There is so much MIS-information and DIS-information about creating a business, it's no wonder that anyone can stay in business at all!
You have found the page that will save you thousands! Year after Year!
There are two very simple tax strategies that can save you $1,000s! Yet your accountant hasn't told you about them. They are simple to understand and easy to implement. Everyone should be using these strategies, but sadly, most aren't.;
Your operating agreement is doing three things that you don't want!
Optional in every state, Boards of Advisors are overlooked and often ignored by most small business owners. This critical mistake costs owners money year after year, increases vulnerability in lawsuits and invites IRS scrutiny. Fifteen minutes to a half hour once a monthcan put $10,000 to $15,000 (or more) in your pocket.
Your small business has the ability to generate tax-free income for you, the owner. This surprises many business owners, that their business can immediately begin generating Tax-Free income without a Roth, without a 401K and without any retirement or health plan.
Who pays for your son's football equipment? Your daughter's dance lessons? Gymnastics? Musical instruments? Tutoring? Summer programs? (Silly question, I know). But here's the real question: Are you deducting any or all of these? And if not, WHY NOT?
There are two rules the IRS imposes on everyone: Rule One - Taxes are due and payable on income. Rule Two - It depends.
It is absolutely necessary to pay the tax you owe. It is not necessary to send Christmas, Birthday, and Presidents' Day presents to Uncle Sam, yet that's exactly what most small businesses do.
Rule Two: "It Depends." How much tax you owe depends on many different things. When did you start your business? Are you married? Have you bought a vehicle? Do you have kids? The rules are overwhelming.
There are two, very simple, tax strategies that should be implemented when you started your business. And there's no time like the present, even if you missed them when you started. Find out now what a simple adjustment can mean to you in actual Dollars and Cents.
Don't wait. Even if you missed these when you formed your entity, it's not too late to save money and save your future.
You're sending money to Uncle Sam in taxes you overpay. That money could be earning you 18%. That's 18% in passive income. And all the while that money would be generating tax deductions for your business. When you become your own bank, with the money you're sending to Uncle Sam, your profits land in your pocket where they belong.
Dedicated to your business having the greatest asset protection, paying the lowest taxes, while growing steadily through the years.
Is your tax-free income earning tax free money while waiting to earn you more tax free income from your business? Your bank doesn't want you to know this, the IRS doesn't want you to know this, but it's buried in the tax law. Uncover and discover the compound deductions waiting for you.
These strategies may sound complicated at first. They're no more complicated than riding a bicyle. Once you get your balance, you ride freely, without thinking. Instituting these strategies is exactly the same. Once you understand them, they're decpeptively simple.