Tax Secrets - How Drew Miles Helped Me

How about a Tax Tip?

As we all know Taxes are a necessary evil. While none of us like paying taxes there are many strategists out there that can make your life a lot easier when that dreaded day arrives.

Recently I received a "Tax Tip" that saved me a ton of money and allowed me to reinvest some of that money back into my business.

I met a man names Drew Miles. Drew is a tax and asset protection expert and to me he is a modern day "hero". This simple strategy he gave me will probably save me 175,000 dollars over the next 2-3 years and who knows how much after that.

Without going into to much detail about the tip due to time constraints just know there are over 100 deductions that most business owners don't realize and this can bring down your net income greatly while allowing you to spend pre-tax dollars on those ventures.

There are many great people in this field. People like Sandy Botkin and Diane Kennedy are all great as well as a host of many others. YOu can do a Google search for Tax Strategists and find many others.

If taxes are going to burden us lets at least use some of these secret tips that the government doesn't tell us about to our advantage. I call these tax tips.

Don't fear tax strategists and asset protection strategists they are there to help you and to teach you how to save money in this ever changing world.

Charles Light - Author, Speaker Entreprenuer.

In The News:

Focus on direct tax reforms as panel set to submit report  Moneycontrol.comThe next thing that the people of India, who gave Narendra Modi his second full majority term, would be looking towards is reduced tax rates in the full budget.
Carbon taxes are hot stuff -- here's how they would work  CBS NewsAs the U.S. debates a "green" transformation for the economy, the idea of paying for pollution is getting a serious look.
Does a Soda Tax Really Lead to Healthier Behavior?  [email protected]New Wharton research analyzes the results of a tax on sugary beverages to determine the optimal rate.
CBDT wants shell cos ‘revived’ to collect pending taxes  BusinessLineIncome-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the Ministry of Corporate Affairs (MCA).
Havenly as ever Switzerland will remain a low-tax centre for big firms  The EconomistSWITZERLAND IS KNOWN for its delicious chocolate, its luxury watches—and its lightly taxed multinationals. Some 24000 international companies are ...
Why a Tax the U.S. Hasn’t Embraced Has Found Favor in Much of the World  The New York TimesValue-added taxes are popular in many countries, especially those that are less affluent. The great advantage is a built-in feature that deters tax evasion, ...
How New York Cleared a Path for Congress to Get Trump’s Tax Returns  The New York Times[Want to get New York Today by email? Here's the sign-up.] It's Thursday. Weather: Brace for a day of showers and later thunderstorms, which could kick up wind ...
Are Property Taxes Actually Low in California?  Mansion GlobalEvery week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week's question. Q. Is California really a low-property-tax state?
New direct tax code draft by July-end  LivemintFinance minister Arun Jaitley extends deadline till 31 July for a task force to come up with a new draft direct tax code.The proposed new direct tax code will ...
Trump tax returns legal battle: IRS lawyers agree with Democrats  Vox.comAccording to Josh Dawsey and Jeff Stein of the Washington Post, an internal IRS legal memo agrees with most outside observers that the Treasury Department ...
Corporate America paying its lowest share of taxes since Eisenhower  CBS NewsFederal income tax revenue from U.S. corporations hasn't been this low since 1960, IRS data show.
Angel Tax: Elections 2019: Industry roots for Angel Tax abolition, AI-enabled solutions  Economic TimesThe startup industry is hopeful that the new government will create a thriving ecosystem to make them flourish. Buoyed by earlier positive initiatives such as the ...
Death, taxes and flying a gigantic American flag: Camping World CEO is certain he’s right in fight with city hall  MarketWatchMarcus Lemonis, chairman and CEO of Camping World, says despite lawsuit, he won't take down the 3200-square-foot American flag that violates an ordinance ...
Soda stream How to tax sugary drinks  The EconomistSUGAR TAXES are on a high. Around 40 countries and seven American cities have started to tax sugary drinks, mostly in the past few years. Supporters say ...
View: Modi has failed to end India's tax terror  Economic TimesOverseas investors would like PM Modi to fulfill his 2014 pledge to make the tax system less capricious.
TurboTax Uses A “Military Discount” to Trick Troops Into Paying to File Their Taxes  ProPublicaIntuit, the maker of TurboTax, created and promoted a “military discount” that charges *service* members who are eligible to file for free.
