What’s Inside?

One of the best parts of owning a small business is the tax write offs and deferral opportunities that aren’t available with just a W-2 income.

Whether this is a small side hustle that makes you a few thousand dollars a month, or a $10MM business, earning any kind of business income opens up amazing opportunities for tax savings and wealth creation. Essentially, you could come out ahead while effectively earning less money.

Table of contents

  1. Home office tax deductions (how and when you can take it)
  2. The Augusta Rule
  3. Why a solo 401k is the best retirement plan for business owners
  4. How to split your income with an S-Corp
  5. Deductions from travel and attending conferences
  6. QSBS (avoid taxes on up to $10 million in capital gains or 10x your investment)
  7. What is QBI and how does it work?
  8. How to hire your kids, reduce your business income, and set them up for retirement from an early age
  9. Credit card points and travel hacking
  10. Owning real estate with your business
  11. R&D credits and how to get them
  12. Donating appreciated stock to charity + donor advised funds (DAF)