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.

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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

About The Tax Efficient Investor Podcast

On the Tax Efficient Investor podcast, we show you how to protect, grow, and transfer your wealth by implementing tax-advantaged investment strategies. Host Michael Johnston demystifies tax strategies that are favored by the most successful and sophisticated investors, including 1031 exchanges, IRA & 401k plans, HSA accounts, trusts, real estate, and more.

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.