205. 7 Surprising Ways to Pay Less Taxes
In this episode, I give you 7 ways to pay less taxes. And no, they don’t involve anything like sketchy offshore bank accounts.
I cover: Tracking your expenses and write-offs, reinvesting in your business, the difference between contractor and employee taxes, the difference between an LLC and an S Corp, investing in your retirement, using the qualified business income deduction, and working with a CPA.
If you’re filing small business taxes for the first time as a beginner, or even if you’re a seasoned pro, you’ll find helpful tax nuggets in this episode.
In this episode, you’ll hear…
- How to use company 401(k) matching to save for your retirement and pay lower taxes
- Different business expense write-offs that you might not know existed
- Why filing as an S Corp might be the right choice for your business
Click here to find the full show notes and transcript for this episode.
RESOURCES:
- Stay organized with QuickBooks
- Become a better investor with Betterment
- Read my blog post about the 5 qualities your accountant must have
- Listen to Episode 77: Small Business Taxes 101 (Guest Interview with Little Fish Accounting)
- Listen to Episode 91: Business Expenses 101
CONNECT:
Produced by NOVA Media
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