Mark Myers discusses how business owners can increase profit & permanently reduce taxes.
Listen to the interview on the Business Innovators Radio Network:
A crucial part of running a successful business is increasing profits and reducing taxes. By understanding the different tax rules and regulations that affect businesses and taking advantage of certain deductions, credits, allowances, or other incentives, entrepreneurs can make their companies more profitable and reduce their tax liability in the long run.
Mark explained: “Business owners should become familiar with industry-specific laws and regulations which may provide opportunities to reduce the taxes they owe. For example, they may be eligible for certain tax deductions or credits based on their situation, such as investments made in research & development. They also may be able to create more business efficiency and tax mitigation through better managing their current business risks. Finally, almost every business owner is eligible to create additional tax savings by using their primary residence more for the purpose of business meetings and/or events. The most important take away is to treat their tax liability like any other profit center. Less Expense = More Profit.
What about w-2 employees? Is there any hope for them? Yes there is! High earning w-2 employees & business owners can also reduce their tax burden by taking advantage of allowances and incentives provided by the government. This includes investing in renewable energy sources & donating assets that are acquired for less than the current Fair Market Value.
Advanced tax planning is a team sport. It is not enough to work only with an accountant or financial planner. High Income Earners may need 3,4 or 5 different specialists to help fully mitigate their tax bill. Finding a advanced tax planning specialist that can coordinate a variety of tax planning solutions is highly recommended and can help any high income earner maximize profits while minimizing taxes owed in the long run.
Tax professional Doug H. says: “Every client I have worked with, Mark has saved $30k to over $100k in taxes. For sound strategies, Mark is the best resource I have found in more than 15 years of tax preparation services.”
About Mark Myers
Mark Myers is a tax savings architect and founder of Peak Profit Solutions, LLC. A company dedicated to bridging the advanced tax planning gap most small to medium business owners have.
Over 90% of America’s successful small and medium-sized businesses significantly overpay in tax, even if they are working with a highly experienced CPA or accounting firm.
Most individuals that sell highly appreciated assets do not know that they can significantly reduce or eliminate their capital gains tax if the sale is structured properly.
Most high-income earning W-2 employees do not know they can reduce or eliminate their tax with special, government-approved programs.
Peak Profit Solutions helps their clients accomplish all of the above WITHOUT replacing their CPA or Investment Advisor(s). They also DO NOT provide standard depreciation, expense-related, or tax deferral advice.
They bring highly experienced and skilled tax attorneys, accountants, and business strategists to the planning table.
They have helped thousands of individuals significantly and permanently reduce their annual tax bills to help them better grow their businesses and accelerate their wealth.
Ask them about their Fortune 100 caliber tax savings analysis that can be completed in less than 10 business days. It’s not what is earned, it’s what is kept!
Learn more: https://peakprofitsolutions.com/