When Albert Einstein was asked how he felt about completing his income tax forms, he said, “this is a question too difficult for a mathematician. It should
be asked of a philosopher”. It likely comes as no surprise that according to Gallup, 57% of Americans say they pay too much in taxes.
If you're considering becoming a business owner, tax time is a great time to start thinking about how you can keep more of your hard earned money in your pocket. Often one of the most overlooked benefits of becoming your own boss is the equity you can build in the business while enjoying the tax advantages of investing in you.
There are plenty of free online resources available to help business owners realize not only their tax obligations, but tax benefits as well. The Small Business Administration (SBA) provides free online resources to help small business owners understand both federal and state tax laws. Click here to read more.
IRS.gov has an online Small Business and Self Employment Tax Center for taxpayers who file Form 1040, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million. Click here to view the guide.
If THIS tax year is YOUR year to get started on to right path to building wealth and equity through franchise ownership, download our free Road Map to Success guide and get started today!
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