December 1, 2019

If you operate your business as a sole proprietorship, there are many strategies to reduce your taxes.

Let’s start with the following 10:

1. Use the Section 105 plan to make your health insurance a tax-favored business deduction on your Schedule C.

2. Employ your under-age-18 child to make taxable income disappear.

3. Employ your spouse without paying him or her a W-2 wage.

4. Rent your office, even your home office...

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