The Real Tax Guy.

Videos Live Sessions Work With The Real Tax Guy Log in

The Real Tax Guy.

Real tax strategies, plain English, no suits. Free videos and live sessions from TJ Thorlackson.

Explore

Videos
Live Sessions
Podcasts
My Account
Work with TJ →

Get the good stuff first

New videos, live sessions, and tax tips. No spam, no suits.

© 2026 The Real Tax Guy · Operated by THORLACKSSON, INC

Built by HummingAgent

Video library

All Shorts Podcasts Education Real Stories

TopicsCrypto Deductions Family Irs Llc & S Corp Payroll Personal Taxes Real Estate Retirement Side Hustle Small Business Tax Fundamentals Tax Strategy

How a business cruise could become tax deductible

shorts

How a business cruise could become tax deductible

A cruise with business education sessions may qualify as a deductible conference expense.

35 views👍 0

How to give bonuses without the tax hit

shorts

How to give bonuses without the tax hit

Use student loan reimbursements or mileage stipends as tax-free bonuses that still deduct for the business.

65 views👍 0

Are GoFundMe payments taxable income

shorts

Are GoFundMe payments taxable income

GoFundMe money is a gift so you don't owe taxes, but donors can't deduct it since it's not going to a nonprofit.

37 views👍 0

Why picking up business cards doesn't make your vacation deductible

shorts

Why picking up business cards doesn't make your vacation deductible

Taking your family to Florida and grabbing real estate cards doesn't create a legitimate business deduction.

34 views👍 0

Single member LLC vs S corp tax differences explained

shorts

Single member LLC vs S corp tax differences explained

When your LLC earns enough, self-employment tax may justify switching to an S corp structure.

45 views👍 0

Are there deductions for W-2 employees?

shorts

Are there deductions for W-2 employees?

W-2 employees have limited deductions, but small business owners have more options available.

31 views👍 0

How business owners legally reduce their tax bill

shorts

How business owners legally reduce their tax bill

Buy assets, use depreciation, and reimburse yourself to lower taxable profit instead of giving it to the government.

27 views👍 0

Business meal deductions are simpler than you think

shorts

Business meal deductions are simpler than you think

If a meal is for business, it's deductible—no special rules about clients or business hours, just keep it proportionate.

30 views👍 0

How buying an airplane can eliminate your tax bill

shorts

How buying an airplane can eliminate your tax bill

High-profit business owners can get a 100% deduction on airplane purchases to offset taxable income.

26 views👍 0

Most small business owners don't understand deductions

shorts

Most small business owners don't understand deductions

Tax advice on YouTube is often misleading; the IRS publishes everything you need on their website.

30 views👍 0

What triggers the IRS to look at your return

shorts

What triggers the IRS to look at your return

Losses that don't match your income or expenses that seem way off can prompt a human review.

32 views👍 0

Inherited IRAs are taxable, unlike regular inheritance

shorts

Inherited IRAs are taxable, unlike regular inheritance

Cashing out an inherited IRA triggers taxes because it's retirement income, not tax-free inheritance.

47 views👍 0

How to maximize your business travel deductions

shorts

How to maximize your business travel deductions

Upgrade flights, cars, and meals for bigger write-offs, but groceries don't count and entertainment needs a business guest.

30 views👍 0

No, taxes are not voluntary in the US

shorts

No, taxes are not voluntary in the US

Taxes are mandatory, and skipping years just racks up penalties and interest with nothing gained.

36 views👍 0

Why W-2 employees struggle to build wealth vs self-employed

shorts

Why W-2 employees struggle to build wealth vs self-employed

Compares the wealth-building challenges faced by W-2 employees versus self-employed individuals.

33 views👍 0

Mileage vs actual vehicle deduction explained

shorts

Mileage vs actual vehicle deduction explained

You must choose mileage or actual costs, and mileage already includes depreciation so you can't claim both.

33 views👍 0

There's no minimum income to file a business tax return

shorts

There's no minimum income to file a business tax return

You must file a business return even if you made just one dollar; the IRS can audit your bank statements.

34 views👍 0

Why not filing your taxes usually means you lose money

shorts

Why not filing your taxes usually means you lose money

The IRS already has your W-2s and 1099s, and if they file for you they won't include your deductions.

36 views👍 0

How to get the most deductions legally

shorts

How to get the most deductions legally

Tell the truth and write off what you actually use—phone, internet, meals, and mileage that match your real business activity.

32 views👍 0

When the IRS says your business is actually a hobby

shorts

When the IRS says your business is actually a hobby

If your business loses money for years, the IRS may reclassify it as a hobby and disallow your losses.

37 views👍 0

Why hiding income in cash doesn't work with the IRS

shorts

Why hiding income in cash doesn't work with the IRS

The IRS can trace unexplained cash spending and will audit multiple years if they catch you lying.

34 views👍 0

What actually happens if you don't file your taxes

shorts

What actually happens if you don't file your taxes

If the IRS isn't contacting you about unfiled returns, you probably have a refund coming that you're missing out on.

42 views👍 0

What happens if you don't report gambling winnings

shorts

What happens if you don't report gambling winnings

The IRS already has your W2G, so unreported winnings trigger a letter and a bill, not jail.

27 views👍 0

Why running a cash-only business is risky

shorts

Why running a cash-only business is risky

Using cash to hide income is tax fraud, and auditors will notice when no bills are paid through a bank.

31 views👍 0

← Previous1…2223242526…30Next →

701 videos in the library