Hello, I have an S Corp and am inquiring if there are any legal ways of reducing my tax liability. I started seeing an accountant late last year and will most likely ask him about this as well but decided to ask Reddit for some advice first.
I am paying approximately 40K/quarter this year in taxes and it could possibly go up after the next few years. I have all my operating expenses accounted for already. I was thinking if I could I use my profits and invest it in the stock market or real estate as my S Corp. Or would this qualify as CapEx and still be taxable?
I know large corporations do offshore tax havens. I don't think I'm big enough nor am I very interested in doing that. Anyways, I am open to any ideas. Thanks in advance.