5 Tax Strategies for High-Earning LLC’s

In This Video:

On this episode, we are joined by the Tax Goddess to review five tax strategies for high-earning LLC's. Many of these strategies are associated with low risk to the user when executed correctly. Therefore, if you own an LLC and want to reduce your tax bill then this is the episode for you!

Things to Consider:

Think about your experience with your local CPA, you pay them to do your taxes and then you don’t speak until the following year. The CPA’s job is to do your taxes along with several others which so they are extremely busy during this time. This issue with this, is that the CPA either doesn’t have time or doesn’t look for tax saving opportunities. Instead, you could hire a Tax Strategist like Shauna to determine which tax-saving strategies are appropriate for your situation. She then takes it one step further and explains to her clients the steps they need to take to ensure that these strategies go through without a hitch. Watch this episode to better understand the role of a Tax Strategist and how they can help you.

Key POints in this Episode:

0:00: Intro

0:49: Difference between a CPA & Tax Strategist

4:29: What is a High-Earning LLC?

7:15: Tax Strategy #1 831(b)/Captive Insurance

15:20: Tax Strategy #2 Masters Exemption/Augusta Rule

21:43: Tax Strategy #3 Pay Your Children

25:09: Tax Strategy #4 Write Offs for Dog Owners

28:42: Tax Strategy #5 The Accountable Plan