How to lower your tax bill ⬇️⬇️ Did you know that investors and business owners pay some of the lowest taxes? It’s no coincidence that the wealthiest people use these strategies to keep more of their money. Here’s how you can, too: 1. Become a business owner – The tax rate for incorporated businesses is much lower than personal income tax. For example, in Canada the small business tax rate federally is 9%, and can go up to 33% for personal NOT including provincial taxes on top. And if you’re in the US, small businesses also benefit from lower tax rates. You can even pay yourself a dividend instead of a salary, which is taxed at a lower rate—meaning more money in your pocket! 2. Start investing – Investors win big when it comes to taxes. With tax-advantaged accounts like the TFSA or RRSP (Canada) and Roth IRA or 401k (US), you can grow your money without giving so much of it to the government. 💡 Plus, long-term capital gains are taxed at lower rates than regular income in both countries, which makes investing one of the smartest moves for building wealth and lowering your tax bill. 3. Invest in real estate – Want to lower your taxes even further? Real estate is a goldmine for tax savings. With depreciation, you can reduce your taxable income—without losing any actual cash. That means you’re not only building wealth through property appreciation but also lowering what you owe to the government! 4. Max out tax credits – Don’t sleep on those credits! Whether it’s the CWB or Climate Action Incentive in Canada, or the Child Tax Credit in the US, there are plenty of ways to reduce your tax burden that most people miss. 5. Work with a tax pro – Want to unlock all the tax advantages like the wealthy do? A tax expert can help you navigate business deductions, investment strategies, and more. Sometimes, it’s the smartest investment you can make. 🙌 Taxes may be your biggest expense, but with the right moves, you can keep more of your hard-earned money and legally pay less. 🔥

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