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Don't pay yourself as an employee and don't pay income taxes on your medical expenses
Manage episode 312117576 series 3221675
コンテンツは Andrew Johnson によって提供されます。エピソード、グラフィック、ポッドキャストの説明を含むすべてのポッドキャスト コンテンツは、Andrew Johnson またはそのポッドキャスト プラットフォーム パートナーによって直接アップロードされ、提供されます。誰かがあなたの著作物をあなたの許可なく使用していると思われる場合は、ここで概説されているプロセスに従うことができますhttps://ja.player.fm/legal。
This episode goes over a real world example of a chiropractor that we know that was really paying quite a lot in taxes when he didn't need to. Some of the main points that we go over include:
- In general, business owners should not be paying themselves as employees
- For everyone (business owners and employees), it is possible to pay for your extra medical expenses with pre-tax dollars so that you don't have to pay income taxes on the money you spend on you and your families medical expenses.
- For business owners, some types of insurance that you are paying for can actually be paid for by the bueiness with pre-tax dollars
- We also go over how there are some scenarios where business owners SHOULD pay themselves as employees if there is a justifiable reason to do so
- RRSP money is some of the most expensive money you can ever use if you need to access it before retirement for whatever reason
- Tax brackets have only ever gone up, so don't expect to be in a lower tax bracket when you retire because it might not be the case
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