Reducing Your Tax Burden When Selling Your Business With Crystal Stranger [Ep.148]

<p>We're back with a brand new episode!<br /> ________________________________________</p> <p><span style="font-weight: 400;">Nothing is certain except death and taxes.</span><span style= "font-weight: 400;"><br /></span><span style= "font-weight: 400;"><br /></span><span style="font-weight: 400;">As a business owner, taxes are a double whammy—they affect both your personal and business life.</span></p> <p><span style="font-weight: 400;">Imagine working hard to build a business that’s set to change your life when you sell it, only to watch taxes eat away at your profits.</span></p> <p><span style="font-weight: 400;">Thankfully, there are savvy tricks entrepreneurs can use to shrink taxes and pump up profits when selling their businesses.</span></p> <p><span style="font-weight: 400;">That’s where Crystal Stranger comes in. Crystal is the Partner & COO of Cleer Tax, a company that helps US businesses and entrepreneurs navigate their taxes. </span></p> <p><span style="font-weight: 400;">In this episode, Crystal joins us to discuss the various strategies entrepreneurs can use to reduce the amount of tax incurred when building and selling their online business. </span></p> <p><span style="font-weight: 400;">She unpacks the most common types of taxes that businesses encounter and how to structure your business to cut down on the taxes you have to pay.</span></p> <p>Crystal also exposes the big tax blunders many business owners make—like skipping tax filings or setting up shop in high-tax states. According to Crystal,</p> <blockquote> <p><em><span style="font-weight: 400;">“A big mistake I see entrepreneurs make is using state addresses for vanity reasons, like having a California or New York address to make their business look established or cool. Some entrepreneurs also sign up for mailing addresses without specifying the location. Putting these addresses on your website, invoices or communications can create large tax liabilities in those states.”</span></em></p> </blockquote> <p><span style="font-weight: 400;">We al