The Quantum Leap: 5 Tax Strategies for Entrepreneurs in 2024

Most business owners overpay taxes by six figures annually—not because they lack profits, but because they miss strategic opportunities. Here’s how to redirect those funds into growth:

1. R&D Credits Aren’t Just for Tech

Even restaurants and manufacturers qualify. Example: A bakery client claimed $48K for optimizing supply chain software.

Action: Document all process-improvement experiments annually.

2. The “Double-Dip” Deduction

Structure equipment purchases through a holding company to deduct depreciation and lease payments.

3. International “Tax Arbitrage”

If you have overseas clients, a Gibraltar LLC could reduce effective tax rates to 12.5%.

4. Pay Your Kids (Legally)

Shift income to family members in lower brackets via salaries for legitimate work (e.g., social media management).

5. Crypto Loss Harvesting

Deliberately sell depreciated coins to offset capital gains, then repurchase after 30 days.

Bottom Line: Proactive planning beats reactive compliance.