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:

The case for raising the alcohol tax  Vox.comA higher alcohol tax would save lives, prevent crime, and mostly affect excessive drinkers.
Confused about tax return changes? Here's how to find your new bracket  CNBCThe IRS has updated its individual income tax brackets for the new year. The agency has also tweaked its standard deduction and done away with a $695 ...
China's Rich Rush to Shelter $1 Trillion From New Taxes  BloombergQuint(Bloomberg) -- Wealthy Chinese are rushing to shelter assets and income in overseas trusts before new tax rules go into effect next month, including provisions ...
GST Council may look to rationalise 28% slab; taxes on cement may be cut  Moneycontrol.comThe council, chaired by Finance Minister Arun Jaitley and comprising his state counterparts, has pruned the 28 per cent slab by cutting tax rates on 191 goods ...
5 steps you can take before year’s end to avoid an unpleasant tax surprise next year  MarketWatchSome things shouldn't wait — planning for Tax Day is one of them.
EDMC proposes two new taxes, education cess in 2019-20 budget  Times of IndiaNew Delhi, Dec 10 () Cash-strapped East Delhi Municipal Corporation (EDMC) on Monday proposed two new taxes and an education cess in its budget for ...
Airtel Niger faces shutdown over non-payment of taxes  Business TodayThe General Tax Directorate of Niger ordered the closure of the offices of Airtel Niger, seeking tax amounts that have been disputed by Airtel.
Know These 6 Federal Tax Changes to Avoid a Surprise in 2019  U.S. News & World ReportTaxpayers should review their withholdings to ensure they don't owe a big tax bill in 2019, experts say.
Best ELSS fund to save taxes this financial year  Economic TimesIf you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
Income Tax Return (ITR) filing: This State Bank of India scheme helps you save on taxes; gives 7.35 pct int...  Zee BusinessIncome Tax Return (ITR) filing: The State Bank of India also offers an investment tool that allows you to claim an exemption in tax. The investment attracts an ...
Make these 2 tax moves in time to cut your tax bill  Yahoo NewsSaving for retirement is a good idea, of course, but if you time things right and do your homework, some of your nest egg could also do double duty as a tax ...
This falling market offers an opportunity to cut your taxes in retirement  CNBCThere might be a silver lining in this fall's recent market tumult: Now could be a good time to convert some of your retirement savings to a Roth IRA. We explain ...
EDMC proposes 2 new taxes and an education cess in its 2019-20 budget  Business TodayEDMC Commissioner Puneet Kumar Goel made the announcement of new taxes while presenting the budget at the civic agency's Patparganj headquarters.
Shakira charged with tax evasion in Spain  The GuardianSpanish prosecutors have charged the Colombian singer and philanthropist Shakira with tax evasion, alleging she avoided €14.5m (£13m) in taxes by claiming ...
Celebrate the holidays by singing The 12 Claims for Taxes  The Globe and MailWe all know the seasonal favourite The Twelve Days of Christmas. Only slightly less popular is the song The 12 Claims for Taxes – which is sung to the same ...
Letter: Boost gas tax, infrastructure  The ColumbianIn a Bloomberg news article, Mark Niquette ("Higher gas tax needed to restore U.S. highways, report says") again states the obvious: We cannot expect to ...
Climate change: Protecting the poor from green taxes  BBC NewsAs President Macron caved into the yellow vest fuel tax protests, President Trump was triumphant. The French humiliation showed people rejected the sort of ...
Tax on your gold and real estate investments  LivemintHere is a look at the taxes that apply to short-term and long-term gains from these two asset classes.
Who can deduct property taxes for this house?  NJ.comYou can only take the deduction for property taxes under certain circumstances.
All you need to know about gift tax this wedding season  Times NowGifting a valuable asset during a wedding is quite common in India. However, it is crucial to know that these gifts attract a gift tax as per the Income Tax Act.
Investing solely to avoid taxes is a bad, wasteful strategy: View  Economic TimesWhile many opt for creative accounting of expenses and tax deductibles, these practices also needlessly complicate matters for inheritors.
