Another powerful presentation from The Minority Business Accelerator (MBA) and PNC Bank on Demystifying MBE High Growth Business Strategies presented on December 6th online hosted by Enyi Kanu, CEO of Kanu Asset Management, Curtis Hollis, COO of the MBA and Alexandria Abell, PNC's Minority Business Relationship Manager. A critical topic of the event was thinking about taxes and understanding the power of the IRS codes 7702, 1401, 732, and 170. An important takeaway is to identify red or green light professionals. The red-light professional completes your tax, whereas the green-light professional provides advice on your taxes. The goal is to seek and collaborate with a green professional.
The next nugget is to consider how you are planning for taxes. Are you planning to seed, growth, or harvest for taxes? It is advised to self-evaluate your taxable life and determine if you will claim your savings at the beginning or the end. The goal is to reach age 50 and be at the summit of your earnings.
Consider your taxable life plan for today and tomorrow.
Learn more about your economic health by contacting Kanu Asset Management.