 |
Perennial PrideAuthor: Tom Suvansri
Tom Suvansri is passionate about protecting and growing his family's wealth and he shares how you can do it too. In this show, you will learn strategies that leverage economic principles in order to achieve increased financial control, cash flow, and tax advantages that last generations. It's time to eliminate uncertainty and create wealth strategies to build a family legacy. Language: en Genres: Business, Entrepreneurship, Management Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
Listen Now...
Proactive Tax Planning: You Can't Control the Tax Code, But You Can Control This
Episode 198
Thursday, 22 October, 2026
Tax season just wrapped, and the next one is closer than most of us want to admit. In this Perennial Pride Podcast episode, I borrow a simple idea from Stoic philosophy, focus on what you can control and let go of what you can't, and apply it to your tax situation. There's still time before the year ends to change what your next tax bill looks like. Key Takeaways Let go of the tax code, law changes, tax rates, and markets, because worrying about them costs you energy and changes nothing. Put your attention on the levers you own: income timing, deductions, entity structure, retirement plans, charitable gifting, and record keeping. Build a well-rounded team of tax, financial, and legal advisors so every decision gets more than one perspective. Make sure every strategy has a business or investment reason first, so the tax tail never wags the dog. Draw a line down a sheet of paper, sort what you can and can't control, and act on one or two items before year-end. Links & Resources Perennial Pride (Website): https://perennialpride.com/ Wealth Beyond the Numbers by Tom Suvansri: https://perennialpride.com/ The Obstacle Is the Way by Ryan Holiday: https://www.amazon.com/s?k=The+Obstacle+Is+the+Way+Ryan+Holiday Keywords Perennial Pride, Perennial Pride Podcast, Tom Suvansri, financial freedom, wealth strategy, proactive financial planning, alternative investing, Wealth Beyond the Numbers, Virtual Family Office, take control of your finances, proactive tax planning, year-end tax planning, tax strategy for business owners, high income tax planning, tax mitigation, Stoic philosophy and money, what you can control with taxes, entity structure, cash balance plan, charitable giving appreciated assets Episode Highlights [00:00:00 - 00:01:59] Tom thanks the tax professionals and filers who just closed out a long tax season. [00:02:00 - 00:03:29] He hopes next year's tax bill is no surprise, or at least a pleasant one. [00:03:30 - 00:04:29] Tom introduces two Stoic ideas: focus on what you control and prepare your response. [00:04:30 - 00:05:29] He admits more things sit outside our control than inside it. [00:05:30 - 00:06:29] Choice, effort, judgment, and response are the things that are truly yours. [00:06:30 - 00:07:29] Tom warns how much energy gets wasted on outside noise and things we can't change. [00:07:30 - 00:08:44] The tax code, law changes, tax rates, markets, and inflation are outside your control. [00:08:45 - 00:09:29] Resigning yourself or chasing the latest fad are both poor responses. [00:09:30 - 00:10:14] You can influence the type and timing of income and the deductions you explore. [00:10:15 - 00:10:39] Entity structure and what you pay yourself are real levers for business owners. [00:10:40 - 00:11:24] Retirement options like cash balance plans let you direct more money than the basics. [00:11:25 - 00:11:49] Donating appreciated assets can let you forego capital gains. [00:11:50 - 00:12:14] Strong record keeping gives you protection if you're ever audited. [00:12:15 - 00:12:59] A well-rounded team of tax, financial, and legal advisors is an underrated lever. [00:13:00 - 00:14:29] Tom compares thinking through your response to running fire drills. [00:14:30 - 00:15:59] The Obstacle Is the Way: challenges can point you in the right direction. [00:16:00 - 00:17:09] A law change or a liquidity event is the moment to revisit your plan. [00:17:10 - 00:18:09] A big tax bill is often a sign of success and may point to opportunities. [00:18:10 - 00:19:39] Letting the tax tail wag the dog leads to purchases you never needed. [00:19:40 - 00:20:44] Tom walks through the two-column exercise on a single sheet of paper. [00:20:45 - 00:21:44] Release the left column, then act on one or two items on the right before year-end. [00:21:45 - 00:22:40] Tom closes by asking you to pick one thing this year that can snowball into 2027.
