Being educated about the U.S. tax system can save you thousands of dollars each year. Learn how to take advantage of the tax savings you are due.
How would you like to save thousands in tax savings? How would you like to dramatically slash your tax bill from 50% tax to less than 10% tax?
It doesn’t matter how much you make whether it’s a million dollars a year or a million dollars a month. The question is how much money do you keep? That is the real achievement.
You can utilize certain tax strategies that will save you thousands of dollars. Note some tax strategies have to be accomplished before the end of the year on December 31st.
Everyone can reduce their taxes legally from sole proprietors to LLC’s if they are knowledgeable. Remember, Accountants help you create a legal tax return, but their job is not to minimize the amount of tax you pay. It is your responsibility to figure out how to reduce your taxes.
There are two tax systems in the United States. One tax system is for the educated and one for the uneducated. The “educated” system does not refer to those that have obtained college degrees, but to those that are educated about the tax system. Plus, these individuals run their own business as part or all of their income.
If you are uneducated about the U.S. tax system then the government takes 50% of tax out of your income. If you are educated about the U.S. tax system then you take a different approach. You know that you should spend the money you earn so you pay tax on much less money.
What do you mean by “spending” that money? Spending money doesn’t mean running out to by a boat that you don’t need for the sole reason of reducing your tax liability. Spending money refers to business expenses and business deductions. Many of your everyday ordinary expenses can be converted legally into business expenses. Only buy things that you want. Buy them in a tax advantaged way.
If you are educated regarding the tax system then you can take current expenses and convert them into business expenses. Most business owners only take about 10% of the business deductions that are available.
Take heed of Bill Gates’ advice: “The single most important key to his success was to have a working knowledge of the tax code.”
Also remember that it is the constitutional right of every American to arrange their affairs to minimize the tax they pay.
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