Which states have the highest and lowest property taxes?  USA TODAYHow much you pay in property taxes often comes down to which side of a county, city or district line you're on. And if you're a homebuyer this spring, it's another ...
Albany Closes a Loophole for Trump Pardons. Next Up: His Taxes.  The New York TimesThe Legislature is poised to pass a bill that would allow three congressional committees to seek the release of President Trump's state tax returns.
Trump+Taxes+Deutsche Bank+Mnuchin+Barr = Cover-Up  BloombergFor a White House that's as dedicated to “transparency” as this one, there sure are a lot of things being kept under wraps.
Congress fails to reach pre-Memorial Day tax fix for Gold Star families  CNN(CNN) It's a tale as old as Washington: Senate passes bill. House passes different version of bill, wrapped into a larger, unrelated bill. One frustrated senator ...
Here's what we know about the Legislature's final property tax reform bill  The Texas TribuneThe final version of the bill is expected to require cities, counties and emergency *service* districts to hold an election before raising 3.5% more property tax ...
IRS could be forced to release Trump’s taxes in the heat of 2020  POLITICOThe administration is betting that it can drag out the coming case beyond next year's elections. That could prove a bad strategy.
India notifies pact with US to check tax evasion by MNCs  Economic TimesThis information will enable an enhanced level of assessment of tax risk .
Low-Income College Students Are Being Taxed Like Trust-Fund Babies  The New York TimesWASHINGTON — A little-noticed provision in President Trump's sprawling new tax law is treating middle- and low-income college students as if they are ...
Tax overhaul means some Gold Star families paying much higher taxes on survivor benefits  CNNWashington (CNN) President Donald Trump's tax overhaul is forcing some military families to pay thousands of dollars more in taxes on their survivor benefits, ...
Brewers, business groups hopped up about proposed beer tax  WGN TV ChicagoCHICAGO -- A plan to raise the tax on beer and hard cider in Illinois has some people angry. Brewers, distributors and retailers are sounding the alarm on a ...
Verizon stopped paying local N.J. taxes. Now, a powerful legislator wants to sock it to the company.  Philly.comProposed legislation would force Verizon to pay local taxes on telephone poles, lines, land, and other equipment that the telecom giant has refused to fork over ...
CBDT rejects report on decline in income tax e-filing, says 18% spike instead  Business TodayThe Central Board of Direct Taxes (CBDT) has refuted media reports about the reduction in numbers of Income Tax Returns (ITR) e-filers, saying that figures for ...
First 100 days of Modi 2.0 could see tax cut, GST rejig, bank reform  Economic TimesNEW DELHI: With the major event risk of election out of the way, analysts on Dalal Street have started speculating on what measures the government may unveil ...
Connecticut sales taxes bounce back near close of fiscal year  Danbury News TimesIn April for the first time since the holiday shopping season, Connecticut registered an increase in sales tax collections. All with a potential 12-month gain still ...
Those Who Didn't Pay Taxes In Their Day Will Now Have To Pay For Medicare  ForbesBack in the early days of my career, a friend, in his early 30s, had a government job. Tom heckled me a bit because he was not paying Social Security taxes and, ...
Cheat on your taxes? Fewer Americans think you're wrong  Fox BusinessMost Americans do agree, however, that it is their civic duty to pay taxes.
How Loopholes Help Trump and Other Real Estate Moguls Avoid Taxes  The New York TimesDonald Trump reported more than $1 billion in real estate losses on his tax returns from 1985 to 1994, The New York Times revealed this week. Those losses ...
Could Trump's taxes be released at the height of the 2020 election?  The Week MagazineOfficial site of The Week Magazine, offering commentary and analysis of the day's breaking news and current events as well as arts, entertainment, people and ...
Trump Accidentally Raised Taxes on the Children of Dead Veterans  New York MagazineAn ill-considered provision in Donald Trump's signature law hiked taxes on the survivor's benefits of Gold Star families, and low-income students' college ...
Profitable Giants Like Amazon Pay $0 in Corporate Taxes. Some Voters Are Sick of It.  The Indian ExpressIn Ohio, where companies like FirstEnergy and Goodyear pay no federal corporate taxes, Democrats haven't figured out how to leverage anxiety over income ...
Are any of the Coalition's claims of new Labor taxes actually true?  The GuardianGuardian Australia asks two experts if eight ALP election policies can really be considered a 'new tax'
