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In this episode, tax expert Kenneth Pressley breaks down how different types of income are taxed—from W-2 jobs and side hustles to self-employment and business income—and shares practical, legal strategies to keep more of your money. If you’re 40 or older, earning more, running a business, or planning for retirement, this conversation could save you thousands. CHAPTERS 00:00 Introduction to Tax Efficiency 01:30 Ken Pressley's Journey into Tax Services 04:46 Understanding Different Income Types and Taxation 07:23 Planning for Tax Liabilities 09:15 Common Tax Mistakes and How to Avoid Them 10:51 Real-Life Examples of Tax Overpayment 12:25 Tax Preparation Essentials 17:57 Strategies for Minimizing Taxes 22:19 Understanding Tax Withholding 26:07 Final Tips for Tax Efficiency 📌 Join our FREE newsletter to get quick episode highlights, action steps, and resources at https://www.thewiseretirement.com/. 👉 Subscribe for weekly conversations on money, mindset, and smarter financial decisions.