Bidens Tax Plan: What You Need to Know About Tax Planning
If you’re anything like me, you like keeping your money but you don’t enjoy sitting behind a desk figuring out your taxes (or paying them…but I digress).
In this episode, I chat with Arron Bennett. He’s the owner of Bennett Financials, a financial agency that “specializes in helping entrepreneurs keep more of their hard-earned cash.”
We discuss tax planning, what it can do for your business, and the unique situation where tax planning won’t work for you. A few questions we answer here is
- What is tax planning?
- When is the best time to tax plan?
- What is Biden’s tax plan?
“If we’re taking cash from the business and you can’t pay your people, you’re ultimately putting yourself in a really precarious situation”
“A lot of times we’re paying for tax planning that creates more expenses.”
“Structure the business correctly and understand the tax implications of that rather than just being like, “My CPA said we’re going to go for this structure.”