Tax Write Offs for the Self Employed…Learn 101 Ways To Reduce your Taxes Legally…
Unfortunately, we had been students of self-employed tax deductionsstrategies for over 20 years before we learned what I’m about to share with you regarding tax reduction tips.
I was shocked when we first found out that as self employed owners there were more tax loopholes than the limited itemized tax deductions that we had routinely rehearsed and become accustomed to.
My husband and I thought we were savvy entrepreneurs especially when it came down to self employed tax deductions solutions. (He said I knew how to squeeze a dollar to make George holler)
Boy when we found out that we were severely losing out on Thousands of dollars per year from not maximizing self employed tax deductions expenses…well it was just a bitter sweet experience. We weren’t pleased campers to say the least. Now don’t get me incorrect we weren’t blaming anyone.
It was sort of like the lady on the news that was scammed for millions. Her concern was not that she had been scammed. Her concerned was that she was paying income taxes on money that didn’t exist. She was gravely looking for IRS to bestow a tax reduction… better yet, interest tax deductions for all of the years of over paying.
We implemented every self employed tax deductions suggested by our accountant. We were appalled to learn how considerably more tax deductions we could claim as self employed home business owner.
It was no secret we’ve visited our share of CPA ,CFP and every other kind of C’s and never seem to stumble on the one that really resonated with us or could noticeably reduce our business taxes.
Now you get the opportunity to benefit from the same self employed tax deductions tips that it took us over 20 years to learn… you get to devour in the time it takes to read this article.
Fortunately, you get to learn from your experiences and from ours.
Here are 9 Bullet-Proof Self Employed Tax Deductions:
If you own your own business (even a home business) or if you’re an Independent Contractor, you could save hundreds… even thousands of dollars each year.
Here is an outline of what you will learn:
1. Learn how to potentially deduct most of your fun such as movies, plays, and season tickets
2. Learn how to potentially deduct your golf, golf balls, golf clubs and lessons
3. Learn how to potentially deduct all parties in your home
4. Learn how to potentially bullet-proof all your entertainment from any IRS or state audit!
5. Learn how to potentially deduct any vacation anywhere in the world by combining the trip with business.
6. Learn the secret as to why IRS doesn’t require receipts for under $75 per item!
7. Find out how to potentially deduct all dry cleaning and laundry and even the cost of clothing itself!
8. Learn how to potentially bullet proof all travel from even the toughest IRS scrutiny
9. Learn a small known secret (that is used by the super rich) to potentially deduct the equivalent of your children’s weddings and education including law school and medical school- No kidding!!
Sanford C. Botkin, CPA and Former top IRS Tax Attorney lives in Germantown, MD, a suburb of Washington D. C., just a small distance from the IRS headquarters.
Over the past 15 years, Sandy has helped over 50,000 taxpayers including home business owners save millions in taxes through legal tax reduction.
To find out what fox news has to say about Sandy Botkin check our website.
* Here’s my disclaimer….I’m not a CPA or Tax Attorney this is for educational purposes only
O.K…. I’m back
According to Sanford Botkin, CPA and Former top IRS Tax Attorney.
Owning a home business is one of the most profitable tax deductions a person could have.
As small business/home business owners we have more tax breaks available to us then the average business takes.
Any legitimate home base business owner that’s actively pursuing a profit, even part-time can qualify for substantial tax breaks.(read Sandy’s facts)
According to the American Taxpayer Union in 1958, the average American paid 18 percent of their yucky income in taxes, Federal, State, and Social Security.
Today, the average American spends 41 percent of their yucky income in taxes.
Taxes are the largest expense for most people. It exceeds food, clothing, lodging, and transportation combined. The Average American works 5 months supporting the government and 7 months supporting their families. Learn tax deductions methods to help you reduce your support to 2 or 3 months supporting the government and 9-to 10 months supporting your family.
Here’s one of the largest mistakes home business owners make, which is having the mindset that their tax accountant will take care of them. No doubt about it, most accountants are working as hard as they can trying to keep abreast of the never-ending changing tax laws while maintaining and growing a client base.
That’s why we have to study and do our homework to realize the maximum tax reduction possible for your business. Thinking your accountant will take care of your taxes is like thinking your doctor will take care of your health regardless to what you eat.
We hope this information helps you the way it did with us.
*Strategy is better than Strength
proverb
