Thursday Jul 13, 2023
Business: Tax effective ways to take money out of a business
Summary:
Alison, CPA and Phillip discuss tax-effective ways to get equity out of a business. They explore options such as distributions, loans, and increasing salary, highlighting the benefits and potential tax implications of each. They emphasize the importance of consulting with a tax advisor to determine the best strategy based on individual circumstances and long-term goals. The goal is to be tax-efficient and maximize opportunities for financial planning.
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Timestamp |
Summary |
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0:00:01 |
Introduction to the podcast and sponsor |
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0:00:48 |
Discussion begins on tax-effective ways to get equity out of a business |
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0:04:41 |
Options include distribution, loan, increased salary, or dividend |
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0:06:40 |
Considerations for choosing the best option for each individual |
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0:08:09 |
Downsides and potential tax impacts of each option |
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0:11:55 |
Importance of analyzing options and consulting with a tax advisor |
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0:13:38 |
Considerations based on the stage of the business |
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0:14:44 |
Contact information for Allison Rife Martin
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Powered by ReiffMartin CPA and Stone Hill Wealth Management
https://www.reiffmartincpa.com/
https://stonehillwealthmanagement.com/
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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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