{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Simplify My Numbers | Saving 7-6-5 Entrepreneurs 5 Figures in Taxes","title":"11. Tax Strategy Showdown: Which Options Win for the 7-6-5 Entrepreneur","html":"","width":"100%","height":180,"duration":589,"description":"What's the one tax strategy that beats all the rest for a seven-figure business owner? I put myself on the spot and let my producer grill me with a rapid-fire game of \"this or that\" to find out.\nHe threw two tax strategies at me at a time, and I had to pick a winner between them, working through everything from S corp elections to cost segregation to short-term rentals. While no single strategy is ideal, this allows us to compare the different benefits each tax maneuver can bring to entrepreneurs.\n\nHighlights\n\nDefining who the \"seven-figure\" or \"765\" entrepreneur really is: gross revenue in the seven figures, net profit in the six figures, and roughly five figures in taxes\nS corp election vs. accountable plans, hiring your children, and the Augusta Rule\nCash balance pension plans vs. solo 401(k)s for serious tax deductions\nCost segregation on long-term rental property vs. real estate professional status (RPS)\nWhy short-term rental strategy keeps winning out over real estate professional status, Section 179 vehicle deductions, R&D tax credits, and bonus depreciation\nThe final verdict on the single best strategy for most seven-figure business owners — and why combining strategies is often the smarter play\n\nChapters\n\n0:00 — Game Setup\n1:24 — Who Is Seven Figure\n2:09 — S Corp Versus Basics\n3:27 — Retirement Plan Showdown\n4:37 — Real Estate Loss Unlocks\n5:12 — Short Term Rental Wins\n7:55 — Final Picks And Caveats\n\nWant to keep more of what you earn? If you’re a 7-6-5 business owner ready to move from financial chaos to CFO-level comfort, visit www.simplifymynumbers.com to schedule a call with our team. \n\nSubscribe and leave a review on Apple or Spotify to help us grow the community, and be sure to share this episode with a fellow founder.\n\nThis show is designed to be used for educational and informational purposes. For your own situation, be sure to contact a tax professional directly.\n\nThis show is part of the ICT Podcast network. For more information, visit...","thumbnail_url":"https://img.transistorcdn.com/E0Gc0wU8bIWldC9D-uQsDKrcetNgirG15Ha3M58Rug8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mOWQy/MjhlZDliMTMzYTZk/Yjc5OTIzYzcxYzc5/NTYyNy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}