India's tryst with taxes  Forbes IndiaWhile the rich pay a bulk of the income tax paid by individuals in India, many wealthy people do not pay their share of taxes.
Withdrawals Under National Pension Scheme To Be Tax-Free  BloombergQuintWithdrawals made by subscribers of the National Pension Scheme at the time of retirement will be made tax free.
O rly? California considers plan to tax text messages  NBCNews.comYour texted emojis may soon cost you in California, if the state's public utilities commission votes to approve taxing text messages next month.
Managing Money with Moneycontrol | Income tax savings on house rent allowance  Moneycontrol.comTo share with us how investors can maximize tax savings on HRA is our personal finance expert, Mr. Gautam Nayak, Partner CNK & Associates.
7 year-end tax tips to boost your refund  CNBCThe new tax law has put a whole new spin on year-end tax planning, though it hasn't eliminated the need to do it altogether. "The tricks we had in our back ...
The Tax Cuts And Jobs Act: 3 Changes You Should Know  ForbesTax season is coming more quickly than you might think — has the Tax Cuts and Jobs Act affected you? Read here to discover more!
Feds Collect Record Taxes Through November; Still Run $305.4B Deficit  CNSNews.com(CNSNews.com) - The federal government collected record total tax revenues of $458,653,000,000 in October and November, the first two months of fiscal 2019, ...
Divorcees can save on taxes — if they take this one step  CNBCIf you're planning on shedding weight in 2019 — in the form of your soon-to-be ex — be sure you understand this tax-planning benefit. Why the "head of ...
Taxpayers Beware! Never fall for this income tax refund fraud, warns I-T Department  The Financial ExpressIf you have received an email or SMS from someone asking you to share your debit card details to be able to get your tax refund in your bank account, then ...
California considering text message tax – but iMessages would be exempt  9to5MacCalifornia is considering introducing a tax on text messages. The reason? Because nobody makes phone calls any more. While you might not be aware ...
Maybe It’s Not Taxes That Scare Off Business but Failing Subways  The New York TimesAmazon is coming to New York despite the city's transit horrors. Other companies may not be so forgiving.
Beware! These tax-saving investment mistakes can sink your finances  The Financial ExpressIt's said, if you fail to plan, it means you plan to fail. So, it's better to plan before you make your tax-saving investments, so that you may reach your financial goal ...
Gov. Inslee proposes new capital gains tax, more taxes on some businesses  Kitsap SunOLYMPIA — Gov. Jay Inslee is proposing a new capital gains tax and an increase in business taxes on services as part of his next two-year budget proposal that ...
The New 2019 Federal Income Tax Brackets And Rates  ForbesWe're just about to enter 2018 tax filing season. But already the IRS has issued new federal income tax brackets for 2019. Confused? That's completely ...
Happy holidays -- Now finalize that divorce before tax law changes Jan. 1  WUSA9.comA change in the tax law means courthouses across the country are jammed with couples trying to finalize their divorces before New Years.
No tax on up to Rs 50,000 interest for senior citizens  Times of IndiaIndia Business News: In a notification issued on December 6, it has clarified that no TDS has to be deducted under section 194-A of the Income Tax (I-T) Act in ...
Cell Phone Taxes and Fees in 2018  Tax FoundationA typical American household with four wireless phones paying $100 per month for taxable wireless *service* can expect to pay about $229 per year in wireless ...
Even with tax cut, Dem Delco councilman says county could slash more  The Delaware County Daily TimesEven as Delaware County Council moved forward to reduce taxes for county property owners, one councilman said even more could be saved if corruption was ...
FCC panel wants to tax Internet-using businesses and give the money to ISPs  Ars TechnicaAt AT&T's urging, committee proposes tax on websites to pay for rural broadband.
Taxmen catch buffalo meat, slap Rs 25 lakh in taxes, penalty  Economic TimesThe Commercial Taxes department officials in Belagavi have collected Rs 25 lakh in GST levies as well as penalty after intercepting four trucks mounted with ...
