As I meet with clients throughout the year, I stress the importance of tax efficient planning strategies. I explain that tax efficiency is simply an attempt to minimize tax liability when given many different financial decisions. The tax code offers many ways to reduce your tax liabilities if you know how to use it. Your income can be converted into assets with smart tax planning. The real key to building wealth lies in creating assets.
As a small business owner, you're probably busy monitoring operations and dealing with everyday problems. But there are five important aspects of your business strategy that you should review and update every year. These updates are essential to maintain successful small business growth strategies.