Page 20 - Living Your Life Through Your Business
P. 20
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This would then leave you with an net taxable income of $40,788
Without adding any business income,
The new Fed Tax would be $3,264
The New State Tax would be $1900
This would create a tax savings of $4301
Therefore your entire cost to start you business would be created
by the tax savings you gained from having and owning the new
business and gaining the benefit of business expenses.
Your circumstances may be different and this is only an example to
show you the benefits that may be available.
