Top Tax Hacks for Entrepreneurs!

May 06, 2025•1 min read

R. Kenner French discusses five essential tax hacks for entrepreneurs that can significantly lower their tax liabilities and enhance their financial strategies. He emphasizes the importance of understanding defined benefit plans, installment sales, captives, IRS 1202 QSBS, and R&D tax credits.

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Each of these strategies offers unique benefits for business owners looking to optimize their finances and grow their businesses. Kenner also encourages entrepreneurs to seek knowledgeable advisors to navigate these complex tax issues effectively.

Takeaways

• Five tax hacks can help entrepreneurs save money.

• Defined benefit plans can lower taxes while building retirement savings.

• Installment sales can reduce tax liability when selling a business.

• Captive insurance can lower both risk and tax liability. IRS Section 1202 QSBS can minimize tax impacts for C corporations.

• R&D tax credits are available to support innovative businesses.

• Consulting with knowledgeable advisors is essential for success.

• Strategic tax planning can significantly increase net worth.

• Entrepreneurs should proactively seek available tax benefits.

• Understanding these strategies is vital for long-term business growth.

Sound Bites

• Five tax hacks for entrepreneurs.