How to Turn Cars, Trips & Lifestyle Into Legal Tax Deductions
Life Changing Money with Barbara Schreihans
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Show Notes
The biggest difference between wealthy business owners and everyone else isn’t how much they make, it’s how they structure their spending.
In this episode of Life Changing Money, Barbara breaks down how strategic spending, not last-minute scrambling, is what actually creates massive tax savings and long-term wealth. From writing off luxury vehicles like G-Wagons to turning girls’ trips into legitimate business deductions, this episode pulls back the curtain on the strategies high earners use all year long (not just in April).
You’ll also learn how business owners legally write off domestic and international trips including retreats, girls’ weekends, wine trips, wellness getaways, masterminds, and even milestone birthday trips. Barbara explains the 50% rule for domestic travel, the 75% rule for international trips, and how travel days, meetings, photoshoots, content creation, and board meetings all count.
If you want 2026 to be the year you stop overpaying in taxes and start playing the game the wealthy already understand, this episode is a must-listen.
Tune in to hear:
- Why income level has nothing to do with who builds real wealth
- How wealthy business owners plan tax strategies all year — not in April
- Why online business owners absolutely qualify for business vehicles
- The truth about mileage vs. actual vehicle expenses
- How bonus depreciation works for vehicles over 6,000 pounds
- Why G-Wagons, Escalades, trucks, and luxury SUVs are popular tax tools
- The five-year rule that lets you move a business car to personal use tax-free
- How financing a vehicle doesn’t stop you from writing off 100% of it
- How to legally write off domestic trips using the 50% rule
- How international trips qualify with the 75% business-use rule
- Why travel days automatically count as business days
- How photoshoots, meetings, and content days turn trips into deductions
- How girls’ trips, wine weekends, and wellness retreats can be written off
- Why wealthy entrepreneurs see spending as strategy — not splurging
- How to stop relying on your CPA and start proactively saving on taxes
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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]