In this episode, you’ll learn about many of the favorable new laws designed to benefit pass-through entities. And, if you take the appropriate steps now, you could save tens of thousands of dollars in taxes in the year ahead.
Key topics covered in this podcast include:
• How to take advantage of IRS Rule 199A, which allows for a 20% qualified business income (QBI) deduction on pass-through entities.
• Service businesses vs. non-service businesses, and the different income caps and rules governing that 20% income deduction.
• How to rethink your retirement plan contributions so that you can qualify for the pass-through entity income deductions.
• Should you restructure your business to take better advantage of the QBI? Should you restructure real estate holdings, as that income is treated different under the new law?
• Why you need to revisit your retirement account options, including defined contribution and defined benefit plans.
• The new rules for automobile expenses and depreciation.
Discover your opportunities to grow wealth. It takes an expert Wealth Coach who is also a financial professional to bring clarity to your goals and help you establish a clear pathway to making sound financial decisions.