Viewpoint | The quick and simple tax filing guide for NRIs - FY19  MoneycontrolLovaii Navlakhi. Tax filing season is here and everyone is getting ready with their documents and financial details for the same. However, there is one question ...
New tax on beer, wine, spirits on the table in Illinois  WLS-TVA brand new tax on beer, wine and liquor in Illinois is on the table as part of the Governor JB Pritzker's budget plan.
States With a Marriage Penalty in Their Tax Brackets  Kiplinger's Personal FinanceA marriage penalty exists when a couple filing a joint return pays more income tax than they would if they were single. Plan ahead if you currently live in or plan ...
Reduce tax on ATF or include it under GST: Ajay Singh, SpiceJet  Economic TimesIf we can address some of the structural issues bugging aviation sector, there are many years of good growth ahead of us, said Ajay Singh, Co-Founder, ...
No income-tax hike on rich in tentative budget framework  The CT MirrorGov. Ned Lamont's administration and legislative leaders closed in Friday on a budget deal that would create a new “mansion tax,” but exclude the income-tax ...
Soda Taxes Are a 'No-Brainer' for Public Health, Says the Author of a New Study on Them  TIMEA new JAMA study suggests taxing sugary drinks really can make people buy fewer of them, potentially translating to better public health. Taxes on soda and ...
Analysis: Texas lawmakers struggling to find a lovable tax  The Texas TribuneEven in a legislative session that began with estimates of a generous increase in state revenue, lawmakers spent a lot of time talking about big, big tax bills — all ...
Don't Let Tax Concerns Keep You From Taking Care of Loved Ones  Kiplinger's Personal FinanceTraditional IRAs can be a tax bomb for your beneficiaries, but there are some creative ways to unwind this potential problem.
Saudi Arabia Widens Excise Tax to Sweetened Drinks, E-Cigarettes  BloombergSaudi Arabia will expand an excise tax charged on tobacco and soda to include electronic cigarettes and all drinks with added sugar as part of its efforts to boost ...
Income tax e-filers drop by over 6.6 lakh in FY19: Official data  Economic TimesIncome tax e-filings have dropped in FY2019 contrary to believes that the tax base will increase post DeMo.
The secret of why Donald Trump won't release his taxes  CNNOn Monday night, as expected, Treasury Secretary Steve Mnuchin informed House Ways and Means Committee Chairman Richard Neal, D-Massachusetts, that ...
What the Swiss Vote on Taxes Means for Multinationals  BloombergSwitzerland is trying to hold on to its appeal as an attractive place for companies. In a May 19 referendum, voters will decide whether to accept or reject a new ...
Budget corporate tax cuts depend on LS outcome: Sources  Economic TimesThe government had assured industry of fulfilling its earlier promise of lowering the corporate tax rate in the full budget in July if it is voted back to power.
5 Takeaways From 10 Years of Trump Tax Figures  The New York TimesThe Times obtained details from a decade of the president's tax returns, revealing $1.17 billion in business losses. Here's what else the numbers show.
Special Public Prosecutors Vacancy (Income Tax, Chennai)  Live LawIncome Tax Office, Chennai invites applications from advocates of substantial standing and repute and with good academic credentials for the empanelment of ...
California's governor pushes new taxes, fees despite whopping $21.5 billion surplus  CNBCLOS ANGELES — Gov. Gavin Newsom is pushing new taxes and fees even as California enjoys a huge surplus, but lawmakers, including his fellow Democrats, ...
State Sen. Harckham tacks right on taxes with votes against Westchester and upstate taxes  The Journal News | LoHud.comTax Watch columnist David McKay Wilson explores state Sen. Peter Harckham's position on taxes. State Sen. Peter Harckham, D-Lewisboro, seemed to have ...
In Wake Of Federal Tax Reform, Blue States Scramble To Hide High Taxes  The FederalistDemocrats insist richer people need to pay more taxes. When that becomes slightly more true because of a Republican initiative, they hide income.
Four commonly-held misconceptions about ELSS or tax saving mutual funds  Economic TimesEquity Linked Saving Scheme or ELSS may be the stepping stone to the stock market for many individual investors. However, many of them nurse a lot of ...
Rethinking Wealth, From Birthright Capital to Big Spender Taxes  BloombergBloomberg Businessweek's special Money Issue is a survey of how global wealth is distributed, spent, fought over, and invested. But the borderlines of wealth ...
Tax optimiser: Salaried Shanker can save more tax if employer contributes to his NPS  Economic TimesNot only should you ask your employer for the NPS benefit, but you should also invest in the scheme on your own. You can reduce your tax outgo significantly.