Pay Your Taxes In Bitcoin, Trigger Tax Losses On Price Drop Too  ForbesWith Bitcoin and other crypto prices down again, many holders don't want to sell. But if you owe taxes, how about paying them in Bitcoin? Selling now may ...
French lesson for Modi: Don't raise fuel tax  Economic TimesRIOTERS IN PARIS Last weekend, demonstrators turned Paris's wealthiest neighbourhoods into a battle zone to make themselves heard. Until Saturday ...
Exclusive | Centre may soon cut tax on hybrid cars to 35 percent  Moneycontrol.comThe latest calculations, however, show that with all the steps being taken by the government at present, India would achieve penetration of mere 5 percent over ...
Ten companies pay 45% of all corporate tax in Australia  The GuardianCorporate tax increased by 20% between 2015-16 and 2016-17, rising $7.5bn to $45.7bn, driven by surging commodity prices.
Going Through Divorce? Start These 3 Steps Today To Save On Taxes  ForbesThe Tax Cut and Jobs Act eliminated the alimony deduction for divorces after 2018. The new law will mean less money for expenses of the two household.
House Democrats to seek Trump tax returns: Pelosi  ReutersDemocratic leader Nancy Pelosi said on Thursday that members of congress from her party will seek to obtain President Donald Trump's tax returns when they ...
Scotland freezes threshold for higher-rate income tax  The GuardianScottish finance secretary to freeze threshold for higher-rate income tax at £43431 to help finance cuts for least well-off.
How to save tax on capital gains arising from selling a house  Economic TimesMy 71-year-old father had purchased a house in 1972 for Rs 1,000. Now he is planning to sell it for Rs 28 lakh. What will be his capital gains tax liability?
California proposes a plan to tax text messages  CNNSan Francisco (CNN Business) California regulators want to tax text messages to increase funds for programs that bring connectivity to underserved residents.
China Seeks to Defuse Trade War With Reversals on Cars and Corn  BloombergQuintChina will remove the punitive duty on automobiles imported from the U.S. for three months in an effort to defuse trade tensions with the world's biggest ...
Central govt staff can now save tax via NPS with only 3-year lock-in  Economic TimesSubstantially reducing the lock in for availing section 80C tax benefit on NPS investment the government has brought it on par with one of the most popular tax ...
Income Tax Return (ITR) filing: No need to generate slip! From bank ATM to Aadhaar, 5 steps to tax redempti...  Zee BusinessIncome tax return (ITR) filing: Taxes form a major part of the outgo for any salaried employee. However, not everyone has to pay taxes and file for Income Tax ...
Good jump! Corporate tax collection up 18 per cent in April-November, fastest in five years  The Financial ExpressCorporate tax collection grew an impressive 18.3% in April-November of FY19, the fastest pace in at least the last five years.
Qualifying for disability tax credit an uphill battle for many amid spike in CRA rejections  Financial PostOne of the most valuable tax benefits for persons with disabilities is the disability tax credit (DTC), which can be worth between $1,500 to $2,700 of combined ...
North Dakota governor proposes tax exemption for military pay, pensions  Military TimesGov. Doug Burgum wants to exempt military pay and pensions from North Dakota income taxes, arguing in part that retaining veterans could help the state fill ...
US State of Ohio Accepts Bitcoin for 23 Types of Taxes  Bitcoin NewsThe U.S. state of Ohio has set up a cryptocurrency payment portal and reportedly starts accepting payments in bitcoin for 23 types of taxes this week. “Ohio has ...
Direct tax collections rise 15.7% YoY for April-November period  Economic TimesThe direct tax collections are up 15.7% for the April-November period from corresponding period a year ago, data released by the government on Monday ...
National Pension System Tax Benefit: These NPS subscribers enjoy PPF-like feature!  Zee BusinessNational Pension System Tax Benefit: If you are tier-II National Pension System (NPS) account holding government employee, here's some good news for you.
The Golden Age of Rich People Not Paying Their Taxes  The AtlanticAn eight-year campaign to slash the IRS's budget has left the agency understaffed, hamstrung, and operating with archaic equipment. The result: a ...
