#249 - Maximize Your Retirement Savings and Minimize Your Taxes: Steve Moskowitz Shares Proven Strategies for Small Business Owners

Description: Welcome to the latest episode of our podcast where we speak with Steve Moskowitz, an expert in tax law for small businesses. In this episode, we delve into a range of topics related to taxes, including some recent changes in the tax law that can help small businesses recover previously paid taxes if they experienced losses in 2020. We also discuss strategies for reducing taxes due in 2020 and 2021, while still saving for retirement. Steve also shares some valuable insights into tax credits that businesses may be eligible for, based on expenses incurred in the past three years, and how to contribute more than what a 401k or IRA allows. We also explore ways to settle disputes with the IRS on your own terms, without incurring penalties or additional charges. Throughout the episode, Steve answers some of the most frequently asked questions on tax law, including how small businesses can pay little to no taxes, just like the Fortune 500 companies. We also cover tax strategy basics for small businesses, and what to do if you're unable to pay your taxes in full. Join us for this informative conversation, and learn how you can navigate the tax code and maximize your benefits as a small business owner. Disclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show. Do your due diligence. Click here to join PodMatch (the "AirBNB" of Podcasting): ⁠https://www.joinpodmatch.com/drchrisloomdphd⁠ We couldn’t do it without the support of our listeners. To help support the show: CashApp- ⁠https://cash.app/$drchrisloomdphd⁠ Venmo- ⁠https://account.venmo.com/u/Chris-Loo-4⁠ Buy Me a Coffee- ⁠https://www.buymeacoffee.com/chrisJx⁠ Thank you to our sponsor, CityVest: ⁠https://bit.ly/37AOgkp⁠ Click here to schedule a 1-on-1 private coaching call: ⁠https://www.drchrisloomdphd.com/book-online⁠ Click here to purchase my books on Amazon: ⁠https://amzn.to/2PaQn4p⁠ Follow our YouTube channel: ⁠https:⁠⁠//www.youtube.com/chL1357⁠ Become a paid subscriber and get membership access to exclusive, bonus, ad-free content: https://podcasters.spotify.com/pod/show/christopher-loo/subscribe Thank you to our advertisers on Spotify. Financial Freedom for Physicians, Copyright 2023