HOW TO PAY LESS TAXES BY FINDING MORE DEDUCTIONS, WRITE OFFS AND TAX LOOP HOLES
YOU ARE PROBABLY PAYING TOO MUCH IN FEDERAL TAXES
WE CAN HELP!
How to pay less taxes. How to write off everything, almost! Pay less taxes by using little known tax loop holes. Get tax relief and tax reduction by utilizing these tax strategies that let you pay less taxes or even pay no taxes. Learn simple, little known tax strategies to increase your refund & minimize or eliminate any tax liability. Free consultation. 877 604 6636 ask for Bruce
Many thousands of people every year, all over the country pay too much in federal income taxes. Ironically, this often is the result of trying to avoid declaring income, in an attempt to pay less taxes. Often times it makes more cents to declare more money. How is this possible? The simple application of the principles below will save you hundreds-- maybe even thousands!
If you will be preparing your own taxes... I suggest that you use the online Turbo Tax program below. It's fast, it's easy, it's accurate, (I often use it in our tax practice) AND It will save you time and a lot of money, a simple return is actually FREE! But before you actually file, be certain to study the principles below and take advantage of them. They can literally save you thousands! If, on the other hand, you want a professional who is dedicated to finding the legitimate deductions and write offs that that most preparers just don't look for, call the All Solutions Network at 877 604 6636 or write to bruce415 at Yahoo.com HAVE YOU ALREADY PREPARED YOUR TAXES, BUT DIDN'T LIKE THE RESULT? Let us take a look at them. If we can't decrease your liability, or increase your refund by, at least, Twice the amount of our preparation fees (usually $100 to $200), we won't charge you! Earn $5k per Month FROM HOME in the Finance Industry-- http://www.affairsoflife.com/officers.htm
|
Many people “forget” to declare the $500, $1,000, or $2,000 they made on the side, in order to avoid paying taxes on it. What they often don’t realize is that in making that money they often had huge write-offs available that would not only completely offset the income made, but actually reduce their taxable income from employment.
DO NOT FORGET THIS! IF YOU MADE MONEY-- YOU ARE IN BUSINESS-- and if you are in business-- you have write-offs... here are some examples...
Note: For a business that requires no investment, but allows for great income, that allows you to earn money from everything, save money on everything, and also acts as a great tax shelter, see allsolutionsnetwork.com
*Note: The following is not to be
construed as legal advice. But
rather, a general
overview of tax advantages that are often available but missed.
Generally, all expenses incurred in the maintaining or expanding of any
endeavor intended to make money or increase personal assets are deemed as tax deductible.
1.
HOME. Your home
often is your place of business. Are
you using your living room to hold business meetings;
do you have a spare room for an office? Do you make coffee for your
clients? Do you have a place in the
home that you store your tools of trade? Since
you are allowed tax deductions for the upkeep of your place of business, you are
allowed deductions for maintaining your place of residence.
1.
If you own your own home, you have the right to depreciate a percentage of
the home's total square footage depending on the percentage of your home that is
used exclusively for your business.
2. If you rent, you are
paying not only for living quarters, but for rental on your place of business,
as well. You may therefore be entitled to write off a substantial
portion of your
monthly rent as a business expense.
Example: You rent your home
for $900 per month, assume one third of your home is used exclusively for
business means that 33% of it or $300 per
month could
be tax deductible. 300 x 12 =
$3600 allowable income tax deduction.
3. Do you have utilities, electricity, gas, phone, etc. Up to a third of these can be deductible.
2.
AUTO. Any driving
which takes you to or from any place in which you have performed or intended to
perform some action or actions which in some way directly effects your business,
is allowed as a mileage deduction.
Let us say the allowable mileage deduction for the year of filing is 32 cents per mile.
(again, you should check on current tax information.)
If during the year you drove 10,000 business miles, your allowable
mileage deduction would be 10,000 mi. x 32 cents = $3,200
Some examples of allowable mileage deductions:
a.
Driving to and/or from a meeting with customers or partners.
b.
Driving any place in which you will attempt to meet new customers.
(parties or other gatherings).
d. Any driving done in which you will subsequently attempt to make
retail
sales or deliver merchandise.
Another option is to lease a car for your business purposes. If this is done, virtually every cent invested into the auto
will be tax deductible. (monthly
payments, repairs, etc. )
3.
BUSINESS MEALS.
Any time that you dine in any restaurant or other such
establishment, it will be considered a business meal and therefore tax
deductible if you were in the company of a prospective customer or business
associate (your spouse is a business associate); and if during the course of the
meal, some aspect of the business was discussed. Check current tax information
for correct allowable percentage.)
4.
TRAVEL EXPENSES Virtually
all expenses incurred during the course of traveling with the purpose of
maintaining or expanding your business are tax deductible.
For example: Let us say you live in California and for the purpose of
expanding your business or meeting with prospective customers or partners, you
decide to spend two weeks in Florida. You
would fly to Florida and secure your accommodations.
In the course of your stay you would, of course, make several attempts to
expand your customer base or find investment properties. See (No
Down Real Estate), At the
end of your two weeks, you fly home, and virtually all expenses incurred will
have been deductible. (air fare,
hotel expenses, meals, etc.)
In every case shown above, you must keep accurate records if you are to
qualify for the tax deductions.
Here’s an example of how I used these facts for a friend
of mine...
To keep me from getting bored, as one of my hobbies,
on weekends, I’m a professional musician.
Well, one evening at band practice a couple of years ago.
My bass player commented that he was mad because he had just gotten his tax
returns back from his preparer. He
had used a nationally known company and according to their calculations, he had
a $63 dollar refund coming.
I was very familiar with his financial situation and
told him that simply was not right. I
asked him how he had handled his band income.
He, like so many others, had not reported the income thinking
that this would reduce his tax liability.
I
suggested that he allow me to redo his taxes, add the income, but also take
advantage of what I knew were deductions that he had available.
I used the tax principles alluded to above, plus write-offs for equipment
he had purchased. When all the dust
had cleared, his refund was almost $1,800 dollars.
Remember,
when it comes to taxes, examine ALL angles Don't
cheat. Don't lie. But, don't needlessly give your money away!
When you have your taxes prepared, make certain that you use a professional
who will ask you the questions that will allow you to minimize your
liability.
Is it possible that you've been paying too much in taxes? Are you missing some of the loop holes that could allow you to keep more of your money? If you are concerned that you are or have given the government more than its fair share of your money-- Feel free to call for a free consultation, or Email us.
The Paralegal Network (916) 532-3795 OR Email--Paralegal Network
Do you have a business and not even know it? Are you a mechanic? Cake decorator? If not, you may want to consider starting a business. Worst case scenario, it can minimize your tax liability; best case, you might get rich! Looking for a potential business? Click here for ideas to increase your income.
Have a question? Need advice? Write to the Forum
Other All Solutions Services and Oppurtunities that you might find useful.
Credit Repair-- http://www.rentownsolutions.com/creditrepair.html
Free Credit Report-- http://allsolutionsnetwork.org/credit_report.htm
Bankruptcy-- http://www.rentownsolutions.com/bankruptcy.html
Home Loans with Bad Credit-- http://allsolutionsnetwork.org/real_estate_loans.htm
Earn $5k per Month FROM HOME in the Finance Industry-- http://www.affairsoflife.com/officers.htm
Short Term Loans Even with Bad Credit-- http://allsolutionsnetwork.org/payadvance.htm