Are you self-employed? Then today’s episode is for you! Whether you’re a solo entrepreneur or a seasoned business owner leading a team of employees, it’s essential to recognize the potential advantages of incorporating even a handful of these strategies to optimize tax savings.
What are some oversights that can lead you miss certain financial opportunities, especially as your business grows and becomes more profitable? What potential tax advantages are there to things like IRAs, 401(k) plans, and even cash balance plans? How important is it to adjust your savings strategy as your business evolves?
Our discussion today will take you through the lifecycle of your business, from opening day up to your eventual exit strategy. Do NOT miss this educational and tax-saving episode of CAPitalize Your Finances!
Important Information:
The information provided should not be considered specific tax, legal, or investment advice and is not specific to any individual’s personal circumstances.
IRA withdrawals will be taxed at ordinary income rates. Withdrawals prior to age 59½ may also be subject to a 10% penalty tax.
401K Plan information used is obtained from sources believed to be reliable as of the current date, but no representation is made as to its accuracy and completeness. Benefits may be subject to change at your employer the governing pension or benefit organization discretion.
Christopher A. Panagiotu is a registered representative with, and securities offered through LPL Financial, Member FINRA/SIPC. The opinions voiced in this show (program; podcast) are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. LPL ART-579513 (06/24)