Do you own your own business? According to Randall Scott Boll, Founder and Chief Tax Architect at BollitProof, there are huge benefits to it. He, along with his BollitProof Philosophy comes up with some points to help you win as a business owner.

According to him, all you need is to form an LLC and file as an S-Corporation as it will change the tax laws significantly. It will help you avoid 15.3% self-employment tax. Forming an LLC and getting structured as an S-Corporation will also give you separation between your business assets and your personal assets. Thus, it is quite important for your asset protection.

Randall Scott Boll also include various small business tax deductions such as business meals, work related travel expenses, work related car use, business insurance, home office expenses, office supplies, phone and internet expenses, business interest and bank fees, depreciation, professional service fees, salaries and benefits, medical expenses, retirement contributions, advertising and promotion, start up expenses, and much more.

Furthermore, he opines that some of the small business expenses are 100% deductible. These include furniture purchased entirely for office use, office equipment, business travel and its associated costs, gifts to employees and clients, your own health premiums, and your annual business phone bills.

About Randall Scott Boll

Randall Scott Boll himself ensures that all his strategies are credited with saving his members millions of dollars in taxes.