Here is how I would structure your business with bank accounts 👇#pt #taxoptimization #businesstips

This is the basics of how I suggest you setting up your business to optimize your tax strategy. So first thing, you want to have three bank accounts. The first bank account is a everyday transaction account. The second one is a online savings account and the third one is also an online savings account. The second and third online savings accounts, you do not have a card associated with that. The second one is called a war chest. A war chest is basically an account that is saving for a rainy day, so three to six months of expenses and then the third account is a tax account. So my suggestion was is depending on your situation, between 20 to 30% of how much money you make as a business would go into your tax account and 10% of how much you make would go into a Warchester account. So if you want more information, send me a DM and I can run you through some different tax strategies to optimize your business.