Ep. 55 | Barbara Schreihans - How to Get Out of Paying Taxes

On this episode of The Rich Equation Podcast, Ashish is joined by Barbara Schreihans. Barbara went from six figures of debt to a self-made millionaire, tax strategist, and all-around wizard who is hell-bent on saving clients from crappy accounting firms and larger-than-necessary tax bills. 

In this episode, Barbara shares with us her insights on how to have better preparation for taxes and tax planning. She will talk about all things taxes, giving you new perspectives and strategies on how to be more prudent with your money. And finally, she will talk about trends and how having the right money mindset can help you be smarter about wealth creation and management. 

Highlights: 

0:00 - Ashish shares a brief introduction of his guest, Barbara Schreihans

3:34 - Ashish talks about how we often neglect to think about taxes, considering this is one of our biggest expenses in life.  

4:29 - Barbara talks about how she got into this type of work as tax coach and strategist

7:31 - Barbara talks about the difference between tax avoidance (legal) and tax evasion (illegal) 

9:15 - Ashish asks Barbara what is the differentiator in the way people should think about tax planning

11:17 - Ashish asks Barbara what advice she can give to clients that people need to hear but often chooses to ignore it 

13:03 - Barbara talks about how people should switch from having a scarcity mindset to an abundance mindset

16:15 - Barbara shares her perspective about real estate and taxes and creative tax strategies that helps people reduce their taxes, such as Conservation Easement and other passive investments

19:39 - Barbara shares her insights and expectations about taxes in the next few years (NFTs, Crypto, Cannabis industry, and others)  

22:53 - Barbara talks about her all-women team of tax professionals, and how they were able to thrive in this industry 

24:45 - Ashish asks Barbara what she hopes for her business in the next 5 years

25:37 - Barbara shares her thoughts about wealth creation and management 

27:17 - Barbara talks about why she is positive about crypto and how it is beneficial to own one on a tax perspective, and the importance of having a routine, to build consistency on actions that brings success

32:22 - Ashish asks Barbara what it means to have a rich life

Links:   

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Check out previous episodes of The Rich Equation Podcast here: https://podcasts.apple.com/us/podcast/the-rich-equation/id1585002788

 Connect with Barbara Schreihans here: 

TikTok: your.tax.coach

IG:  @yourtaxcoach

LinkedIn profile URL: https://www.linkedin.com/in/barbara

 Let's Connect! 

Instagram: https://www.instagram.com/ashishnathu/

Website: https://therichequationpodcast.com/