Main Street Business 24: How to Accelerate the Payoff of Your Mortgage
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Dec 17, 2014 Discover innovative strategies for accelerating mortgage payoff and sidestepping industry scams. Dive into the transformative effects of the 'sweeping' method and learn how to negotiate better mortgage terms with banks. Experts outline essential tax strategies for small businesses, while emphasizing the importance of financial literacy in personal relationships. Gain insights into leveraging property investments and the secrets to building wealth through smart debt management. A fresh take on financial decisions awaits!
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Utilize HRAs
- Set up a Health Reimbursement Arrangement (HRA) to write off medical expenses.
- This is especially beneficial for small business owners.
Accelerated Mortgage Systems
- Consider accelerated mortgage systems to build wealth faster.
- Be cautious of scams, but know legitimate methods exist.
Paying Children Under 18
- Pay children under 18 through a family management company for tax benefits.
- Ensure each child has their own bank account.