It may surprise you to discover that the vast majority of business owners lose half of the profits they make to tax.
Yes, paying tax is important and shouldn’t be avoided. However, you are not working so hard, losing sleep and pushing yourself to your limits so you can give 50 per cent of the money you earn away, with next to no say over where it goes.
Fortunately, there are many legal ways to help your business reduce the amount of tax it pays.
This keeps more money in your pocket, which you can use to reinvest back into your business or put into personal investments.
At a recent Business Blueprint webinar, we invited prominent accountant Paul Siderovski to lift the lid on how to significantly reduce your tax without breaking any laws.
During this webinar, attendees found out:
- Why tax is your biggest business expense and how to manage it
- What’s the best business structure to pay the least tax legally
- The two different types of trusts and which is right for you
- How to legally utilise your family and kids to pay less tax
- What is the ‘Simplified Tax System’ and why you should use it
- When should you write off obsolete or slow-moving business stock
- How to understand and also better manage ‘Fringe Benefits Tax’
- How and when to utilise the benefits offered via superannuation
Minimising the tax you pay legally has one key result: more money for your business. So you can find out for yourself almost a dozen ways to do this, we have posted Paul’s webinar for public access.
Grab a notepad and check out how to reduce your tax legally with Paul Siderovski.
Paul Siderovski is not your everyday accountant, even though his firm SiDCOR was ranked by BRW as a Top 100 Firm in Australia. Sharing stages with Richard Branson & Tony Robbins, Paul has been able to develop multi-dimensional success across accounting, franchising, property, equities and start-ups while also maintaining a happy family life.