Most business owners know that there are tax advantages to running a business. For example, income splitting between a couple can reduce the amount of taxes a business owner pays. Medical care for the owner, and sometimes employees, can be written off on the business. The main way to reduce taxes is to have a strategy that covers succession planning when the business is sold or transferred to someone else, as well as to look at all possible business expenses from a tax perspective. Talk to a BlueRock Wealth advisor today to evaluate your business and plan for contingencies.
