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17min chapter
#489 Accountant Q&A: Watch this to BEAT the IRS (legally)
Main Street Business
Strategic Planning and Legal Structures for Agricultural Businesses
The chapter delves into the strategic planning and legal considerations necessary for agricultural businesses, emphasizing the importance of setting up LLCs, trusts, and separate entities for tax efficiency and protection. The discussion covers topics such as zoning, property ownership, inheritance implications, and tax considerations for farming operations. Additionally, insights on utilizing Professional Employer Organizations (PEOs) and maintaining solo 401k status in complex ownership structures are provided, highlighting the need for professional consultations for long-term asset protection.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode