My business partner and I have built a very successful online coaching business that is almost entirely automated. We have both followed many of the principles you lay out in your book, The Millionaire Fastlane .
After 4 years of hard work, this time last year our business was making a mere $500 a month, 3-400 of which were expenses. Countless time invested with no return. December 2017 we finally hit. It has been exponential since and last month we grossed $85,000. 80% being profit.
This is all new to us and we have not come up with a good plan for actually KEEPING everything we are now saving.
I've looked into moving the business off shore, moving it to states without income tax, changing the LLC to a C-Corp, purchasing realestate under a different entity, etc.
My accountant advises to put it into a retirement fund but obviously no.
My question is what would you advise to do so that the government doesn't tax us 42% and take almost half of all of our hard earned money.
Thank you again for all that you bring.
After 4 years of hard work, this time last year our business was making a mere $500 a month, 3-400 of which were expenses. Countless time invested with no return. December 2017 we finally hit. It has been exponential since and last month we grossed $85,000. 80% being profit.
This is all new to us and we have not come up with a good plan for actually KEEPING everything we are now saving.
I've looked into moving the business off shore, moving it to states without income tax, changing the LLC to a C-Corp, purchasing realestate under a different entity, etc.
My accountant advises to put it into a retirement fund but obviously no.
My question is what would you advise to do so that the government doesn't tax us 42% and take almost half of all of our hard earned money.
Thank you again for all that you bring.
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