Understanding Management Companies‼️
Business owners who run LLCs or corporations usually take care of management tasks, pay employees, file taxes, and manage health insurance and 401k plans. 👈🏾
But, if they start a separate management company to handle these jobs, they can get extra tax deductions. 🤑
Plus, they can move some income over to this new company.
This approach makes it easier to hire more workers, including family members like kids. 👍🏾
It’s a smart move that can lead to even more tax savings for the business owner and their family.💰
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