What is tax liability if I surrender my insurance policy before maturity?  Economic TimesIf you surrender the policy and opt out of the annuity scheme, the entire sum received by you from the insurance company will be treated as income.
Arvind Panagariya on corporate tax, lower tariffs & fewer ministries  Economic TimesFormer Vice Chairman, NITI Aayog discusses the possible agenda for first 100 days of NDA-2.
Tuesday Could Be the Beginning of the End of Philadelphia’s Soda Tax  The New York TimesA slew of opponents of the tax are running in the city's election Tuesday and beverage industry has spent more than $600000 on ads aiming to turn public ...
India on road to ‘car registration portability’  BusinessLineOwners of cars or other vehicles relocating from one State to another will be spared the tedium of re-registering their vehicles and changing the vehicle number ...
How Vanguard Patented a Way to Avoid Taxes on Mutual Funds  BloombergControversial heartbeat trades help the funds avoid taxable gains.
The law is clear: Congress should get Trump's tax returns  CNNMichael Zeldin, a CNN legal analyst, has served as a federal prosecutor in the Criminal Division of the US Department of Justice and was a special counsel to ...
Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains  CointelegraphThe ruling is a setback for crypto entrepreneur Noam Copel, who will now have to pay tax on $830000 in profits he made by selling bitcoin.
Employers will now have to download full Form16 from TRACES portal only  Economic TimesEarlier, employers were mandatorily required to download only Part-A of Form-16 from the TRACES portal and Part -B was issued using third-party software.
Progressive Dems up pressure on Lamont to tax the rich  The CT MirrorMore than half of House of Representatives' Democratic majority sent Gov. Ned Lamont a clear message Thursday: they want a tax hike on the rich in the next ...
N.J.’s Revenue Surprise Deepens Divide Over Millionaire’s Tax  BloombergNew Jersey's budget discord deepened as a key blocker of Governor Phil Murphy's proposed millionaire's tax also disagreed with his fellow Democrat's plans for ...
Mnuchin refuses to turn over Trump taxes to House Democrats  CNNTreasury Secretary Steven Mnuchin on Monday denied a request from House Democrats for access to six years of President Donald Trump's personal tax ...
Heres how the new Form 16 will change income tax return filing this year  Business StandardForm 16 is issued annually, by an employer to an employee as a proof of salary paid and taxes deducted on it. It has two parts i.e., Part A and Part B as ...
Samsung's Founding Family Faces a $7 Billion Estate Tax  BloombergThe lives of the rich and famous are news fodder everywhere. But in South Korea it's an expected death that has the country enthralled. The country's wealthiest ...
Anti-tax activist Chip Faulkner dead at 73  MassLive.comFrancis “Chip” Faulkner, a long-time advocate against raising taxes, died Friday of pancreatic cancer, according to Citizens for Limited Taxation. He was 73.
Netflix tax: Chicago successfully taxes streaming services  CBS NewsFour years ago, Chicago imposed a 9% tax on streaming entertainment services, leading to a flurry of lawsuits. Now, the city has collected $2 million in sales tax ...
Income tax implications of PF withdrawal  LivemintThere should not be any gap in contribution to PF to avail of the continuous *service* clause.In the event of PF withdrawal before five years of continuous *service*, ...
Trump’s Tariffs Are a New Tax on Americans  The New York TimesPresident Trump's new tariffs on Chinese imports, which took effect at 12:01 a.m. on Friday, are taxes that will be paid by Americans. That is a simple fact, and it ...
Hotels, realtors move Delhi HC over Input Tax Credit issue  Economic TimesA writ petition was filed in the Delhi High Court on Monday, challenging a change in the GST framework this year, whereby input tax credits were denied.
Election results 2019: Many hope NDA-II to roll back LTCG tax on equity  LivemintWith clear trend suggesting the NDA-II forming the government, many hope that the government will review the unpopular long term capital gains tax on equity ...
Health tax splits California amid need for Trump's approval  Fox BusinessCalifornia lawmakers are headed toward a confrontation with Gov. Gavin Newsom over whether to keep a tax that can generate nearly $2 billion for low-income ...
Expect government to bring down corporate tax: Adi Godrej  Economic TimesThe government had promised that corporate tax would be brought down to 25%. They have done it for smaller companies but they have not done it for larger ...
