Tax Strategies for $1M to $10M SMB Owners (with Chad Huebsch, EA, CTP)

In this episode, I'm joined by Chad Huebsch from Blueprint Tax to break down the importance of tax planning for business owners doing $1 million to $10 million. Chad shares valuable insights on entity selection, including the pros and cons of sole proprietorships, S-corporations, partnerships, and C-corporations. Some highlights:

• PTET (Pass-Through Entity Tax): How to maximize deductions for state and local taxes

• QBI (Qualified Business Income) Deduction: Understanding the thresholds and how to optimize your tax situation

• Retirement Planning: Exploring options like 401(k)s and cash balance plans to save on taxes while preparing for the future

• Hiring Family Members: The benefits and considerations of paying your children or spouse for work in your business

• Real Estate Strategies: Using short-term rentals and property ownership to offset income

-------

✅ Financial planning for 30-50 year old entrepreneurs: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.allstreetwealth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

✅ My personal blog & newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thomaskopelman.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.