Strength in full
Top 5 reasons why owning a business will change your life forever
Rule #1: Rule of 72
Create Your LLC: With your own business, you’ll have the opportunity to create your own limited liability company (LLC). This will protect your personal assets
from any liabilities your business may incur.
Rule #2: Power of Zero
Write Off All Your Trips: As a business owner, you’ll be able to write off all — YES ALL! Like our Hawaii or Australia Trips! Your trips as business expenses. That means your vacations can now be considered as a tax write-off!
Tax Benefits for Business Owners: Write Off Residential Rental Property Expenses
Rule #3: DIME method
Utilize Augusta Rule: RENT YOUR PRIMARY HOME 14 days out of the year! This rule allows you to host business events in your home and write off the expenses associated with it
Rule #4: Reducing tax
Put your kids on payroll: Kids 18 year old and below can save you $13,850 per year Income, Medicare and Social Security Tax Exempt– State Tax (May Apply). Another incredible benefit of owning a business is that you can hire, pay, and write off this benefits. Huge tax savings for you and your business!