Looking to save tax? Here are 7 ways to take charge of your investments  The News MinuteWe are in a new financial year and it's the time to file taxes. Along with it, it is now the perfect time to plan your finances and tax-saving options. So, if you are ...
Directorate General of GST Intelligence issues notices to auto ancillaries over tax evasion  ETAuto.comMumbai:The Directorate General of GST Intelligence (DGGSTI), intelligence arm of the indirect tax department, has issued notices to multiple ancillary ...
Why the Rich Don’t Get Audited  The New York TimesThe I.R.S. doesn't have the resources it needs to chase offshore accounts and tax cheats.
The IRS stats are in: Here's how tax refunds look compared to last year  CNBCThe Internal Revenue *Service* (IRS) headquarters in Washington, D.C.. Janhvi Bhojwani | CNBC. The final stats are in from the IRS — and it looks like the ...
Senate Passes Bill to Cap Property Taxes For Military Veterans  KPBSA Riverside County lawmaker's bill seeking to cap property taxes for many military veterans over 65 years old and exempt disabled vets from being taxed ...
How is long-term capital gains tax on sale of property calculated  Economic TimesThe CII of 2019-20 has yet not been announced. To arrive at the capital gain, you will have to reduce the indexed cost of acquisition from the selling price.
Service tax proposal is a veiled tax increase  CALmattersCalifornia *service* tax proposal would be a tax increase, worsen the state's affordability crisis and would not stabilize budget volatility.
Owner of Moline’s newest brewery concerned about proposed tax hike  WQAD MolineSome craft brewers in the Quad Cities are concerned about the impact these tax increases could have on their businesses if approved.
Philly’s supervised injection site nonprofit gets tax-exempt status from IRS  Philly.comSafehouse, the nonprofit hoping to open a supervised injection site in Philadelphia, has been granted tax-exempt status by the Internal Revenue *Service*, ...
Decoding income tax exemptions  LivemintEET stands for exempt-exempt-taxable where an investor can receive two exemptions on investments.The last exempt implies that lump sum amount received at ...
I-T dept set to bring changes in tax audit report for charitable trusts  Business StandardThe income tax department is set to bring changes in the tax audit report for charitable trusts to check misuse of funds, including foreign donations. This will be ...
Clarity on angel tax, effective implementation of Press Note 2 among many things startups want from new government  Moneycontrol.comClarity on angel tax, data privacy and a sharp e-commerce policy is what the startup ecosystem is looking forward to from the new government as the Narendra ...
Texas' legislative leaders say they have a deal on school finance and property tax reform  The Texas TribuneGov. Greg Abbott, Lt. Gov. Dan Patrick and House Speaker Dennis Bonnen announced they have finalized the details of the three bills that will accomplish their ...
AAR allows input tax credit by debt settlement under GST regime  Business StandardCompanies can claim input tax credit (ITC) under the goods and services tax (GST) regime even if the liability to pay for inputs between them, including tax, ...
Raise taxes on firms that harm nature, OECD tells G7 countries  The GuardianGovernments need to ramp up investment in nature restoration and raise the tax burden on companies that degrade wildlife, according to recommendations ...
Steven Mnuchin Refuses to Comply With Subpoena for Trump’s Tax Returns  The New York TimesWASHINGTON — Treasury Secretary Steven Mnuchin on Friday refused to comply with a congressional subpoena to hand over President Trump's tax returns, ...
Military families slammed by Trump tax reform demand changes  CNNPresident Donald Trump has long touted the advantages of his 2017 tax reform bill, but Republicans are now under fire for one of the bill's overlooked ...
We don’t know what Trump’s tax returns are hiding. But the hints are troubling.  The Washington PostWhen you look at the short span of President Trump's political career, one question jumps out: How much of his craziest, most paranoid and norm-violating ...
They Got Rich Off Uber and Lyft. Then They Moved to Low-Tax States.  The New York TimesMeet the semiretired millennials who left California for low-tax, low-stress places like Texas, as their former start-ups stampede toward the stock market.
Tax-dodging North Hills doctor who owes IRS $1.1 million leaves court in tears  Pittsburgh Post-GazetteA North Hills doctor who practices in Ohio left a federal courtroom Thursday in tears after a judge sentenced him to probation and a halfway house for not paying ...
Dividends from equities are tax-free for investors  Economic TimesDilip Lakhani Senior Chartered Accountant, answers queries from our readers on income tax and other levies.

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