If you’ve been an entrepreneur for any amount of time, you’ve probably had your run-ins with taxes. And let’s be real—nothing quite hits like that moment when you see how much Uncle Sam wants from your hard-earned cash. It’s one of those “gut-punch” realities of running a business. But here’s the kicker: There are tools out there that could save you thousands, tools most people like us don’t even know exist. That’s what Sally Gimon discovered, and that’s why I knew I had to talk with her.
Her story isn’t just about finding a loophole—it’s about figuring out how to stop getting blindsided. Sally didn’t just stumble upon a solution; she went looking for it. When you’re hit with an $80,000 tax bill like she was, you don’t just shrug and move on. You dig in, find out why, and fix it.
And that’s what this conversation with Sally is all about. Real, practical stuff you can actually use to change how you approach taxes—and maybe even your whole business.
The Hidden Tax Tool You Didn’t Know You Needed
Taxes are tough, no doubt. I’ve been there. You work your tail off, and then tax time comes around, and you feel like you’ve been sucker-punched. Sally knows that pain all too well. Back in 2019, she was wholesaling houses, killing it with real estate, and just when she thought things were going well, boom—here comes the IRS demanding $79,000 in short-term capital gains. That’ll stop you in your tracks.
But instead of throwing in the towel, she went on a mission. That’s when she found the Spendthrift Trust—a tool the super-wealthy use to protect their money from the taxman. Now, before you roll your eyes and think this is some shady loophole, let me tell you: it’s 100% legal. Rich folks like the Rockefellers have been using this trust for generations. Sally figured if it worked for them, why shouldn’t it work for regular people too?
Key Takeaways from Our Discussion:
- A Spendthrift Trust can help you save up to 90% on federal and state taxes—money you can put back into your business or your life.
- It’s not just for the rich. You don’t need millions in the bank to take advantage of this. Sally’s using it to help small business owners and even folks with side hustles save big.
- The IRS isn’t hiding this info—it’s just buried deep in tax codes that most people (and their accountants) never look at.
Resilience: When Life Hits, You Hit Back Harder
Sally’s story isn’t just about taxes—it’s about grit. I mean, who else turns a lemonade stand disaster into a lifelong drive to be their own boss? When she was just five, Sally was already hustling. After making $168 selling lemonade to the Pittsburgh Steelers, her cardboard stands literally melted during a storm. Instead of crying about it, she brushed herself off and got back to business. And that mindset stuck with her through adulthood.
Fast forward to her years as an insurance agent. She was crushing it in real estate on the side but then came the tax bomb. Most people would’ve panicked. But not Sally. She went all-in to figure out a way to fix her situation—and that’s when she started digging into the tax code, eventually discovering the Spendthrift Trust.
What I Learned from Her Experience:
- Grit matters. Sally’s success didn’t come easy. She took punches, whether it was losing a mastermind group or getting hit with a massive tax bill, but she kept going.
- You have to keep learning. If you’re not actively trying to figure out better ways to run your business, you’re going to get left behind.
- Never settle for less. If something doesn’t feel right—like paying ridiculous amounts in taxes—dig deeper and find a better way.
Reflections from the Interview
After chatting with Sally, I couldn’t stop thinking about how much most of us miss when it comes to running a business. We get so caught up in day-to-day operations that we don’t realize the tools and strategies that could save us massive amounts of money—or make our lives a hell of a lot easier. Sally’s journey shows just how critical it is to not only think outside the box but to keep grinding, even when things don’t go your way.
Here’s What I’m Taking Away:
- There’s always more to learn. Whether it’s tax strategies or new ways to run your business, if you stop learning, you’re done.
- Entrepreneurship is a marathon, not a sprint. You’re going to face setbacks, but the key is to keep moving forward, no matter what.
- The tax game isn’t just for the rich. You can save significant money if you know the right strategies, no matter what your income looks like.
- Persistence beats talent every time. Sally didn’t start out as a tax expert. She learned by doing and by not giving up when things got tough.
- Help others along the way. Sally’s not just saving herself money—she’s sharing the wealth (literally) by teaching others how to do the same.
Final Thoughts
Look, being an entrepreneur is no walk in the park. You’re juggling a million things, and taxes probably feel like just another headache. But it doesn’t have to be that way. You don’t need to be a millionaire or have a team of fancy accountants to use the same tools the rich do. Sally’s living proof that with a little grit, research, and the right strategy, you can keep more of your hard-earned money in your pocket—and isn’t that the point?
So, here’s my advice: Don’t settle for the way things have always been done. Start asking questions, start learning, and start digging deeper. You’ll be surprised by what you find.
CONNECT WITH SALLY GIMON:
Website: https://thetrustisyou.com/
LinkedIn: https://www.linkedin.com/in/sally-gimon-46142928a/
Tiktok: @sally.gimon | @SpendThriftTrust
Free Class: Save Taxes Legally on The Great Discovery