For those of us who can’t buy a rental property during this time of high inflation and massively high interest rates, do not despair! There is a much cheaper way to add another asset to your portfolio and have it assist you in obtaining your financial goals, whether it’s simply paying down credit cards or saving for a rental in the future. The asset that I’m talking about is starting a small business, and anyone can do it! Once you start generating income from your business there are lots of ways to lower the taxable amount, and many strategies to incorporate personal benefits into the equation. (Obviously I am talking about tax avoidance not tax evasion here, but you get my drift) Now, I didn’t say it would be easy- it will probably take more of your spare time at first than managing a rental property. But if you REALLY want to grow your portfolio and your options are limited due to income restraints, I would suggest giving this some thought and seeing if it’s something you are up for because it might just change your life. Agree or disagree? *This content is for educational purposes and is not intended to provide legal or tax advice. It is important to note that your individual circumstances may affect the information provided in this content. I recommend consulting a professional for personalized guidance* #smallbusinesstaxes #rentaldeductions #rentalproperty #investmentproperty#landlord #slumlord #taxessuck #taxrefund #taxdeductions #taxtok #toktax #tokfinance #financetok #depreciation #moneymindset #lifehacks #financetips #personalfinance #smallbusiness #smallbusinessowner #womanownedbusiness #bosslady #bossbabe #entrepreneur #creative #creator #foryou #foryoupage #trendingreels #trendingnow #trending