Stephen ScogginsFounder - CEO, Lion - Lamb Solutions · Founder CEO Unstoppable Solutions

FULL EPISODE TO SAVE YOU MONEY 👉🏻🎙️ #podcast #unstoppable #wealth #businesstips #success

1 Apr 2023 · 1 min

Watch on YouTube

0:52

Speaker advises that taxes are effectively paid when you spend or save money, and recommends reinvesting business profits back into the economy (especially into your business) to obtain tax deductions. When you can no longer absorb investments into the business, seek investments that provide tax benefits to preserve cash flow and accelerate compounding of wealth.

Chapters

Put it into energy. Whatever you're doing to build your wealth, you don't have to pay tax on that money. You pay tax on money you spend or save. That's the only tax you ever pay is money you spend or save. But if you put it back in the economy directly, then you'll get a tax benefit for it. You'll get a tax deduction. You won't be paying high taxes. So that's really the next evolution is going, okay, I now am making money. I need to start building wealth. If you can build wealth all back in your business, I mean, we all know that the best investment we ever make is going to be our business, right? There comes a point when we can't invest it all back in our business. And at that point, Case, then we need to look at, okay, so what do I invest it in that gives me the tax benefit? And the tax benefit is important because it frees up cash flow. And the more cash flow I have, the more cash I have available, which includes cash from not paying tax. Right? Cash that I would otherwise give to the government. Then the more I can invest and the faster that compounding effect works.