In US the highest combination is around 55%, you have to reduce it from 55% to 0%
Typical strategies are using leverage - borrowing - and spending on more business growth stuff. You deduct more than you earned and also deduct the interest payments.
The mere use of a business entity gets you a 20% tax deduction up to $120,000 (unincorporated sole proprietors can get this too, just easier to challenge and audit to fail) and then you can pump another $57,000 into a solo 401k.
An S-Corp designation can somewhat mitigate the self employment taxes.
You can also try paying people in shares/membership interests, parts of specific revenue streams or other noncash things (like free access to your service), so that you can keep your cash position while still making tax deductions.
Just dont run for office, or do, I dont care. Tax code is very understandable to me, it is just a reading comprehension issue.
Typical strategies are using leverage - borrowing - and spending on more business growth stuff. You deduct more than you earned and also deduct the interest payments.
The mere use of a business entity gets you a 20% tax deduction up to $120,000 (unincorporated sole proprietors can get this too, just easier to challenge and audit to fail) and then you can pump another $57,000 into a solo 401k.
An S-Corp designation can somewhat mitigate the self employment taxes.
You can also try paying people in shares/membership interests, parts of specific revenue streams or other noncash things (like free access to your service), so that you can keep your cash position while still making tax deductions.
Just dont run for office, or do, I dont care. Tax code is very understandable to me, it is just a reading comprehension issue.