The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/a-true-tax-strategy-or-not-12489793.aspx

Subject:  A True Tax Strategy . . . Or Not? Date:  4/29/2000  2:21 PM
Author:  oreck Number:  35162 of 121594

What do you think of this approach of a person deciding to start his/her business:

Read tax strategies books, then design the business and incorporate all of those tax strategies into it prior to starting it. Then once you have a clear understanding of how you'll be able to lower your tax burden this way (legally) you can then go ahead and start your business.

This way you don't just do what everybody else does . . . start a business, don't ever read tax strategy books, then 2 weeks before April 14 take all records to a CPA and trust that he/she will do the right thing.

MY QUESTION:What do you think is a better approach, or is there even one better than these 2 choices?

Planning before starting allows you (I think) to take advantage of all the little things that add up over the years when compared to not designing a business to take advantage of those opportunities.

What you think?
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us