11 Ways to Avoid Basic Taxes Legally: A Guide for Small Business Owners to Keep More Profit and Pay Less to the IRS by Forte Billy

Author:Forte, Billy
Language: eng
Format: epub
Published: 2023-11-26T00:00:00+00:00

By encouraging employees to maximize their contributions to retirement accounts, you're not only showing that you value their long-term well-being, but you're also potentially saving yourself money on taxes.

Choosing Tax-Efficient Investments:

Choosing Investments That Keep More Money in Your Pocket.

Investing in assets that generate capital gains or interest income can be more tax-efficient than those that generate ordinary income. This is because capital gains and certain dividends may be taxed at a lower rate than ordinary income.

Imagine you own a graphic design business and you're thinking about investing some of your profits. You decide to invest in stocks that pay qualified dividends, which are taxed at a lower rate than ordinary income. By making this strategic investment choice, you're essentially keeping more of your investment earnings and reducing your tax liability.

In essence, understanding the different types of investment income and their respective tax implications can help businesses make informed decisions that maximize their overall tax efficiency. This can lead to more money in your pocket and a healthier financial bottom line for your business.

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