The single largest expense that you will have throughout your lifetime is… taxes.
It is more than your bar bill. More than your mortgage or rent. More than healthcare. (Hint: this is important stuff!)
The wealthy understand that taxes are their biggest expense, and they know how to (or have someone) reduce the amount of their taxes to the lowest amount possible.
Taxes, for most of us, are not an interesting subject. They’re something that we avoid at all costs – until a week before April 15th. But for Josh Bauerle, this is intriguing and interesting stuff. I was able to chat with Josh about some tips on taxes so that we can minimize our taxes and maximize the amount of money that we can keep.
Josh is a financial planner and owner of JDB Business Solutions – a firm focused on tax planning, tax preparation, and accounting services. He has a background in investing and personal finance, so we cover several great questions on money, wealth, investing, and of course, taxes.
Some things that you’ll learn in this video:
- What young professionals need to do right now to get headed on a path towards wealth.
- How you should handle your investments.
- Different ways to have tax-advantaged investments.
- General tax tips.
- And one of the secrets of the wealthy (hint #2: entrepreneurship).
Taxes are absolutely vital to a complete wealth plan. If you can better understand the basics of how taxes impact you, and learn to minimize them throughout your career, you will be substantially more wealthy than just discounting them.
Path Forward:
- Connect with Josh here.
- Implement all that Josh shares to save on taxes and build massive wealth!
Great interview! And so glad you mentioned the items that could be tax deductible for my business. I gotta keep good records! Love these tips.
Exactly, Paul! It makes a huge difference. The wealthy understand this, while the rest do not. You, Paul, are among the wealthy for sure!
great interview, Austin! Josh- great tips, my man!
Agreed!