The Tax Strategy High Earners Are Missing: How to Stop Playing Defense With the IRS

Everyone's Talkin' Money

Shari Rash

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

4.2 • 648 Ratings

🗓️ 22 May 2026

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Taxes are not just something you deal with once a year when it is time to file. For high earners, business owners, and investors, taxes are part of the bigger wealth-building strategy. In this episode, Shari Rash talks with CPA and tax strategist Catrina M. Craft about how to stop playing defense with the IRS and start thinking more proactively about tax strategy. Catrina explains why the tax code often creates more opportunities for business owners and investors, why high-earning W-2 employees may feel limited but are not completely out of options, and how Roth accounts, HSAs, real estate, business structure, and proactive planning can all play a role in a smarter tax picture. They also talk about the difference between an accountant, a bookkeeper, a CPA, and a tax strategist, why waiting until March or April is usually too late for meaningful tax planning, and why deductions are not free money. You’ll hear: Why tax filing and tax strategy are not the same thing Why high earners need to stop treating taxes like a once-a-year event What W-2 employees can still consider when they feel stuck How Roth 401(k)s, backdoor Roth strategies, and HSAs may fit into long-term planning Why business owners need to understand entity structure, deductions, documentation, and ordinary and necessary expenses Why spending money just for a tax deduction can backfire How to think about tax planning as part of your larger financial 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, business, or entity-structure decisions, consult with qualified professionals who understand your specific situation. If you want help building a financial plan that connects your income, investing, taxes, cash flow, and long-term goals, learn more about working with Shari Rash and ⁠GWA Wealth⁠ by visiting 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. The views expressed by guests are their own and don’t necessarily reflect the views of GWA Wealth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:21.8	dot UK slash podcast to learn more.
0:27.7	Today we're talking about something that makes, frankly, all of us, pretty annoyed, and that's
0:36.4	taxes. And specifically, why it can feel like you're doing
0:41.0	everything right, earning good money, building your career or business, and still watching a
0:46.4	huge chunk of your income disappear to taxes. My guest today is Katrina M. Kraft, a CPA and tax strategist who works with high-earning coaches, consultants, creators, and entrepreneurs to help them stop playing defense with taxes and start using proactive tax strategy as a part of building wealth.
1:10.4	Katrina has a powerful perspective.
1:13.0	The tax code isn't fair.
1:15.5	But for business owners and investors, that unfairness can also become an opportunity.
1:22.8	After climbing out of $100,000 in debt and losing 80% of her income overnight, she rebuilt
1:30.1	her business using advanced tax strategies and wealth-building tactics, often used by the wealthiest
1:36.6	households to protect and grow money. Now through her craft money system, three, two, one,
1:44.0	now through her craft money map system, she helps
1:48.0	high earning entrepreneurs identify strategies to cut taxes, improve profits, and think more
1:54.3	intentionally about entity structure, deductions, income planning, and long-term wealth building.
2:00.2	In this conversation, we'll talk about
2:02.1	why tax filing and tax strategy are not the same thing. Why waiting until March or April is usually
2:09.6	too late. Why W-2 employees often feel limited? What business owners need to understand about
2:17.1	deductions? and why spending money
2:19.7	just because something is a write-off is not the flex most people think it is. But just a quick
2:26.1	disclosure before we jump in. This episode is for educational and informational purposes only.
2:32.3	It is not individualized financial investment tax, legal, or
	...

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