In Tennessee it’s not as much advantage due to no state income taxes and additional Franchise and Excise taxes. Less earnings also reduces what I can put in solo 401k company contribution and less income that gets counted towards the social security in the future.
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Mark as always great advice 👍
finally the truth! thanks Mark for keeping it real
In Tennessee it’s not as much advantage due to no state income taxes and additional Franchise and Excise taxes. Less earnings also reduces what I can put in solo 401k company contribution and less income that gets counted towards the social security in the future.
Exactly there are a few States where it's less attractive and where it becomes even more of a case-by-case
i tihnk i'm going to be close to needing to include a balance sheet this year.
It never hurts to have a balance sheet!