reduce taxable income.Learn how to manage medical expenses and adjust gross income for optimal tax savings.Uncover the ins and outs of state taxes and deductible expenses to keep more money in your pocket.Explore how mortgage interest plays a crucial role in maximizing itemized deductions and reducing taxable income."Banks won't loan you money without a PNL. The IRS, if they audit you, they're going to want to see a PNL. If you get audited and doing your taxes, it's going to be a lot easier with a PNL." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Ever felt lost in the maze of tax filing? Real estate agents, you're not alone. But what if I told you there's a surprising twist to this story? Stay tuned to discover the unexpected key to conquering the tax game and keeping more money in your pocket.In this episode, you will be able to:Understand essential tax filing requirements for real estate agents to maximize deductions and avoid penalties.Differentiate between employees and independent contractors to ensure proper classification and compliance with IRS regulations.Learn about the types of income documents for tax filing to streamline the process and minimize errors.Discover the importance of the 1099-NEC form for business owners to accurately report non-employee compensation and avoid IRS scrutiny.Identify the income documents for rental property owners to optimize tax planning and minimize liabilities."We all have different businesses, and we all have different things going on in our lives. I will give you an overview of some of the things needed. But understand, not all of you will need everything, and there may be more things that are needed that's even on this list. But at least it's a start." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Does this sound familiar? You diligently file your tax returns each year, but have you ever stopped to review them thoroughly? Perhaps you've been told that simply filing them on time is enough, only to discover costly mistakes later on. The pain of realizing errors on your tax returns can lead to financial stress and potential penalties. It's time to take control and ensure accuracy by understanding the importance of reviewing your tax returns.In this episode, you will be able to:Discover the importance of reviewing tax returns to safeguard your financial well-being.Avoid potential issues with tax returns by learning crucial strategies and insights.Learn about common mistakes on tax returns to ensure accuracy and compliance.Uncover the consequences of not reviewing tax returns and how to mitigate risks.Take charge of your responsibility in reviewing tax returns to protect your financial interests."Don't get in a hurry to electronically sign your name and be done with it. Take 5-10 minutes. It'll save you a lot of headaches and late in those five to ten minutes. It doesn't delay you." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Attention small business owners! Do you know about the Corporate Transparency Act and its implications for your business? Get ready to uncover the hidden complexities of BOI and the potential impact it could have on your operations. But as the deadline looms, will you be prepared to navigate the red tape, or will you be left in the dark? Tune in to find out.In this episode, you will be able to:Understand the Corporate Transparency Act's implications to protect your business.Overcome challenges faced by business owners with strategic insights.Safeguard your small business from money laundering risks with expert advice.Stay informed about compliance deadlines for registration to avoid penalties.Learn about the potential penalties for non-compliance and how to avoid them."It's hard enough being a business owner and surviving without this added garbage put on top of it." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/

Get ready to mark your calendars for important dates in 2024, including tax deadlines and crucial milestones. Stay tuned to uncover the truth and learn how to navigate these important dates with ease.In this episode, you will be able to:Avoid tax penalties with timely filing and payments.Recharge and boost productivity through regular vacations.Increase success by surrounding yourself with positive influences.Protect your well-being by avoiding toxic individuals.Gain control and flexibility with a deep understanding of tax extension rules."Instead of worrying all the time about what you can do to reduce your taxes, how about you just avoid these penalties? Because that's a huge thing." – Jeff HockettConnect with Jeff:Website: https://www.hocketttax.com/Email: jeff@hocketttax.com Twitter: https://twitter.com/taxgamecoachFacebook:  https://www.facebook.com/hocketttaxandpayrollYouTube: https://www.youtube.com/channel/UCO30L8kMHVodK8eutw1alQg/videos?view=0 LinkedIn: www.linkedin.com/in/hocketttaxInstagram:  https://www.instagram.com/hocketttax/