What if your biggest expense isn't your mortgage, but your income tax? In this episode, John Jantsch sits down with Jack Ojo, founder of Ojo Wealth Strategies and author of Two Smart to Be an Umpire, to break down how small business owners can legally reduce taxes and build real wealth. They cover how to reduce taxes as a small business owner, when to choose S corp vs LLC for tax savings, defined benefit pension plans for high income earners, Roth conversion strategies, and why maxing out your 401k still matters. If you're an entrepreneur looking for smarter tax planning strategies that protect against worst-case scenarios while accelerating long-term wealth, this episode delivers practical, actionable advice.
Today we discussed:
00:00 From Umpire to Wealth Advisor
03:07 Reinventing After a Career Setback
06:52 Biggest Tax Myths Business Owners Believe
10:30 What to Do After a Banner Revenue Year
12:57 Salary vs Distributions Explained
14:35 Multi-State Employees and Tax Strategy
16:36 Why 401k Plans Still Win
18:31 Paying Your Kids Through Your Business
21:07 How to Connect with Jack
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