K

Member
What do you personally take and why?

We all know that taking lower salaries and a bigger dividend should work out better for tax reasons but situations differ.

Whats your personal situation?
 

Investor

Member
@K This is a great question. For small businesses, and the need for personal credit it's beneficial for one to be salaried.

For the purpose of structuring, you can have entities, such as trusts, etc. to own shares and receive dividends. These entities can be taxed, make investments in areas of the economy that legally drive your tax rates down to single-digit percentages, and can also support the lifestyles of the beneficiaries of the entity.

Asset protection and structuring is something to seriously consider early in one's career, such as when you begin to generate mid seven-figures plus. You don't want your parent's CPA to advise you in these strategies. You want someone who services high-net-worth individuals.

Paying a great asset protection attorney and accounting specialists is worth getting a structure in place early. Doing so early can save you millions going forward.

Just my humble opinion.
 

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