My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“the US tax code is rigged in favor of business owners”
What It Means
The American tax system intentionally provides significantly more tax reduction opportunities for business owners compared to employees
Why It Matters
Understanding this bias helps individuals make better career and income structure decisions for wealth building
When It's True
For most business owners with legitimate business expenses and proper documentation
When It's Risky
When starting businesses solely for tax benefits without viable business model
How to Apply
Evaluate employment vs business ownership for tax implications
Structure income through business entities when possible
Justify business ownership decisions beyond just tax benefits
Example Scenario
“W2 software engineer paying 35% effective rate considers consulting to access business deductions and potentially reduce to 20% rate”