205. 7 Surprising Ways to Pay Less Taxes

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7M ago 26:59

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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:

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