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Founder's Journal

How to Optimize Taxes as an Entrepreneur

Founder's Journal

Morning Brew

Careers, Business, Entrepreneurship

4.81.1K Ratings

🗓️ 10 January 2024

⏱️ 18 minutes

🧾️ Download transcript

Summary

Episode 92: Today, we’re talking about Founder personal finance. My buddy Ankur Nagpal is the Founder & CEO of Carry, a business that helps business owners build wealth in a number of ways, most notably with their Solo401k product. And he is probably the smartest person i know as it relates to tax strategies and wealth preservation tactics for entrepreneurs. So on this episode of the pod, Ankur runs through everything from the QBI deduction for business owners to what business type (like llc, c-corp or s-corp) is most advantageous, deducting your home office, the power of a solo401k and more. Send us an email and let us know what you think of the idea! [email protected] #FoundersJournal #Startups #Entrepreneur Listen to Founder’s Journal here: https://link.chtbl.com/OV4W93_W Watch Founder’s Journal here: https://www.youtube.com/@FoundersJournal/ Subscribe to Morning Brew! Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! Instagram - https://www.instagram.com/morningbrew/ Twitter - https://twitter.com/MorningBrew Tik Tok - https://www.tiktok.com/@morningbrew Follow Alex! Alex Lieberman (@businessbarista) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What's up everyone? Welcome back to another episode of Founders Journal. I'm Alex Lieberman,

0:05.0

co-founder and executive chairman of Morning Brew. Today we are talking about

0:09.2

founder personal finance. My buddy Anker Nogpahl is the founder and CEO of

0:14.3

Carrie, a business that helps business owners build wealth in a number of ways,

0:19.1

most notably with their solo 401k product. Anker is probably the smartest person I know

0:25.3

as it relates to tax strategies and wealth preservation tactics for entrepreneurs.

0:30.0

So on this episode of the podcast, he runs through everything from the QBI deduction for business

0:36.0

owners to what business type like LLC, C Corp or S Corp is most advantageous, how to deduct your home office, and the power of a solo 401k as well as much more.

0:47.4

If you're like me and you don't know the ins and outs of personal finance and tax specifically for entrepreneurs, you will absolutely want to listen to this episode.

0:56.7

So let's hop into it. Entrepreneers know that after end of year starts yet another crucial season beginning of year.

1:14.0

Don't waste time by manually sending out invoices and following up on overdue payments.

1:19.0

And definitely don't throw away your hard-earned profit on transaction fees.

1:24.7

Avoid expensive payment processors and start off 2024 strong with a little help from Finley.

1:31.2

Finley is a digital back office platform that helps businesses manage all of the time-consuming

1:36.7

operations that come with, well, running a business. No need to hire a team of employees to send out invoices in quotes, follow up on payments, and track inventory.

1:47.0

Automate your business with Finley.

1:50.0

The best part, Finley doesn't break the bank.

1:52.0

The annual plan is $397 per year so you can set it and forget it.

1:57.6

And if you don't love it, no problem.

1:59.8

If Finley doesn't help you run your business better within the first 30 days, you'll get a full

2:04.6

refund. Get started at Finley.com slash Founders Journal, that's F-I-N-L-I-D-C-C-C-C-C-O-T-C-O-T-L-I-D.

2:19.0

Unker, long time no talk.

...

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