This week we go unscripted, with three recent tax stories that caught our attention. First, the fine print on "no tax on overtime": why only the premium part of time-and-a-half pay qualifies for the new deduction, and what that means for a $300 overtime check. Then Kevin tells the story of a new client with a 2,000-square-foot basement full of bourbon, and how one question turned a hobby into a business worth documenting. We finish with a Wall Street Journal story about a man with Florida paperwork whose estate is fighting Connecticut over more than $13 million in estate tax, and why states are getting more aggressive with people who move away. Dig a little deeper: 1. $300 of overtime, $100 deductible. Earn $20 an hour, work a 50-hour week and get time and a half for the last 10 hours, and you've made $300 in overtime. Only the $10-an-hour premium counts toward the new overtime deduction, so $100 qualifies and the other $200 is taxed like the rest of your paycheck. The deduction is capped at $12,500 ($25,000 for joint filers), phases out above $150,000 of income ($300,000 joint), and Social Security and Medicare still apply. 2. A basement full of bourbon can be a business. A new client had thousands of bottles in a finished 2,000-square-foot basement. He wrote paid reviews of bottles people sent him, bought inventory and sold bottles. "You do not have a hobby, you have a business," Kevin told him. Hobby expenses generally aren't deductible, but a business run like a business is treated differently, so step one is an inventory of the bottles, the revenue and how he sells. 3. A $100 client gift is a $25 deduction. Send 20 clients a $100 gift and only $25 of each is deductible as a business gift. The other $75 per client gets added back. Personal gifts follow a different rule entirely, with a $19,000 annual exclusion per recipient. 4. Florida paperwork didn't settle a $13 million question. Jack Anderson had a Florida driver's license, voter registration and declaration of domicile. Connecticut still assessed his estate more than $13 million in estate tax, pointing to his three condos there, and a trial court found he spent about five and a half months a year in Connecticut versus three and a half in Florida. The case is headed back for a new trial. If you plan to retire somewhere with no income tax, where you spend your time matters as much as your paperwork. Get in touch: https://www.revotaxpayer.com/?utm_source=revo-taxpayer&utm_medium=podcast&utm_campaign=ep-33-the-variety-hour&utm_content=show-notes#contact-1 Chapters [00:00] Going unscripted: the 10 PM tax article [02:43] "No tax on overtime": what the IRS guidance actually allows [05:30] The math: $300 of overtime, $100 deductible [07:34] Kevin's client and the 2,000-square-foot bourbon basement [10:05] "You don't have a hobby, you have a business" [12:27] Client gifts: the $25 rule vs. the $19,000 exclusion [14:03] Connecticut's $13.2 million estate tax claim [16:30] States chasing people who leave, and retiring to a no-income-tax state [18:40] Gulf Shores, South Padre and a SpaceX retirement plan

AI is changing how businesses operate, and that uncertainty has some investors hesitating. In this episode of The AAA Storage Podcast, Paul Bennett looks at what AI can and can't replace in real estate. Paul explains how AI pricing agents have already changed self-storage operations, why office demand is tied to headcount while self-storage and small-bay demand is tied to physical need, and how a Samsung chip plant near Austin led AAA to make its Hutto, Texas project all small-bay. He closes with the questions he asks to find investments with optionality, and why he has always favored simple, bricks-and-mortar businesses he understands. Ready to talk about your investment strategy? Reach out at https://www.aaastorageinvestments.com/contact New episodes every two weeks. Subscribe on Apple Podcasts, Spotify, or wherever you listen to podcasts, and send this to an investor in your network who needs to hear it. Follow and Connect with Us • LinkedIn: https://www.linkedin.com/company/aaa-storage-investments/ • Instagram: https://www.instagram.com/aaastorageinvestments/ • X: https://x.com/investments_aaa • Facebook: https://www.facebook.com/people/AAA-Storage-Investments-LLC/61575027573292/ Download our free guides to take your investing to the next level: • CRE Investors Sector Reference Guide: https://www.aaastorageinvestments.com/info/cre-investors-reference-guide?utm_source=aaa-storage&utm_medium=show-notes&utm_campaign=ep-48-what-cant-ai-replace&utm_content=guide-cre-reference • Ground-Up Investor Field Guide: https://www.aaastorageinvestments.com/guides/ground-up-investor-field-guide?utm_source=aaa-storage&utm_medium=show-notes&utm_campaign=ep-48-what-cant-ai-replace&utm_content=guide-ground-up-field-guide Chapters [00:00] Introduction [01:43] How AI Changed Self-Storage Pricing [05:31] Which Real Estate Is Exposed [07:49] Self-Storage and Small-Bay Meet a Physical Need [10:49] The Doorman Fallacy [12:06] How a Business Operates vs. Why It Operates [14:22] Life Events, Small Businesses, and Demand for Space [22:03] Where the Digital and Physical Economies Collide [27:20] Investing for Optionality [32:29] Buy Boring

