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Savings Thousands on Taxes - S-Corps, Tax Pillars, CARES ACT!

taxes Apr 10, 2020
 

This post is from a previously recorded webinar with Shahar Plinner of Formations Corp. In this webinar he talked about strategies you can take as a Realtor to save thousands on taxes each year. Also discussed was everything you need to know about the CARES act.

If you feel like you have been paying too much in taxes each year, or if you are confused about the intricacies of the CARES act, you won't want to miss this! See the show notes below for topics and timestamps.

Show Notes:

0:00 - Nate Short Introduction to the webinar

1:28 - What is Run Your Business Like A Business?

3:18 - Shahar Plinner of Formations Corp introduction

4:45 - Shahar Plinner begins his presentation on the 5 pillars of tax and accounting

6:31 - What are people saying about taxes?

9:03 - Tax Planning (The most important business foundation)

16:04 - The value of cash balance

21:08 - Compliance

24:13 - What is the best loophole?

26:13 - Investment and Retirement

27:12 - Why should you pay your kids?

29:55 -...

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Why Do You Need a Survival Account?

home finance Mar 10, 2020

The Survival Account

One of the most important parts of running a business is making money. If you're spending more money at home then you are making in your business, you definitely have a problem on your hands. The reality of it is it will be nearly impossible for you to create a financial future for yourself if you keep spending more than you make. This all starts with the home budget.

The Home Budget

The home budget is split into 4 expense categories: recurring and essential (mortgage), recurring and non-essential (DirecTV) , non-recurring and essential (medical expenses), and non-recurring and non-essential (vacations). The first two buckets, the recurring expenses, are somewhat easy to budget for. You know how much they will be every month and you know when you will be billed for them. On the other hand, the non-recurring expenses are where people get in trouble. There is no way to budget for a medical emergency, but you must be ready for it. This is why we have the...

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3 Easy Steps To Improving Your Sleep

A productive day must start with a great morning routine, but it's hard to implement a morning routine if you aren't getting a good nights rest.

If you are one of the 40% of Americans who feel that your lack of sleep is affecting your overall performance in how you show up at work and in your personal life, consider following this simple method for improving your ability to get the required 7-8 hours of sleep that everyone needs to perform at their best!

Set a consistent time to get to bed every night, then...

  • 3 hours before bed - DO NOT EAT
  • 2 hours before bed - SHUT OFF ALL WORK RELATED ACTIVITIES
  • 1 hours before bed - TURN OFF ALL SCREEN TIME

Be sure to finish eating your big meals and drinking any alcohol at least three hours before bed. Doing this will help you sleep without interruptions throughout the night.

Stop doing all work-related things two hours before you go to bed. Don't check email, read a report, make a phone call, anything. This will help...

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