How to Build Family Wealth While Paying Less in Taxes

What if the biggest tax savings opportunity in your business isn't about your business at all but your family? In this episode of Life Changing Money, Barbara dives into some of the most frequently asked questions from the wildly successful Tax-Free Family Masterclass. From S Corporation myths to Medical Expense Reimbursement Plans (MERPs), she's breaking down the strategies entrepreneurs are using to reduce taxes, protect their families, and accelerate wealth building. You'll learn why tax planning isn't just about saving money, but also about strategically redirecting those savings into investments, retirement accounts, and long-term family wealth. Barbara explains how family-centered tax strategies can benefit not only your spouse and children, but also aging parents and other loved ones you may support financially. Whether you're a seasoned entrepreneur or just getting started, this episode will help you better understand how to structure your business and family finances to create lasting wealth. Tune in to hear: Why Tax-Free Family became one of the most successful course launches ever How family tax planning can help build a $10 million net worth Whether you need an S Corporation to implement advanced tax strategies The difference between paying children through an S Corp versus a family management company When a Medical Expense Reimbursement Plan (MERP) makes sense The truth about the "minimum income" needed for an S Corporation How retroactive S Corp elections can potentially recover years of tax savings What the IRS considers "reasonable compensation" for S Corp owners Why S Corps are actually less likely to be audited How MERPs can help offset health, wellness, and medical expenses How HSAs and MERPs can work together as part of a wealth-building strategy The role of board meetings, advisory boards, and governance in tax planning Common mistakes business owners make when implementing family tax strategies How to create a tax plan that benefits your entire family…not just your business How To Get Involved: Life-Changing Money is a podcast all about money. We share stories of how money has impacted and radically changed the lives of others—and how it can do the same for you. Your host, Barbara Schreihans (pronounced ShREE-hands) is the founder and CEO of Your Tax Coach, and the creator of the Write Off Your Life Course. She is a top tax strategist, business coach, and expert in helping business owners and high-net-worth individuals save millions in taxes while increasing profits. When she’s not leading her team, coaching clients, or dreaming up new goals for her company, you can find her drinking coffee, hanging out with her family, and traveling the world. Grab a cup of coffee and become inspired as we hear from those who have overcome and are overcoming their self-limiting beliefs and money mindsets! Do you have a burning question that you’d love to hear answered on a future show? Please email it to: [email protected] Sign Up For Our Newsletter Life Changing Money Podcast Get Tax Help!