No one said not to make money. The key, I will repeat, is to keep your Federal taxable income down. If some clown reads that as saying not to make money, that is truly their problem.
Ask Mitt Romney if low Federal taxable income equals low income. You don't have to lose a billion dollars to take advantage of the Byzantine tax codes.
A 50 year old owner of a business can put $59,000 into a 401k this year, as can their spouse.
Then each throw in $25,000 in profit sharing. That's without taking a single business deduction, or personal deduction for that matter. Instead of living on this weeks paycheck, you live.on last year's profit.
Fools scoff. The wise nod, knowingly.