Everyday Can Be A Tax Deduction Day
Today I took advantage of getting a lot of things done that I needed to do such as getting my licence plates renewed, car repairs, car inspection, etc. It's the same things that everyone does. But everything that I did was TAX DEDUCTABLE.
It started this morning. I woke up to the sound of the lawn mower. I hire someone to mow my lawn and this was the scheduled day for it. Then I went to get my license plates renewed. The engine light was on in my car and I went to the repair shop to get it worked on. After that was fixed, I was able to get my car inspected to renew the city sticker. Before they would renew it I had to show proof that I have car insurance. On my way home I stopped to fill up my tank with gasoline.
EVERYTHING that I did was tax deductable. It may not be tax deductable for everyone, but it is if you have a home based business. Having a home based business is a win/win situation for everyone. I'm with the Amazon Herb Co. and I get to buy all my products -the health products, skin care products, teas, chocolates and cleaning products at the wholesale price. I get to share these products with other people. My product are helping support a healthy and sustainable future for the Amazon Rainforest.
"A simple home-based business offers more tax breaks than the super-wealthy can get with their expensive tax lawyers," says #1 New York Times Best Selling aurhor Robert G. Allen.
My tax deduction Bible where I get all of my information as to the tax deductions that I get is from Ron Mueller's book, "It's How Much You Keep That Counts! Not How Much You Make."
Ron Mueller says, "It's a fact - an understanding of home-based tax law is not taught in most accounting schools, and isn't even tested on the CPA exam! Even CPA Continuing Education in most stated don't contain sections or offer courses on home-based business tax law."
Congress has passed a series of tax laws for the intended purpose of encouraging and rewarding the operation of small or home-based businessed because it's good for the national economy.
Ron Mueller talks about the United States having TWO tax systems, one tax system for employees, which includes most working Americans, and a very different - and much better - tax system for business owners.
Employees are very limited in what they can write-off. Businesses engaged in working toward or earning profits are entitled to a wide variety of legally deductible business expenses in their pursuit of that income and profit.
Ron Mueller's book contains a wealth of information. You'll see details of all of the tax deductions possible.
The first type of taxpayer is the EMPLOYEE
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
Essentially, for employees, it's a three-step process:
Step 1: Work hard to earn a decent wage. Step 2: Immediately lose a hugh chunk of those hard-earned wages to taxes. Step 3: Then you get to live on whatever is left after taxes are withheld.
The second type of taxpayer is the BUSINESS OWNER
Business Owners, on the other hand, get to write-off lots and lots of expenses, from rent to phone bills to furniture to cleaning crews.
Business Owners have a very different three-step process:
Step 1: Earn revenue from selling goods or services Step 2: Spend whatever they need to on operating expenses to keep the business financially solid Step 3: Then pay taxes only on what ever is left over.
Mueller compiled a long list of deductions commonly available to Business Owners:
- Mortgage interest or rent
- Gas, electric, water and sewer
- Cleaning crews to dust, vacuum and empty the trash
- Computers, copiers, fax machines and telephones
- Advertising
- Paper, pens and even postage
- Bank fees on business accounts
- Desks, sofas, coffee tables and other furniture
- Credit card annual fees (for business-only cards)
- Depreciation
- Painting, wallpaper, carpeting and other repairs/remodeling
- Legal and professional services
- Bad debts from sales or services (accrual method)
- Phone bills, cell-phones, pagers and Personal Digital Assistants
- Cost of goods sold
- Magazines and books for business education
- Mewspapers, magazines, books and on-line media
- Services performed by Independent Contractors
- Supplies and materials
- Plane fares, hotel costs, meals and rental cars
- Taxes and licenses
- Special work clothing or uniforms
- Lunches, dinners, ball games and theater tickets
- Security alarms and hidden cameras
- Health, llife, dental, vision, disability and unemployment insurance
- Company cars (and even boats)
- Contributions to Employee Retirement Plans
- Holiday cards, gifts and postage
- And just about any other expense that qualifies as "ordinary and necessary" to operate their business
A wealth of valuable information to save you a lot of money is in this book.
Subscribe to Ron Mueller's FREE Bulletin, "Tax Tips You Can Bank On" ($129 value per year)
How Do I order "It's How Much You Keep That Counts! Not how much you Make" and subscribe to the FREE bulletin?
www.kickstartcart.com/app/aftrack.asp?afid=292781
How do I get information about the business opportunity with the Amazon Herb Co? It only costs $35 to join this company and you get a FREE website!
www.MagicOfTheRainforest.amazonherb.net
100% Money Back Guarantee
"It's How Much You Keep That Counts! Not how much you make" will show you how to fully qualify for new, additional tax deductions worth at least 100 times the amount you paid for it, or we will buy it back from you, in any condition."
Feel free to contact me at bleynor@gmail.com if you have any questions or to get more information.
Barbara Leynor
Certified Wellness Coach
