Tax Savings For Business Owners, With Jacob Turner

While there are plenty of strategies available for W-2 employees, the U.S. tax code is really written to benefit business owners.

Jacob Turner, co-founder at Moment Private Wealth, joins Michael to discuss tax savings strategies available to many business owners.

Watch On YouTube

Episode Highlights

  • Why (and how) the U.S. tax code is written to favor business owners.
  • The importance of retirement accounts for business owners.
  • How business owners can strategically hire spouses, children, and parents to lower lifetime tax bills.
  • The importance of “starting at the end” and thinking about withdrawals from tax-deferred accounts.
  • How the QBI deduction can lower taxes for business owners.
  • Overview of tax credits that business owners can use to reduce liabilities.

Episode Resources

Today’s Guest: Jacob Turner, Moment Private Wealth

Michael Johnston, CFA
Michael Johnston, CFA

Michael Johnston, CFA is the co-founder and President at WealthChannel, and host of WealthChannel Academy.

Michael previously founded ETF Database, the leading independent authority on exchange-traded fund investing.

Michael's professional experience includes positions in corporate finance and investment banking, as well as entrepreneurial experience as a co-founder and early employee in multiple high growth, venture-backed companies.

Michael graduated from the University of Notre Dame with a degree in Finance. He lives in Oregon with his wife and son.