“Slash your Tax Bill through Business Expenses”

Why don't people treat their Internet business as a legitimate business? Internet businesses don't fall into the common perception of business. We were taught that you had to work hard for your money and commute to an office. Many people don't comprehend that working from home in their pajamas is a legitimate business. You have to perceive your Internet business as a business.

An example of perceiving your Internet business as a business is to keep track of your receipts. Think about it this way. If you bought pens, papers, and office supplies for a corporate employer you would send your employer the receipts for reimbursement. The same applies to your Internet business, except you consider these business expenses and apply them to your tax liability. You have to make sure to keep organized, accurate records of all your receipts.

Not sure what you can consider as a business expense in your Internet business? There are a host of business expenses you can take. You can deduct office supplies, software, and books for example. You can take business deductions for items that are necessary for your Internet business. Double check with a tax professional and consult the IRS tax forms from http://www.irs.gov.

Did you know that the single biggest expense you will encounter is your tax bill? This is true for most people because they don't take advantage of legal tax minimization techniques.

Basically, there are two different tax systems in America. There is a tax system for the educated and there is a tax system for the uneducated. Educated and uneducated refers to how much the person knows about tax planning.

Those that are educated about tax planning take all the legal tax deductions they possibly can and slash their taxes significantly. Those that don't take these legal tax deductions often pay far more in taxes than is necessary. They are losing money because they don't understand how to take advantage of the tax laws that the government has provided for them.

Did you know that a tax accountant is different from an accountant? You need to go to a tax accountant because they specialize in taxes. Don't just go to an account because they may give you information that doesn't work to your advantage. The same thing applies to an attorney versus a tax attorney. It is important to note also that you might receive different opinions and strategies from tax accountants and tax attorneys.

Warmest regards,

Matt Bacak

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“Tax Codes that Save you Tons of Money!”

Here’s the situation. You have recognized that having a working knowledge of the tax codes can save you thousands of dollars in taxes. However, now you want specifics. What do you need to take advantage of these tax codes? What are examples of tax codes that you utilize right now? Read on to find out.

There are two powerful strategies you can take advantage of immediately:

1.) Documentation: Keep a tax diary that makes your records audit proof. Keep accurate and detailed records to realize the full potential of tax savings.

2.) Find deductions that you have missed because you were unaware they existed or did not take them properly.

Examples of Specific Tax Codes that can help you slash your taxes:
Code Section 280 – You can deduct your home office.
Code Section 274 – Office equipment, supplies, supper money.
Code Section 132 – Corporate gym. Your corporation can deduct the entire cost of gym equipment that you buy. There is no limit.
Code Section 162 – Seminars. Write off the entire cost of a seminar. You can write off air fare, meals, etc.
Code Section 74 – Achievement awards. Your company can give away up to two achievement awards each year worth $1600 a piece. Give yourself an achievement award!
Code Section 119 – Meals and lodging. All the meals and lodging for seminars, etc. can be written off 100%.

Tip: Put your kids on the payroll. You can pay each kid up to $6,500 each year. This decreases your taxable income.

Tip: You can deduct up to $5,250 for dependent care. (I.e. kids and elderly adults)

Code Section 132E – Let’s you set up your own fringe benefit program.

Tip: You can also take an equipment deduction. For example, if you buy a piece of equipment that weighs 6,200 pounds or more then you can deduct up to $25,000 in the year you bought it.

Tip: Remember the tax codes change all the time. So you need to be aware of the changes.

Tip: There are legal ways to shift income from a high tax state to a low or no tax state.

Tip: You can build your retirement plan tax free with business and investments that you have control over.

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

http://www.promotingtips.com

P.P.S. Do you want to be updated on the new things I'm doing
to market my companies? Then you need to grab a copy of my
`Internet Marketing Dirt'. It's now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com