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5 Ways to Reduce Taxes (legally) for Businesses

In this video, I talk about some basic strategies you can review and employ in order to help reduce your tax liability. Salary optimization is one way to reduce taxes. Then there's accelerated depreciation, which can help with taking more of a depreciation expense up front. Retirement. Can't go wrong there. Self Employed health insurance deduction can be a strong one if it fits your situation. Also employing family members can be a strong one if it firs your situation as well. Check out our other videos related to personal finances and tax, as well as business finances and tax. Our Website: www.nguyencpas.com Join our Facebook group for more active updates:   / nguyencpalounge   Our online course for navigating the pandemic: https://courses.nguyencpas.com/course... Budgeting Playlist:    • Budgeting   Winning in Business Playlist:    • Winning in Business   Tax Playlist:    • Tax   PPP Playlist:    • PPP Information   EIDL Playlist:    • EIDL Information   COVID-19 Playlist:    • COVID-19   This video is for entertainment purposes only. The information portrayed in this video should not be considered as tax or legal advice. Consult with your own tax professional and attorney to get proper advice for yourself.