Franchisees

Liability Protection: Form an LLC to cleanly manage business inflows and outflows while protecting assets eductions while saving for their retirement. No tax return necessary if under $12,550 income per year

Tax Credits: Take advantage of credits like the Work Opportunity Credit to effectively scale your business while (Sole Proprietorship vs LLC vs S-Corp)

Employee Your Family: Children & Spouses can be hired through an S-Corp to maximize business dminimizing cost (25 Business Credits)

Home: Rent your home out to your S-Corp for corporation meetings and use an accountable plan to formally run office expenses through your business

Expenses: Expenses like uniforms & team building activities are fully deductible. For 2021-2022 meals are also 100% deductible

Organizational & Startup Costs: These expenses can be deducted up to a $5,000 limit

Depreciation: Expense appliances and infrastructure improvements over the lessor of their service life or lease length

Mileage: Cash out business mileage on a monthly basis by running it through your entity (sample mileage log)

Property Exchanges: Use §1031, like-kind exchanges, on property to minimize recognized gain by deferring realized gains

Retirement: Utilize IRAs and 401ks to defer paying taxes (SEP IRA, Simple IRA, S-401k)