Brent Carlson explains key tax strategies for business owners, focusing on how LLCs can offer flexibility in tax elections, such as S or C corporations. He advises consulting with CPAs to determine the best structure as businesses grow, emphasizing the importance of tailored strategies for long-term success.

A standout approach Brent discusses is using family management companies to legally pay children under 18 up to $15,000 annually, tax-free. “I’ve been able to save a substantial amount by moving $45,000 through my family management company for my kids,” he shares, illustrating its practical benefits.

He also highlights the Augusta Rule, which allows up to 14 tax-free meetings in a home per year, with deductions averaging $2,000 per meeting nationally. Brent stresses that implementing strategies like these requires proper planning with accountants throughout the year, urging attendees to ensure their CPA is proactive in helping them maximize available benefits.