How a side business can lower your overall tax bill

Name: How a side business can lower your overall tax bill
Duration: 63 s
Description: Start a business to write off meals, travel, and mileage tax-free, then only pay taxes on the remaining profit.

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If your only income is a W-2, your tax bill is pretty much locked in. But add a side business that actually makes money, and suddenly dinners, travel, and mileage can flow through the company as legitimate expenses—benefits you enjoy tax-free. TJ explains how the math works and why a slightly higher tax bill on paper can still mean more wealth in your pocket.

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