6 Legal Ways to Reduce Your Taxes (That Most People Don't Know About) [Ep. 134]

Most people assume the tax code only works against them. It doesn't. Buried in it are at least six legal ways to reduce what you owe — and most people have only ever heard of one or two. In this episode, Michael Haslam and Nathan Croxford break down all six: how to structure a sale so it never becomes a taxable event, how to defer gains for decades, how to create deductions and credits, and how shifting income to the right family member can cut a tax bill in half. They also flag where these strategies go wrong — and why "an Instagram guru told me to" is not a defense the IRS accepts. ⏱️ TIMESTAMPS: [0:00] — Intro & catching up [1:16] — Episode overview: six levers to reduce your taxes [1:44] — Educational disclaimer [2:22] — When taxes make you reconsider a sale [3:42] — The six levers, formally introduced [5:34] — Lever #1: Structuring a non-taxable transaction [10:46] — The IDGT explained (intentionally defective grantor trust) [12:18] — Lever #2: Deferring taxes with a 1031 exchange [16:43] — Other deferral tools (installment sales, CRUTs) [17:28] — Lever #3: Creating deductions [19:09] — Why "guru" tax programs are risky [23:13] — Cost segregation study: a real deduction example [26:24] — Lever #4: Tax credits vs. deductions [27:04] — R&D credits explained [28:15] — Solar credits: opportunity and risk [32:26] — Lever #5: Changing your tax rate/category [32:57] — Capital gains vs. ordinary income [33:42] — S Corps and self-employment tax [36:19] — Lever #6: Shifting income to other taxpayers [38:15] — Legal tax avoidance vs. illegal tax evasion [39:18] — Closing thoughts & how to get help