Midterm years have historically been among the weakest for stocks, so should you pull your money out before November 3? Justin Dyer and Mena Hanna make the case for voting at the ballot box, not with your portfolio. Mena walks through the midterm "scouting report" and why 2026, a midterm year, has gone the other way so far, while Justin explains why 16 elections are too few to build a decision on. They rank the forces that actually move markets (interest rates, inflation, geopolitics, energy and AI), explain why midterms work more like a front-office reshuffle than a game-changer, and look back at a year when a new war, an energy shock and rising rates couldn't stop markets from climbing a wall of worry. Then Mena asks Justin the billion-dollar question: what is he doing with his own money as Election Day approaches? His answer: nothing different, because the plan was built for every path. Connect with Us Call or text us: 626-862-0355 Website: https://www.athletefamilyoffice.com/?utm_source=awm-capital&utm_medium=podcast&utm_campaign=ep-275-midterms-money&utm_content=show-notes YouTube: https://www.youtube.com/channel/UCc1NxpK21N1vKWEExC45YEA LinkedIn: https://www.linkedin.com/company/awmcapital/ Instagram: https://www.instagram.com/awmcapital/ X: https://twitter.com/awmcapital Facebook: https://www.facebook.com/awmcapital/ Chapters [00:00] Preview: Why Justin invests his own money exactly the way AWM recommends, and why your vote shouldn't steer your portfolio. [00:25] Intro: Midterms and your money, and why we vote at the ballot box, not with the portfolio. [02:23] The Midterm Scouting Report: Why midterm years have historically lagged, and how 2026 has broken the pattern so far. [03:08] Sixteen At-Bats: Why a small sample can't carry an investment decision. [04:02] Robustness Over FOMO: How much confidence a decision deserves, from election years to chasing the next SpaceX. [06:13] The Year After: Post-midterm trends, and why they're probably noise for a 100-year family. [07:34] The Real Market Movers: Markets as a digestive system, why rates, inflation, geopolitics, energy and AI outrank the election, and midterms as a front-office reshuffle. [09:56] A Year In The Red: War, energy and rates, and markets still hit a home run. [11:00] A Wall Of Worry: Why corrections are healthy and why volatility is the source of expected return. [12:52] The Billion-Dollar Question: What Justin is doing with his own money before the midterms, and why the plan comes first.

I hear it a lot: "Paul, I'm not a robot." In this episode of Resilience Talk, I explain why methodical, disciplined processes don't make a business rigid or slow, I share a story from my software days when a simple process meant three-hour days while my teammates worked ten, and I walk through a quick way to start making your own processes visible. It's how a business stays resilient through plateaus, recessions, labor crunches and, eventually, succession. Connect with Paul Website: https://www.secondnature.solutions/ Subscribe to the newsletter: https://www.secondnature.solutions/join LinkedIn: https://www.linkedin.com/in/paul-spencer-7252118/ Chapters (00:00) It's all about the process (01:37) Methodical and disciplined, not robotic (04:04) Three-hour days on an airline project (11:27) What this looks like in your business (15:45) Discipline equals freedom (16:42) Make your processes visible (22:50) How processes build resilience

We started investing in oil and gas three years ago because our clients needed bigger deductions, and we kept watching deals deliver the write-off but never pay back the investment. This conversation covers what we changed. On this week's episode we welcome Cotton Graham, founder and president of G2 Petroleum and Newport Operating, and Joe Stroffolino of G2 Petroleum to walk through the Revo Oil & Gas Growth Fund 2026 LP, our fund of funds investing alongside the G2 TX-26 Energy Fund in North Texas. Deductions That Have to Pay Out: 1. $200,000 of stock vs. $200,000 in a well. 2. How $100,000 becomes a $91,000 deduction. Of every $100,000 invested, roughly $70,000 to $75,000 pays for the drilling itself: the crews, the fuel and the rig time. That’s deductible in year one. When G2 buys a well that’s already pumping, part of the price also covers the pump jacks, tanks and pipe already on site, and that equipment can be written off in year one too. Together, that’s how the fund targets about $91,000 in deductions on $100,000. 3. Old wells still hold oil nobody bothered to pump. Picture a well drilled decades ago. In its first 2,000 feet it passed through 7 to 10 layers of rock that hold oil, but the original operator pumped the best one and moved on. The big companies wanted 50 to 100 barrels a day from a well. With its own rigs and low costs, G2 can go back in, open the layers that were skipped and make 5 to 10 barrels a day pay. 4. Owning the rigs keeps the oil flowing. Three years ago, a wet Texas spring turned the fields to mud. The other Texas operators in our first fund, which relied on hired drilling crews, fell about nine months behind waiting for contractors to get to them. G2 owns its rigs and has a crew of about 25 in the field every day, so it went straight back to its own wells. Every day a good well sits idle is money lost. Get in touch: https://www.revotaxpayer.com/?utm_source=revo-taxpayer&utm_medium=podcast&utm_campaign=ep-32-revo-oil-gas-growth-fund-2026-lp-in-partnership-with-g2-tx-26-energy-fund&utm_content=show-notes#contact-1 Connect With Us • Website: https://www.revotaxpayer.com/ • Facebook: https://www.facebook.com/revotaxpayer/ • Instagram: https://www.instagram.com/revotaxpayer/ • LinkedIn: https://www.linkedin.com/company/revo-taxpayer-advocacy • YouTube: https://www.youtube.com/@HiddenMoneyPodcast Chapters [00:00] Why a deduction isn't a win unless it pays out [04:06] Meet Cotton Graham and Joe Stroffolino of G2 Petroleum [09:40] Buying production first, then stepping out 300 feet [11:35] Behind-the-pipe pay: the oil early operators left behind [17:19] Buying the equipment: bonus depreciation on top of IDCs [23:26] Why owning the rigs matters: the rainy spring [35:06] General partner liability and GP insurance [38:47] The tax math on a $200,000 investment [41:12] Royalties, operating costs and the 90/10 split [52:40] Q&A: material participation, AMT, recapture and exit Investment in the Revo Oil & Gas Growth Fund 2026 LP is limited to accredited investors and is offered only through the fund's offering documents. Deduction targets and distributions are not guaranteed. This content is for educational purposes and does not constitute tax or legal advice. Always consult a qualified tax professional for your situation.