income shifting

Imagine being able to legally employ your own kids in your business, and in the process, shift burdensome high tax brackets to a zero or low one. I promise, by the end of this episode, you'll understand every step of how this tax strategy works and how you can start implementing it in your business in less than 30 days. We'll break it down for you, whether you're a sole proprietor, part of an LLC, or an S corporation. And the best part? As long as your child earns up to $13,850, they won't owe a penny in income tax, while you, the business owner, gain a handsome tax deduction. Plus, did we mention that there are no payroll taxes for you, the parent-employer? It's a double win!

But wait, we're not stopping there. Let's take a step further and explore how you can partner with a tax advisor to further reduce your tax bill. Why work harder when you can work smarter, right? Unleash the power of proactive tax strategies with the help of an expert. We even have free resources to help you get started on your tax savings journey. Just subscribe to our podcast so you don't miss out on any upcoming tax strategies that could save you a fortune. Here's to keeping more of what you earn! So, get ready to take notes and let's dive into the world of tax savings!

I've put together this FREE resource for you:

7 Write-Offs Every S-Corporation Business Owner MUST Know
🆓 Download FREE PDF here: https://bit.ly/podcast7writeoffs

Ready to start saving money on your taxes?
☎️ Schedule your FREE Tax Advisory Session: www.TaxPlanningCall.com

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*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are a...

Camilla Jeffs had limiting beliefs that resulted in her thinking small and then she learned about passive investing. She found that she was able to stop trading time for money and started thinking big - resulting in the growth of her business and allowed her to ditch her W2 job.

Join Jim Pfeifer as he talks to Camilla Jeffs about how she exited her W2 job and created a business to help others start the passive investing cashflow snowball. Camilla is the Founder and CEO of Steady Stream Investments and teaches investors how to create multiple streams of income while also having positive social and environmental impact on the Community. Listen in to learn more about passive investing today!

To see the full show notes and transcript, click here.

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Scott and Jeff discuss the OECD's Base Erosion and Profit Shifting (BEPS) project with Tom Neubig, a former Economist with the OECD. We answer basic questions about the OECD, BEPS, Pillar One and Pillar Two, which includes the proposed global minimum tax. The project is designed to stop the "race to the bottom" and to prevent large multinational companies from shifting their income to low-tax jurisdictions like tax havens. We also briefly discuss how country by country reporting will help with analysis after implementation.