$245,000 S-Corp Owner Reduces Taxes and Increases QBI Tax Deduction with 401k
Learn how S-Corp owners can supercharge their retirement savings while lowering taxes (more tax deductions)! In this video, we break down the numbers and show you how a strategic approach to your S-Corp income can make a significant difference in your retirement nest egg.
0:00:00 Intro
00:02:20 How tax brackets work
00:03:40 Total Taxes
00:04:08 Retirement Plan Limits 2023
00:04:40 W2 Income vs Distributions for Retirement Plans
00:06:19 W2 and social security
00:07:44 100k vs 66k Tax Comparison
00:09:38 Social Security Max Retirement
00:10:30 Turning tax savings into $1,251,677
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TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
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