Hiring tradeoffs and tax tail advice

Ankur advises not to let tax strategy prevent hiring but to consider 1099 vs W‑2 implications.

Play episode from 38:42

chevron_right

Transcript

chevron_right

Transcript

Episode notes

In 2020, Ankur Nagpal sold his course platform, Teachable, for around $250 million. But he knew that the sale would come with a giant tax bill. So Ankur became obsessed with the tax code, and he wanted to make it easier for everyone to legally operate within it. That led him to discover Solo 401(k)s. So he built a new company called Carry that helps you legally keep more of what you earn and invest it the way you want.

This podcast is for informational purposes, and not intended to be financial advice. Please consult a financial advisor about your specific situation.

→ Get Ankur's Free Tax Guide → Sign up for Carry

⁠⁠⁠⁠⁠⁠⁠⁠⁠Full transcript and show notes⁠⁠⁠⁠⁠⁠⁠⁠⁠

***

TIMESTAMPS

(00:00) Introduction

(01:32) Ankur's Crash Course in Tax Law

(08:18) Tax Loopholes and Bias

(11:02) Solo 401(k) Benefits Explained

(14:32) Solo 401(k) Contribution Guidelines

(17:46) S-Corp Tax Benefits Explained

(20:11) Maximizing QBI Deduction Strategies

(23:22) Tax Planning CPA vs Planners