The Tax Strategy Podcast with Fexingo: Tax Planning, Deductions, and Saving Money on Taxes
Lucas and Luna dissect the U.S. tax code with surgical precision, focusing on federal and state tax strategies for high-earning professionals, small business owners, and independent contractors. Each episode examines a specific deduction or credit — from Section 199A qualified business income deductions to cost-segregation studies for real estate investors — and walks through real-dollar examples using publicly available IRS forms and case law. Lucas, with his fountain pen and tweed blazer, highlights the fine print in tax regulations while Luna, in her structured slate blazer, cross-references actual taxpayer scenarios. They avoid generic advice, instead comparing strategies like bunching itemized deductions vers...
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How the Saver's Credit Boosts Retirement Savings for Low-Income Workers
<p>In Episode 130 of The Tax Strategy Podcast, Lucas and Luna dive into the Saver's Credit — a non-refundable tax credit that can put up to $1,000 back in the pocket of a low-to-moderate-income worker who contributes to a retirement account. They explain the income limits for 2026 (adjusted gross income below $38,250 for singles, $76,500 for married filing jointly), how the credit rate phases down from 50% to 10%, and why nearly 40% of eligible taxpayers never claim it. Lucas shares a concrete example: a single filer earning $30,000 who contributes $2,000 to a Roth IRA could get a $1,000 credit. They also discuss the Saver's Credit's marriage penalty quirks an...
How the Nanny Tax Works for Household Employers in 2026
<p>If you pay a nanny, housekeeper, or caregiver more than $2,800 in 2026, you are a household employer subject to the 'nanny tax' — Social Security, Medicare, unemployment, and sometimes workers' comp. In this episode, Lucas and Luna walk through the specific dollar thresholds (including the $1,000 federal unemployment tax trigger), the Schedule H filing process, and the often-overlooked deduction for household payroll taxes that can appear on Schedule C or Schedule A. They discuss the 2026 inflation-adjusted wage base ($176,100 for Social Security), state-level quirks like New York's disability insurance requirement, and a real example of a freelance graphic designer who saved $1,200 by properly de...
How the Self-Employment Tax Works for Freelancers in 2026
<p>Lucas and Luna break down the self-employment tax, SE tax, for freelancers and gig workers in 2026. They explain the 15.3 percent rate, the deduction for half of SE tax, how to estimate quarterly payments using Schedule SE, and the impact of the net earnings threshold. A concrete example illustrates how a freelance graphic designer earning $80,000 calculates their SE tax and takes the deduction. The episode also covers strategies to reduce SE tax exposure through entity structure, retirement contributions, and business expenses. No fluff—just actionable tax planning for independent earners.</p> <p >#SelfEmploymentTax #FreelancerTaxes #GigEconomyTax #ScheduleSE #SEtax #QuarterlyEstimatedTaxes #TaxDeduction #BusinessExpenses #Re...
How the Foreign Account Tax Compliance Act Affects US Expats in 2026
<p>In this episode of The Tax Strategy Podcast, Lucas and Luna break down the Foreign Account Tax Compliance Act (FATCA) and how it impacts Americans living abroad in 2026. They explain the FBAR filing threshold, the penalty for non-compliance, and why some expats are renouncing citizenship. Using the example of a US expat in Canada with a $75,000 retirement account, they walk through the reporting requirements and the foreign account exclusion. They also discuss recent IRS enforcement trends and the proposed FATCA reform bill. By the end, listeners will understand how to avoid the $10,000 penalty and whether the Streamlined Filing Compliance...
How the Like-Kind Exchange Defers Capital Gains on Investment Property
<p>In this episode of The Tax Strategy Podcast, Lucas and Luna break down Section 1031 of the tax code — the like-kind exchange — and how real estate investors use it to defer capital gains taxes indefinitely. They walk through the mechanics: the 45-day identification window, the 180-day exchange period, and the strict rules for replacement property. Lucas explains why this strategy is often called the 'ultimate deferral' and contrasts it with a straight sale. They also discuss the 2017 tax reform that limited Section 1031 to real estate only, eliminating it for art, collectibles, and heavy equipment. A concrete example ties it together: an i...
How the Child and Dependent Care Tax Credit Works in 2026
<p>In this episode of The Tax Strategy Podcast, Lucas and Luna break down the Child and Dependent Care Tax Credit for 2026 — a credit that helps working parents and caregivers offset the cost of daycare, after-school programs, and even summer camps. They walk through the specific dollar limits, income phaseouts, and eligibility rules using a concrete example: a married couple in Chicago with two kids and $18,000 in daycare expenses. They explain how the credit has changed since the pandemic-era expansions expired, and why many families leave money on the table because they don't understand the difference between a credit and a...
How the De Minimis Safe Harbor Saves Taxes on Small Purchases
<p>Lucas and Luna unpack the de minimis safe harbor election—an IRS rule that lets you immediately deduct small asset purchases instead of depreciating them over years. Using the case of a freelance photographer buying gear and a contractor upgrading tools, they explain the $2,500 per invoice threshold, the difference between the taxpayer-friendly and financial-statement safe harbors, and a common mistake that triggers IRS scrutiny. They also cover how this interacts with bonus depreciation and Section 179, and why not applying the safe harbor could cost you thousands in accounting fees for no benefit. A must-hear for any small business owner or...
How Tax-Loss Harvesting Works in a Volatile Market
<p>In this episode, Lucas and Luna break down the mechanics of tax-loss harvesting — selling investments at a loss to offset capital gains and reduce your tax bill. Using a concrete example from the summer 2026 market pullback, they explain how a hypothetical investor with $50,000 in realized gains could use $30,000 in losses from a beaten-down tech ETF to zero out their tax liability. They cover the wash-sale rule trap (including the 30-day window and how it applies across accounts), the difference between short-term and long-term loss treatment, and why harvesting matters more in volatile years like 2026 when the S&P 500 has se...
How the Foreign Tax Credit Prevents Double Taxation
<p>In this episode of The Tax Strategy Podcast, Lucas and Luna break down the Foreign Tax Credit — a little-understood provision that prevents U.S. taxpayers from being taxed twice on the same foreign income. Using the example of a U.S. citizen working remotely for a European company while living in Portugal, they walk through how the credit works, the difference between the direct and indirect credit, the de minimis rule for small foreign tax amounts, and the carryforward period for unused credits. They also explain why the Foreign Tax Credit is central to international tax strategy and how it...
How the Net Operating Loss Carryforward Works for Business Owners in 2026
<p>In this episode of The Tax Strategy Podcast, Lucas and Luna break down the net operating loss (NOL) carryforward rules that every business owner should understand in 2026. With the post-2020 changes still in effect, including the 80 percent taxable income limitation and the indefinite carryforward period, many entrepreneurs are leaving money on the table. The hosts walk through a concrete example: a graphic design studio that lost $250,000 in 2025 and turned that into a six-figure tax saving in 2026. They explain how to calculate NOL, the impact of the CARES Act revisions, and why state-level treatment varies. If you run a business...
