How To Turn Ordinary Personal Expenses Into Legitimate Business Expenses – And Make An Extra $500!
Overtaxed and Underpaid?
How to legally turn ordinary personal expenses into legitimate
Business expenses and put an extra $500 – $600 a month in
your pocket!
Most people think they are paying too much in taxes, yet, very
few people do anything about it.
Then why do most people freeze in their tracks when offered
information on how to reduce their taxes? The three main reasons
are:
(1) Fear of the IRS,
(2) Fear of the time it will take to keep detailed records, and
(3) Not having a full understanding of what is legal.
I felt the exact same way until some introduced me to the following:
First, there’s no need to fear IRS. When you obey the law, there
is no reason to fear law enforcement.
Second, recordkeeping – It’s Not as Bad as You Think!
Spending a minute or so a day keeping records, could
qualify you for substantial tax deductions every year.
Up to $5,000 or more in tax reductions for many people.
Lastly, since the laws themselves allow so many 100%
legal deductions, who needs to take on the risky ones?
Not you, and definitely not me!
Well then…what are these legal deductions and how do
you claim them? That’s a very good question. You must
first understand what the tax system is and how it works.
The United States Has TWO Tax Systems. One for
Employees and a much better one for Businesses.
Employees, or W-2 wage earners, work for someone else.
Most taxpayers fall into this category. They have very few
tax deductions available to them, usually just:
• Mortgage interest & Real Estate taxes,
• Standard deductions for dependents,
• Gifts to church or charity and
• Contributions to a retirement plan.
Usually employees work hard to earn a decent wage.
Immediately lose a huge chunk of those hard earned wages
to taxes. Then they get to live on whatever is left after taxes
are withheld. Not bad.
Now on the other hand…Business Owners, get to write-off
lots and lots of expenses, from rent to phone bills to furniture
to cleaning crews.
Business Owners earn revenue from selling goods or services,
spend whatever they need to on operating expenses to keep
the business financially solid, then pay taxes only on whatever
is left over. Better.
There’s literally thousands of deductions available to Business
Owners. Way to numerous to list here. For full list of deductions
and how you can get your fair share visit itsyoursuccess.com/” target=”_blank itsyoursuccess.com .
Maynard Greene is a Freelance writer and Internet marketer.
Maynard can be reached at 281-416-0204 or mailto:mgreene@itsyoursuccess.com mgreene@itsyoursuccess.com.