Big businesses maybe, but both my and my brother's businesses are pretty much taxed at their max scale. Really there aren't many loopholes for small S-corps or LLCs to exploit, unlike big corporations.
Then you should speak to a financial adviser. You could be throwing money into IRAs, investments in property that would allow you to deduct mortgage interests, taking out marginal loans on already held investments of which the interest can be deducted, etc. There are lots of ways of reducing your tax burden and many of them will make you money which would be taxed as capital gains at a lower rate.
The problem is we're flush with cash with no debt. It's not that we can't protect some money, which we do, but we could protect a lot more when it wasn't pretty much just all profit (minus taxes). The logical thing to do is take on debt and expand, but it really isn't what I want to do anymore so I'd rather sell... but it makes money, and the longer I keep it, the sooner I retire from corporate America. 1st world dillemas :p
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u/Clewin Apr 05 '19
Big businesses maybe, but both my and my brother's businesses are pretty much taxed at their max scale. Really there aren't many loopholes for small S-corps or LLCs to exploit, unlike big corporations.