Last week, I held a special webinar where I invited my personal CPA and best friend Warren Taryle on to talk about tax strategy.
He said “It’s not what you make…it’s what’s you keep.” And then he backed up his attitude by sharing the basics of tax strategy. He talked about three points:
1) Use the proper entities (LLC, corporations, etc)
2) Take advantage of deductions
3) Use tax-advantaged investing
In particular, check out how the IRS defines a “business deduction”:
So anything that can potentially benefit your business can be deducted and make you responsible for less taxes.
Warren’s business offers great counseling and you can get a free report by going to www.jackscpa.com.
Check it out!