Monthly Archives: April 2021

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Episode 19 – Saving Taxes By Employing Your Kids

You could be paying your child as an employee as a way to increase your tax savings. 

Does that sound a little too good to be true? We are here to tell you, it’s not! 

In this episode, Barry Watts explains how you are able to set your child up as an employee for your company earning an income that will allow you to spend pre-tax dollars on them! Barry goes into detail about how this unique strategy works and why few people are taking advantage of it! 

You will learn: 

  • How you can implement this strategy into your business 
  • Who is eligible to take advantage of the tax deduction  
  • At what age your child is eligible to participate in this strategy  
  • Barry’s suggestions on what your child could be doing for your business to make them considered an employee 
  • How this strategy could be set up to give your child savings for the future 
  • And more!

Tune in now to equip yourself with information that could help you use pre-tax dollars on your child’s expenses! 

Resources: | J. Barry Watts 

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Episode 18 – The $200,000 Tax Deduction I Personally Use

You did not read the title incorrectly! 

There is a $200,000 tax deduction that you could be using! And many times, we don’t see people taking advantage of it. 

In this episode, Barry Watts and Eric Burlison dive into conversation about a huge tax deduction that Barry is already using, and how you could be using it too! They speak about how this type of pension plan benefits the employer and lets you tip the scale in your direction. 

You will learn: 

  • How the tax deduction works for employers 
  • Why people stopped using this type of account 
  • The benefits it has to the employer 
  • How anyone can take advantage of this account, even if you are not currently a business owner 
  • And more!

Tune in now to discover the tax deduction plan that is going to help you keep more money in your pocket and push the scale back in your favor. 

Resources: | J. Barry Watts | Eric Burlison