My First Million $250M Founder Reveals How The Rich Avoid Taxes (Legally)
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Jan 17, 2024 
Ankur Nagpal, founder of Teachable and a tax optimization expert, shares valuable insights on legally reducing taxes for entrepreneurs. He discusses the generous tax breaks available through Qualified Small Business Stock (QSBS) and emphasizes the importance of strategic planning over traditional CPA advice. The conversation also includes unique tax strategies like leveraging real estate and solo 401(k)s. Ankur even debunks the myth of moving to Puerto Rico for tax benefits, providing a fresh perspective on wealth and happiness in financial decision-making.
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Become a Business Owner
- The US tax code favors business owners and real estate investors.
- Consider becoming a business owner for significant tax advantages.
QSBS: The Most Generous Tax Break
- Utilize QSBS (Qualified Small Business Stock) to eliminate taxes on up to $10 million in gains or 10x your basis.
- Hold C-corp shares for five years to qualify.
Maximize QSBS with Stacking and Trusts
- Maximize QSBS benefits by gifting shares to family or setting up trusts.
- Each trust and family member gets a separate $10 million exemption.