More Property Tax, Health Plans Part Of Proposed Delhi Civic Body Budget  NDTV NewsHike in property tax, levying of professional and betterment taxes, and plans for a health scheme on the lines of Ayushman Bharat for Class IV employees were ...
How senior citizens can avail tax break on interest income under Sec 80TTB  Economic TimesBudget 2018 introduced a new section, 80TTB, under the Income Tax Act which allows senior citizens to claim tax break on specified interest income up to Rs ...
Why the days of fuel taxes funding bridges and roads are numbered  Stuff.co.nzOPINION: A recent United Nations report suggests we're having the wrong debate at the pump. The UN Intergovernmental Panel on Climate Change (IPCC) ...
BBMP to seize property, serve warrants to improve property tax collection in B’luru  The News MinuteAs poor property tax collection by the Bruhat Bengaluru Mahanagara Palike (BBMP) continues to remain a pressing issue, Mayor Gangambike Mallikarjun has ...
What the Amazon tax breaks really mean  Vox.comI think the easiest way to understand Amazon's HQ2 and the specific question of cities handing out tax subsidies is to abstract away from the particular details of ...
France’s protesters are part of a global backlash against climate-change taxes  Washington PostThe single most effective weapon in the fight against climate change is the tax code — imposing costs on those who emit greenhouse gases, economists say.
'Taxes, Taxes and Taxes': Tax-Burdened Protestors Reach Tipping Point in Socialist France  CBN NewsThe French are used to high taxes, but it was a new carbon tax that finally pushed French taxpayers to the tipping point, and ignited the worst protests in 50 ...
Are the French hit especially hard by fuel taxes?  The GuardianA planned rise sparked the gilets jaunes protest – here's how their fuel costs compare with the rest of Europe.
Tax on free services: PMO set to wade into ₹40,000 cr spat between banks, revenue dept  BusinessLineMumbai, November 25. With banks staring at a massive tax outgo of ₹40,000 crore on free services provided to customers to maintain a minimum balance, and ...
Nassau property taxes take spotlight at reassessment meeting  News 12 Long IslandNassau residents are getting the chance Wednesday night to weigh in on the county's controversial property reassessments.
Taxman starts questioning & issuing notices to BPOs  Economic TimesIndustry trackers fear that more and more companies may now be issued notices and questioned.
Taxpayers Alert! Have you filed your income tax? Remember these deadline nears; know from TDS, TCS to chall...  Zee BusinessAlthough one would not like to share their income and income from other sources with authorities, however, it comes as a helping hand for government in ...
'No tax benefit on house sale if new flat is in wife's name'  Times of IndiaIndia Business News: The Income-Tax Appellate Tribunal (ITAT)'s Mumbai bench recently denied a taxpayer I-T benefits available when long-term capital gains ...
Paris Is Burning Over Climate Change Taxes -- Is America Next?  ForbesThe bottom line is this: economic freedom—the kind you get with a large middle class—leads to prosperity, economic growth, and technological innovation.
Hindustan Unilever pitches for reducing corporate tax rate  Moneycontrol.comWhile GST has proven to be a game changer and is positively impacting taxation practices,
Pakistan government to impose 'sin tax' on tobacco  Economic TimesISLAMABAD: Pakistan will soon impose a 'sin tax' on cigarettes and sugary beverages and that fund would be diverted to the health budget, Minister for National ...
Rs 262 crore cyber-tax fraud unearthed in Delhi  Times of IndiaNEW DELHI: The Delhi government's Trade and Taxes Department has unearthed a cyber-tax fraud totalling Rs 262 crore, happening since 2013 with over 8,.
Property Taxes Could See Big Jump  CKPGToday.caPRINCE GEORGE - The City's annual round of budget discussions formally got underway this week with the first Finance and Audit Committee meeting.
Tax savers start hunting for best ELSS ahead of tax-saving season  Economic TimesTraditionally, January to March is known as the tax-saving season. However, the season has already started in December ahead of the tax season next year.
Tax-free redundancies expanded to over-65s  The Sydney Morning HeraldThe federal government will use a budget update on Monday to ease the tax burden on older Australians who are forced out of their jobs, in a sign of a healthier ...
