Many business owners unknowingly pay more in taxes than they should. Not because they are doing anything wrong, but because they simply do not know the deductions available to them or the difference between basic tax preparation and true tax strategy. In this episode of Building the Premier Accounting Firm, host Roger Knecht sits down with Shauna Wekherlien “The Tax Goddess,” one of the top 1 percent tax strategists in the United States, to explore the tax savings most business owners miss and the mindset required to build a thriving financial practice.
This article breaks down the key insights from their discussion and highlights the actionable strategies every business owner, accountant, or tax professional should know.
Meet the Guest: Shauna Wekherlien “The Tax Goddess” – Top 1% Tax Strategist
Shauna Wekherlien, known widely as “The Tax Goddess,” is the founder of Tax Goddess Business Services, established in 2004. She leads a global team of more than 100 tax professionals and has been recognized for her expertise in publications such as Forbes and Entrepreneur, along with appearances on CNN, CBS, NBC, and numerous podcasts.
Her reputation is built on plain-language tax education, legal tax minimization strategies, and a deep passion for helping entrepreneurs reduce their tax burden. As Roger puts it in the episode, “She is clearly the expert, the authority, and she has the story to back it.”
From Astrophysics to Tax Strategy: An Unexpected Journey
Shauna’s path into tax strategy is anything but traditional. She began her early career in astrophysics, but everything changed during a summer home from college. While sitting at the kitchen table with her mother, who is “very stoic, very composed,” Shauna noticed something was wrong.
Her mother had received an IRS notice and her CPA and tax attorney could not solve the issue.
“When your mama, your goddess, gets upset, what do you do? You figure it out,” Shauna recalls.
That moment sparked her shift into the world of tax. She began taking accounting and finance courses, entered public accounting roles including KPMG, and eventually built her own firm. Her motivation was simple: “I’m going to work how I want to work, when I want to work, and treat my clients how I want to treat them.”
The Power of Strategic Tax Planning (Not Just Tax Preparation)
One of the most important clarifications made in the episode is the difference between tax preparation and tax planning. Many business owners believe they are receiving strategic advice when in reality, their CPA is simply filing forms.
Shauna explains, “My job as a tax preparer is to make sure you don’t go to jail. I fill in the right forms. But I’m not talking big picture strategies.” Strategy requires year-round planning, legal interpretation, and proactive adjustments before the year ends.
Roger emphasizes this point as well: “Clients assume preparation includes planning. It does not.”
Understanding this distinction is the first step in unlocking significant tax savings.
The Most Overlooked Tax Deductions Business Owners Miss
Shauna highlights several tax deductions and strategies that business owners routinely fail to claim:
1. The Accountable Plan
A simple but powerful tool that allows business owners to reimburse themselves for legitimate business expenses, such as home office use, supplies, or certain equipment.
“We have had case after case after case where a client comes in with no accountable plan. It’s a one-page document. Yet it unlocks so many deductions,” she explains.
2. Paying Your Children
While now more well-known, many businesses still do not leverage the ability to legally pay their children for work they perform, creating both tax savings and investment opportunities.
3. The Augusta Rule (Master’s Exemption)
Allows homeowners to rent their homes for up to 14 days per year, tax-free.
“Get your business events and use those 14 days. It is completely legal,” Shauna says.
4. Captive Insurance (831b)
For businesses grossing over one million dollars, captive insurance can be a sophisticated strategy to reduce taxable income dramatically.
“These are ways you can effectively wipe out the entire profit of a business and use it as your own private bank,” Shauna adds.
The key message is simple: most business owners miss out not because the strategies do not exist, but because no one is advising them proactively.
Scaling Through Systems, SOPs, and Offshoring
To build a business capable of delivering high-quality tax strategy at scale, systems are essential. Shauna stresses the importance of documentation and standard operating procedures.
“If I’m handing over work to you, don’t just assume it’s being done. Inspect what you expect,” she advises.
She also highlights the power of offshore hiring. Early in her firm’s development, she relied heavily on overseas professionals through platforms like Upwork.
“You can get P-TIN-approved overseas professionals for eight dollars an hour,” she notes, making it clear that global talent can help small firms grow rapidly and affordably.
How to Prepare for IRS Audits Before They Happen
Audit risk increases as businesses grow, making preparation essential. Shauna’s approach includes:
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Having dedicated administrative and technical staff
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Clear documentation systems
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Understanding what the IRS will request
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Avoiding last-minute scrambling by planning throughout the year
She reminds listeners that the IRS is focused on documentation and consistency, both of which require organization and systems.
Branding, Books, and Authority: Becoming “The Tax Goddess”
One of the most entertaining parts of the interview is the story of how Shauna became known as “The Tax Goddess.” At a networking event, she was unexpectedly handed a microphone. Without thinking, she introduced herself by the name that would later define her brand.
“Hi, I’m Shauna the Tax Goddess.” Roger describes how “300 heads spun instantly.”
Since then, the brand has become central to her identity. Her book “The 6% Life” has also played a key role in establishing her authority. She describes books as “a really long calling card” that build trust before a client ever schedules a call.
Lessons for Solopreneurs, Tax Pros, and Growing Firms
Shauna’s journey offers several lessons for professionals at any stage:
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Do not operate from a scarcity mindset.
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Partner with specialists rather than trying to do everything alone.
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Hire intelligently and early.
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Build systems that support growth.
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Trust that the right clients will resonate with your unique strengths.
Roger adds that solopreneurs often underestimate their potential: “Many could be helping more people, training new staff, and building something bigger.”
Final Takeaways: Build a Business That Makes You Love Life
Shauna ends with a simple message: “Do what makes you feel in love with life.”
Her story is proof that building a business aligned with your strengths, values, and personality is not only possible but fulfilling.
Continue Learning: Listen to the Previous Episode
If you enjoyed the insights from this conversation, do not stop here. The previous episode features more expert guidance designed to help you improve your tax, accounting, and advisory services. Listening to it will give you a deeper foundation to apply the strategies covered in this article.
Offers:
The 6% Life is a way for business owners and entrepreneurs to reduce their taxes to pay 6% or less every year by using the same strategies, tactics, and day-to-day financial changes that Shauna cultivated over her last 25 years in becoming a leader: https://www.amazon.com/Life-Strategies-Successful-Entrepreneurs-Consistently/dp/0996032916
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