By paying your kids from your business with the right process, you might be able to save around $2,000 in taxes per child.
Deferring taxes with retirement plans allows you to save on taxes and reinvest those savings and build a much larger portfolio when compared to traditional investment accounts. Knowing the most common plans will help lower your tax bill annually.
Buying a Tesla at the end of the year to lower your tax liability will probably be the worst dinner party tax advice for an unsuspecting online business owner.
CleverProfits’ agency, coaching, and consulting clients. They retain a single layer of tax on all business profits generated while eliminating self-employment taxes for owner-operators.
One of the most important elements of tax planning for S-corporation owners is to consider the amount of W-2 salary paid to the owner of the business.
It’s 7:00 PM on April 15 you’ve just written a check to the Internal Revenue Service for $23,450. You’re scratching your head wondering why Uncle Sam is getting his, and if there’s anything you could’ve done to save on taxes. The scary thought is that without working with a professional on proper tax planning, you […]