Why Irs Form 13844 Strategies 2024

All right, well hey everybody! Rob Satrom here from Feedback Ranch. We help small businesses go from good to great, and we love creating content around opportunities to maximize your investment. We're all about helping you keep more money, mitigate your taxes, and maximize your ability to be an entrepreneur. We love helping small business owners. Now, in this video, what we want to talk about are two ways, on top of being an S corp, that you can drastically reduce your taxes. So, I'm going to show you two tools or two ideas that are going to help you legitimately reduce your taxes. Now, there's lots of stuff out there that you're going to hear, but really what it comes down to is as a business owner, you're able to mitigate your taxes when you put yourself in a position of offense in terms of financial abilities. What do I mean by that? You gotta be playing offense. You have to pay off your debt, you have to have cash flow, and play offense if you're going to do the things that truly allow you to reduce your taxes big time. No amount of going through and trying to find additional deductions, there's nothing you can do to spend more money on things inside your business that are truly going to help you reduce taxes. There's only one core principle at play here – you need to be able to play off, and so you have to create financial margin in your life, which means you have to be financially wise. It means that you have to save money and pay off debt. So with that, there are two massive things or tools that you can use here. Another thing is I'm going to be talking to small business...