Melanie Johnson & Jenn Foster, owners of Elite Online Publishing, interview Steve Moskowitz, a tax attorney, about the tips and tricks to saving money on your taxes.
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What You’ll Learn in this Episode:
- How to use a pension plan
- How to become an entity
- How to use the employee retention credit (ERC)
Quotes:
“What people don’t realize about the tax system is there’s two purposes to it. To extract money from us, and the other one is in a democracy. The government can’t order us to do something, even though it’s good for the economy.” (1:40)
“What happens is that we put the kids on the pension, once again, we’re not just putting them on the books, we’re giving them fair market value for services they actually perform. When that kid graduates from college, instead of having a whole bunch of school debt they have a nice fat bank account or stock account or other investment account.” (11:54)
“If you’re a real estate professional, that’s an exception to 469, and you can write off passive losses against active income. With a married couple filing a joint return, only one has to qualify as real estate professional.” (21:42)
About Steve Moskowitz:
Steve Moskowitz knows that clients’ lives – and livelihoods – can be upended or even destroyed when tax trouble arises. As a tax attorney for more than 30 years, Steve has made it is his personal mission to help business owners and individual clients successfully resolve tax issues and go on with their lives. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he has unusually perceptive judgment in assessing the best way forward, and the right resources to achieve resolution.
Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm, and with extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew, and wanted to make the critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action.
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Video URL: https://youtu.be/tDmhI4Dsa00
Website: https://EliteOnlinePublishing.com
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