Oregon lawmakers get a taste of possible tax hikes in 2019  OregonLive.comBusiness begins for the day on the floor of the Oregon House of Representatives on May 14, 2015 at the Capitol in Salem. Randy L. Rasmussen/Staff LC- The ...
National Pension system: Now get tax-free maturity withdrawals; check details here  The Financial ExpressThe government has made the whole 60% of the NPS accumulated corpus tax free, bringing it at par with PPF and EPF, besides raising its contribution to 14% of ...
Income Tax made easy: PAN card in 4 hours, pre-filled I-T forms on the anvil  Business TodayThe tax department is looking to introduce technology and automation based reforms to make tax return filing easier. Taxpayers could soon get PAN cards in just ...
Big crackdown on GST evaders! Tax evasion worth whopping Rs 12,000 crore detected in April-November  The Financial ExpressThe government has detected GST evasion worth Rs 12000 crore in 8 months till November, a senior tax official said Wednesday.
Five ways to e-verify your ITR  Economic TimesFind out the various easy, secure and quick ways to verify your income tax returns (ITR).
ETWIW: Multicap funds, financial planning errors, and efficient tax planning in Kolkata  Economic TimesDo multicap mutual fund schemes make more sense after the recent re-categorisation exercise by Sebi?
Six tax deductions you'll lose on your 2018 return  CNBCIf you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That's because the Tax Cuts ...
How Trump's (Private) Tax Returns Could Become Public: QuickTake  BloombergThough candidates for the U.S. presidency aren't required by law to show voters their tax returns, they almost always do so as a gesture of personal disclosure.
The Great American Tax Heist Turns One | by J. Bradford DeLong  Project SyndicateLast December, Republicans relied on the support of conservative economists who predicted that the party's corporate tax cuts would boost productivity and ...
Wow, a Financial Transactions Tax Is an Amazingly Good Idea  SplinterImagine—just imagine—if a tiny, barely noticed tax on Wall Street could solve many of our nation's problems. Well it can!!!!!!!!
Jordan: Anti-tax protests resume as new government seeks dialogue  Al Jazeera EnglishProtesters take to the streets, months after similar rallies called for an end to tax reform bill, austerity measures.
How to avoid tax saving traps set by unscrupulous wealth managers, bank officials  Economic TimesBy Team ET Wealth Looking for a tax-saving option? How about a plan that gives your tax savings, provides tax-free income at regular intervals and gives a big ...
Why only 2% of Chinese pay any income tax  The EconomistOF COURSE NOT, I'm not an idiot,” says Liu Yongli, a chauffeur in Beijing, when asked whether he has ever paid personal income tax. Despite earning well ...
Town, LIPA in court for possible tax settlement  NewsdayRepresentatives for LIPA and Brookhaven Town will be in state court in Riverhead Friday seeking a judge's approval for an agreement to settle a decade-old tax ...
Ecommerce firms facing glitches in filing 'tax collected at source' details  Economic TimesNEW DELHI: E-commerce companies are facing technical issues in filing the details of tax collected at source (TCS) from their sellers on the GSTN website, ...
Top five tax-saving bank FD rates  Economic TimesTax-saving fixed deposits (FD) are one of the most popular investment avenues in the section 80C basket of financial instruments. To save tax, many people use ...
No, The Deficit Isn't 'Soaring,' But Tax Revenues Are At Record Highs  Investor's Business DailyIn the first two months of the new fiscal year, tax revenues are up. But so is the deficit. Why? Because spending continues to outpace revenues. So why do tax ...
Income Tax Dept dismissed 40 officials since 2014-15  The Financial ExpressThe income tax department (ITD) has dismissed/removed 40 officials since FY 15 till date based on complaints received against these persons.
Tax queries: Gifts received from relatives are not taxable  Economic TimesDilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies. Can charges for services (such as courier, ...
Macron to speed up tax cuts, raise wages after protests  RTE.ieFrench President Emmanuel Macron has announced wage rises for the poorest workers and tax cuts for pensioners, offering concessions after weeks of often ...

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