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
