Sep 29, 2021
Summary:
Do you ever wonder how Fortune 500 companies make billions of
dollars but seem to not pay as much in taxes? I sit down and chat
with Steve Moskowitz to discuss some of the ways that you can
eliminate paying as much in taxes on your investments. Tax playing
can especially be utilized in retirement accounts, and there are
multiple benefits that come with them. Tune in to get tips from
Steve himself and to start saving on your taxes.
Highlights:
-A lot of people wonder how companies make billions of dollars and
don’t pay taxes—this has to do with tax playing
-If you’re a business or investor, you need to look at retirement
accounts
Three benefits to retirement accounts:
1. You will get a big tax deduction
2. When investments earn money, they aren’t taxed the same as they
would be in normal investment accounts
3. Special treatment within federal law
-If you go bankrupt, you keep 100% of your retirement
account
-One lawsuit can wipe you out, but not if you’re an entity
-Some states allow you to set up multiple entities, but only pay
one fee
-Set up a retirement account for the company managing your
investments
-ERC - government stimulus program for employers (grant)
Useful Links:
Financial Survival Network
Moskowitz LLP