On this episode, Chris Bird discusses how successful agents know the importance of having a business entity. He also explains stepped up basis, which is a tax benefit that occurs when an asset is transferred after death, and cash balance defined benefit plans for retirement savings. He also breaks down the pass-through entity tax loophole for S corporations or partnerships in states with income taxes to save on taxes without cost. He briefly touches upon LLCs being able to be taxed as S corps while advising agents to consult a CPA.

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