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Save Money on Taxes - Is the Only Way to Get Your Tax Savings is to Sleep With an IRS Agent?


Tilting the Tax Laws in Your Favor.

In order to accelerate your movement along the wealth building curve, you absolutely MUST have your own business. I don't care if its real estate investing, a sales company or a service business. But you must own it yourself or with a partner. Why, because the tax laws are tilted in favor of people who are in business for themselves. Let's take a closer look. If you are not in business for yourself, you are earning your money as a W-2 employee.

Unfortunately, this is the highest tax form of income that there is. In fact, the average American gives up between 42% and 55% of his or her income in the form of taxes. Sound high?

Well, consider this:
Currently we have a Federal tax rate of approximately 39%. States can charge as much as 9.6% and some of us even have to pay a City income tax as high as 3%. Then, there is the Invisible Killer tax known as FICA or Social Security. Why do I say that it's the Invisible Killer? Please let me explain. Tax Secrets of the Rich Found Here

Social Security tax is broken down into two components.
The first component of 7.65% is paid directly by the employee. It's taken directly from your paycheck before you even touch it. In addition to that, your employer must "match" your contribution by paying another 7.65%. And this all happens BEFORE you see a nickel of your paycheck. Its like the government is playing a game of now you see it, now you don't with your money. And isn't it true that if your employer has to pay that money to Uncle Sam, its less money that he can pay it to you? THAT'S OVER 15% OF YOUR HARD EARNED MONEY THAT YOU ARE LOSING RIGHT OFF THE TOP!!!!! Asset Protection

Can you see how hard it is to get ahead when you are paying out roughly half of your earnings in taxes? Decades ago, a Supreme Court Justice named Learned Hand made the following observation:

To paraphrase, he said "there are two income tax systems in this Country; one for the educated and one for the uneducated" Here's your chance to get a powerful education. The following two diagrams hold the secret to tilting the tax laws in your favor.

The first one illustrates the tax system for the Uneducated:

Earn
Pay taxes
Spend

Both systems start, of course, with earning income. However, in the UN educated tax system, your taxes are immediately deducted from your paycheck - BEFORE you ever see it. Then, you have to live on what's left over.

Lets apply some numbers to this: $100,000 Income $ 50,000 Taxes $ 50,000 What you have left to Live on. Now, contrast this with the EDUCATED system.

Earn
Spend
Taxes

Tax Strategies

Again, we start with earning income. But look closely at the next line. In the EDUCATED system, you get to spend your money BEFORE you pay taxes. Can you see how this could have a HUGE impact on your financial well-being? This is the first step.

This is one of the strategies that people like Ross Perot, Donald Trump and Bill Gates use to reduce their taxes from the 50% that the average American pays all the way down to 4%-5%! That's right: 4% - 5%.

Now you know the first step, you MUST have your own business. So, get ready for lesson 2 where I'll provide you with the list of 300 deductions that are available to our business.

Sincerely,
Drew Miles, The Tax Saving Attorney

Drew has combined what he learned during formal education, informal education and twenty five years of business experience in the development of programs designed to teach people how to build and preserve lasting wealth. He is an author, teacher and international speaker in the areas of asset protection, and tax saving and wealth building strategies.


MORE RESOURCES:

Taxes - Google News

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The case for a junk food tax - Vox


Vox

The case for a junk food tax
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Some kind of government intervention in the food environment probably has to be part of the solution. Taxes have been an effective, though still controversial, approach to curbing the consumption of tobacco, alcohol, and soda. Now researchers from New ...

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4 things to know about the new US tax law - Yahoo Finance


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4 things to know about the new US tax law
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Under the old tax code, the average family of four (that submitted taxes married-filing-jointly) received a tax break of $16,200 through the personal exemption, one $4,050 exemption for every member of the family. That's gone now, but in its place the ...
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9 Ways the New Tax Law Affects Millennials - Investopedia (blog)


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The new tax law, the Tax Cuts and Jobs Act, has generated significant buzz as tax experts speculate on how the average American's tax bill will be affected. Some of the most important changes center on key deductions and credits that could have a ...
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Phone, hotel taxes likely to rise in Naperville - Chicago Daily Herald


Phone, hotel taxes likely to rise in Naperville
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"From my perspective, especially with the new federal tax law that caps state and local taxes at a $10,000 deduction, it makes a lot of sense to look for alternative revenue streams other than property taxes," Mayor Steve Chirico said. "I think these ...

Did Cook County's failed soda tax cause sales taxes to fizzle, too? - Chicago Daily Herald


Chicago Daily Herald

Did Cook County's failed soda tax cause sales taxes to fizzle, too?
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The decline in tax revenue from August to September is the equivalent of nearly 2 million fewer 2-liter bottles of soda being sold. Receipts from November -- the fourth and final month the sweetened beverage tax was in effect -- aren't expected until ...

The Government's Taxes on Citizens' Free Time - New Republic


New Republic

The Government's Taxes on Citizens' Free Time
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When will workers see the fruits of the recently passed Republican tax bill? In just a few weeks, according to the Internal Revenue Service. Last Thursday, the agency released updated tax withholding tables for employers, so that the amount taken out ...
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State of Taxes: Rockland County braces for 2018 tax debate: Tax Watch - The Journal News | LoHud.com


The Journal News | LoHud.com

State of Taxes: Rockland County braces for 2018 tax debate: Tax Watch
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Tax Watch columnist David McKay Wilson looks into the tax debate brewing on many levels in Rockland County in 2018. A decade after borrowing $191 million to pay property tax refunds to a power plant owner, the North Rockland schools still have 20 more ...

Analysis: There's a reason Texas governors keep failing to lower property taxes - Texas Tribune


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Analysis: There's a reason Texas governors keep failing to lower property taxes
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It's in the Texas Constitution: The state can't levy a property tax. The governor and the Legislature can't lower rates. The state doesn't do property appraisals, either, so they can't mess with the value of any particular property on the tax rolls ...
Abbott wants to limit local jurisdictions' ability to raise Texans' taxes Dallas News
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Financial Sinkhole States In The Trump Tax Era - Forbes


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Financial Sinkhole States In The Trump Tax Era
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What damage will the loss of a deduction do to blue states with stiff taxes? Do you live in a sinkhole state? There are eight of them, led by California and New York. These are places where the population dependent on the state — for employment ...

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