Pour one-quarter cup of gum turpentine in a glass jar. Add one-quarter cup of linseed oil. Cover tightly with a lid. Shake it vigorously. Store it in a cool, dry area until you're ready to use it.
Put one-half cup of hot water in a small jar. Pour just a bit of the mixture atop the hot water.
Dip a steel wool cleaning pad into the mix. Rub it back and forth on the mahogany. Continue in smooth strokes until you've finished removing the waxy buildup.
Polish the mahogany with a soft rag. Rub it in small circles all over until it shines.