Small business owners that are making a lot of money and want to reduce their taxes today can benefit greatly from the addition of a cash-balance plan on top of their 401(k) plan.

The more government takes in taxes, the less incentive people have to work. What coal miner or assembly-line worker jumps at the offer of overtime when he knows Uncle Sam is going to take sixty percent or more of his extra pay? . . . Any system that penalizes success and accomplishment is wrong. Any system that discourages work, discourages productivity, discourages economic progress, is wrong. If, on the other hand, you reduce tax rates and allow people to spend or save more of what they earn, they’ll be more industrious; they’ll have more incentive to work hard, and money they earn will add fuel to the great economic machine that energizes our national progress. The result: more prosperity for all — and more revenue for government.4

when personal incomes are taxed 50, 60 or 70 percent. People begin to ask themselves why they should work six, eight or nine months of the entire year for the government, and only six, four or three months for themselves and their families. If they lose the whole dollar when they lose, but can keep only a fraction of it when they win, they decide that it is foolish to take risks with their capital.

I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.

Any system that penalizes success and accomplishment is wrong. Any system that discourages work, discourages productivity, discourages economic progress, is wrong. If, on the other hand, you reduce tax rates and allow people to spend or save more of what they earn, they’ll be more industrious; they’ll have more incentive to work hard, and money they earn will add fuel to the great economic machine that energizes our national progress. The result: more prosperity for all — and more revenue for government. A few economists call this principle supply-side economics. I just call it common sense.

learned from those I interviewed that tax efficiency is one of the most direct pathways to shorten the time it takes to get from where you are now to where you want to be financially.

You need to pay close attention to three types of taxes as an investor: 1. Ordinary Income Tax. As stated, if you’re a high-income earner, your combined federal and state income taxes are nearing or exceeding 50%. 2. Long-Term Capital Gains. This is a tax on investments, which is only 20% if you hold your investment for longer than one year before you sell. 3. Short-Term Capital Gains. This is a tax on investment gains if the investment is sold before you have held it for a minimum of one year. Today the rates are currently the same as ordinary income taxes. Ouch!

You can do everything right: find a fiduciary advisor, reduce your fees, invest tax efficiently, and build up a Freedom Fund.

You can’t tax business. Business doesn’t pay taxes. It collects taxes.

6. Buy something of equal or greater value. To avoid paying any tax at the time of the exchange, you have to buy property of equal or greater value and reinvest all of the cash.

If you conscientiously manage your investments for tax efficiency, your 7.5% allows you to double your investments in 9.6 years instead of 24 years! Now do you see the importance of both tax and fee efficiency?

Brainstorm about all the recurring expenditures that you could eliminate or reduce to cut your expenses. Car insurance, cell-phone bills, lunch money, movie tickets. Think about where you can make changes.

I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.

When startups start to run low on cash, they can extend the runway two ways: by cutting costs or by raising additional funds. But when entrepreneurs cut costs indiscriminately, they are as liable to cut the costs that are allowing the company to get through its Build-Measure-Learn feedback loop as they are to cut waste. If the cuts result in a slowdown to this feedback loop, all they have accomplished is to help the startup go out of business more slowly.