Listen to the whole Episode:
There’s a huge difference between reducing taxes and tax strategy.
If your tax strategy is “I’m going to spend more profit so I owe less taxes” that is NOT a tax strategy.
AND- This is something your CPA is probably telling you to do.
Taxes will always be the largest expense you have- unless you know tax-saving strategies.
Strategies like buying insurance from a company pool that I own part of and earning interest on that pool.
That ONE PIECE of knowledge would have saved me $900,000 in taxes.
And I lost that money simply because I didn’t know.
I want to show you how to keep more money, multiply your money and protect your money.
Ways to Keep More Money:
Buy insurance from a company pool that you own part of and earn interest on the pool.
Hire your kids in your business.
Get an HSA
Turn Vacations into business events so they can be written off.
Leverage debt & depreciation against your income to reduce tax liability
Ways to Multiply Money:
Buy Cash-flowing assets instead of junk you don’t need
Invest in boring businesses and investments that are “safe” (Take the risks in your biz, not your investments)
Find private investments instead of retail investment products
Don’t follow Hype- look for consistency
Invest in things that are ACTUALLY passive- Don’t buy another job.
Ways to Protect Your Money:
Have a Trust
Regularly pull the cash OUT of your business account into investments & trusts
Regularly moving cash OUT of your personal account into investments & trusts
An umbrella insurance policy
Creating layers of protection to protect your money
Understanding the law of the target- the more success you get, the more you need to protect your money