Financially Simple

In episode 160 of Financially Simple, Justin gives 19 ways to reduce a Business Owner's taxable income. As a Small Business Owner, cutting costs and saving money is of immense benefit - especially when it comes to paying taxes. Justin lists possible 19 ways to reduce your taxable income. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!  Transcription: BLOG: 20 Ways to Reduce Taxable Income: A Business Owner's Guide TIME INDEX: 01:25 - How to Lower a Business Owner's Taxable Income 02:36 - Contribute as Much as You Can to Your Retirement Accounts 04:39 - Tax Loss Harvesting 07:02 - Purchase or Keep Your Health Insurance 08:09 - Have an HSA Account 09:34 - Track Your Medical Expenses 11:26 - 529 Plans 13:05 - Flexible Savings Account 14:28 - Bunching 16:40 - Deduct Everything That You Can 18:02 - Invest in Yourself 19:06 - Give to Charity 20:15 - Buy Your House 21:28 - Move to a Different State 22:47 - Check Your Property Taxes 23:44 - Make Your House More