Stop Letting Tax Mistakes Quietly Slow Down Your Wealth

Everyone's Talkin' Money

Shari Rash

Self-improvement, Business, Health & Fitness, Mental Health, Education

4.2 • 648 Ratings

🗓️ 12 May 2026

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Taxes may not be the most exciting part of your financial life, but if you’re earning well, investing, running a business, or trying to build wealth, they cannot be a once-a-year panic event. In this episode, Shari breaks down the tax mistakes that can quietly slow down your wealth-building progress. Because while most people think about taxes only when it’s time to file, the real opportunities often happen months earlier, before you sell an investment, change retirement contributions, receive business income, make a major purchase, or realize your income has changed. Shari explains why the goal is not always to pay the lowest tax bill possible today, why deductions are not free money, how investment and retirement decisions connect to your tax strategy, and why business owners especially need to stop treating gross revenue like spendable income. You’ll hear: Why tax filing is looking backward, but tax planning is looking forward The difference between saving on taxes and making smart long-term financial decisions Why avoiding capital gains can sometimes keep you stuck in investments that no longer fit How retirement contributions can affect both your current and future tax picture Why business income needs a clearer system before tax season hits How to start thinking about taxes as part of your bigger wealth strategy This episode is for educational and informational purposes only and is not individualized financial, investment, tax, legal, or accounting advice. Before making tax, investment, retirement, or business decisions, consult with a qualified professional who understands your specific situation. If you want help building a financial plan that connects your income, investing, cash flow, taxes, and long-term goals, learn more about working GWA Wealth at gwawealth.com. Follow Everyone’s Talkin’ Money on your favorite podcast app so you never miss an episode, and keep the conversation going on Instagram @everyonestalkinmoney⁠ Talkin’ Points → where your money gets smarter. Real talk, practical tips, zero guilt straight to your inbox. Sign up here. Be sure to like and follow the show on your favorite podcast app! Shari Rash is a financial planner and Investment Adviser Representative of GWA Wealth, a Registered Investment Adviser. The information provided in this podcast is for educational and informational purposes only and should not be construed as personalized investment, tax, or legal advice. Listening to this podcast does not create an advisory relationship with Shari Rash or GWA Wealth. All investments involve risk, including the potential loss of principal. Any references to specific investments, strategies, or securities are for illustrative purposes only and are not recommendations. You should consult your own financial advisor, tax professional, or attorney regarding your individual situation before making any financial decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back to everyone's talking money. A quick note before we get into the episode. This episode
0:07.2	and my commentary is for education only. I'm not giving you personal tax advice and your situation
0:12.6	may require a CPA or tax professional who can look at your actual numbers. What I want to do today
0:19.5	is help you understand the patterns and
0:21.7	decisions that are worth paying attention to. Let me ask you something that may feel a little
0:29.4	annoying, but stay with me. Are your taxes helping you build wealth, or are they quietly slowing you down?
0:39.3	And are you also thinking, Shari, it's May.
0:43.4	Taxes were due last month.
0:46.9	I filed them.
0:48.0	Why are we talking about taxes right now?
0:51.1	Don't we wait till like February, March of next year to start talking about taxes?
0:56.1	That's part of the problem because most people think about taxes once a year, usually when it's
1:03.4	already due, usually when it's already confusing, stressful, or vaguely threatening.
1:09.4	And then the goal becomes, let's just file the return.
1:13.1	Like, let me just get through last year's report and this year I will be on it. But it never
1:19.9	happens. The same cycle always continues on and on. And honestly, if you are a high earner, if you're a business owner, if you're an investor,
1:31.6	if you're someone trying to build real financial flexibility, taxes cannot be a once a year
1:39.0	panic event. So I am being your best financial friend right now by talking about taxes in May versus waiting until tax season like most people do.
1:53.4	Tax decisions show up everywhere. They show up in how you invest, how you save, how and when or if you sell investments,
2:02.7	how you contribute to retirement, how you handle business income, how much cash to keep.
2:09.8	And whether you're making these decisions intentionally or just reacting.
2:17.0	And just reacting has a tax impact where if we're making decisions
	...

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