Student Loan Planner Why you should start a business (yes, really)
Oct 15, 2019
38:00
There are many reasons you should start a business. Business owners tend to make more money than associates. A business owner could pay less taxes than an associate, too. Overhead is often 45% to 60% depending on the practice, which means profit would be 40% to 55% instead of 28% to 33% as an associate. I spell out all the benefits of owning a business.
In today’s episode, you’ll find out:
- Why you should start a business now even if you have student loans
- What makes the risk of being an entrepreneur lower than you think
- Why a dentist probably shouldn’t open a restaurant business
- Legal write-offs to save 50% or more in taxes
- Why adding your spouse to your payroll can help the business
- How self-funded pension plans can fuel your retirement
- The advantage of a fiduciary financial planner for your business
- Why private practice is a better choice than PSLF
- How your business can help your REPAYE subsidy
For more information, visit the show notes at https://www.studentloanplanner.com/why-start-business/