An ironic Story to say the least…
Over 300 years ago England implemented a tax on bricks. Each brick that was used in a project was taxed. Builders of the time, thinking outside the box, realized that they could reduce the amount they paid in taxes by increasing the size of the bricks they used. Using fewer bricks would amount to less tax! Pretty simple mathematical solution, right?
Needles to stay, like all governments, it took a while for them to catch on. A couple of years later a larger tax on bigger bricks was instituted.
Much like today… the bigger your pay check the more you pay in taxes.
On the the surface this holds true for most, especially if you’re a W2’d employee. If you’re lucky and you so happen to own your own business you stand a chance to be like the brick layer of the “Old World”. That’s if you know how or know someone that can teach you the art of leveraging your business.
Leveraging Your Business Starts with Two Golden Rules…
NEVER make a business decision without considering the tax implications first.
EVERYTHING is implemented with the purpose to increase the economic viability of your business.
Once these two golden rules are established a Business Structure Analysis is needed to…
Maximize the daily cash flow in the business.
Pay the shareholders in a tax efficient way.
Ensure the growth, creation and protection of personal assets
Create an exit strategy and secure retirement
The last step to leveraging a business is to uncover and utilize additional tax planning strategies that accomodates the industry specific business by examining the 75,000 page tax code that was written to benefit the business owner. After all, you are part of a special group that employees the majority of American.
Regardless of How Big Your Brick is, YOU DESERVE TO KEEP MORE!
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