In 15+ countries around the world, including the U.S., the government wants more independent businesses — and, let’s be honest, the jobs they create. The government wants them so much, in fact, that it offers a bunch of financial incentives to sweeten the deal.
Let’s look at one of the most common incentives: tax deductions.
Money that a business spends on growth and operations is typically subtracted from revenue before the government calculates income tax. That includes:
Funds to pay for your staff
Materials to make your product
Lease payments on your facility
Interest on a small business loan
Advertising and marketing
The list goes on and on.
And these deductions aren’t the only way governments promote business investments. You’ll find more in Chapter 2 of Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make.”
What does that mean for you? If you already own a business, ask yourself 3 questions:
1. Where is the biggest growth opportunity for my business today?
2. What do I need to do to realize that growth?
3. How can I make that investment deductible?
If you don’t already own a business, ask this:
What business do I want to start?
Need help? Our team would love to connect. Schedule a call today and find out how the TFW Advisors® system can help you — and your business — make way more money and pay way less tax.