Tax Reduction Strategies for a Business Owner
Which dollar invested reduces the taxes of a business owner the most?..................
Money invested in a profit-sharing plan! Why? No federal income taxes, no state income taxes, AND no self-employment taxes (Social Security and Medicare).
The savings could be as high as:
37% (federal tax savings) + 12.3% (California tax savings) +2.9% (Medicare tax savings) +.9% (Medicare tax savings for those making over $200,000) = Total tax savings 53.1%.
If you are a business owner that is paying to much in taxes, reach out to us today!