On today’s SBAM Weekly Podcast, Michael Rogers talks with tax planner Stephanie Squires, owner of SCS Capital in Livonia. “One of the things that I think small business owners can do is look at the IRS rules when it comes to taking salaries,” she says. “One or two things can be done. They can take a salary, and take some hours of distributions, because they’re bypassing a lot of the Medicare and Social Security taxes. And the other option that I see a lot of times is doing employee benefits. The employer or the small business owner providing these, it actually is an expense for them, and therefore reducing the amount of taxes that they owe on the overall income of their business.”
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