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:

Your parents, wife and children can help you save taxes. Here's how  Economic TimesSalaried individuals can save tax by paying rent to their parents and availing the HRA exemption benefit.
I'm filing my taxes with TurboTax and will probably get one of my smallest refunds ever, and I'm happy about it  Business InsiderFor the third year, I'm using TurboTax to file my tax return. So far, I've found the site helpful and fairly easy to use.
Taxes for senior citizens: Here's a list of benefits and exemptions available  Moneycontrol.comSeniors can claim deduction of up to Rs 50000 p.a. for medical expenses and/or health insurance premium.
CPAs encourage filing taxes early this year  WTOLThe IRS reports tax refunds have been lower this year because of president Trump's new tax law.
Alphabet's Sidewalk Labs wants a cut of Toronto taxes to build a smart city there  CNBCAlphabet's Sidewalk Labs proposed taking a portion of Toronto property taxes, development fees and increased land value to build a smart city on the eastern ...
Florida man got $980k tax refund, but he shouldn't have, feds say  NBC NewsA Florida man received a huge IRS refund by falsely claiming he paid $1 million in taxes, authorities said Friday. The IRS has recouped much of the $980,000 ...
The Americans paying more taxes  Roll Call Tax season has begun, and upper-middle-income taxpayers earning between $120,000 and $200,000 in states with high local taxes are the most likely to be ...
10 states that are the most tax-friendly for middle-income households  CNBCTired of high income taxes? Consider packing up and heading for Alaska, Delaware or Nevada. Here's a list of the 10 most and least tax-friendly states for ...
The 8 Most Common 2019 Tax Return Questions, Answered by Experts  The New York TimesThe most important changes to the tax code in decades have taken effect — and filers are confused. We asked CPAs and other tax-prep pros to simplify things.
Here's who is more likely to get a lower refund this tax season, according to experts  CNBCThe new tax law may mean many Americans see a smaller federal refund this year, or perhaps even owe money to the IRS. Here's who is most at risk.
What You Need to Know About the New Tax Law (Now That You’re Doing Your Taxes)  The Wall Street JournalThe Wall Street Journal's 2019 Tax Guide will help you sort through the confusion of doing your taxes for the first time under the new law.
Budget 2019: Only those with income up to Rs 5 lakh to pay no tax, rates remain same for all others  Economic TimesUnion Finance Minister Piyush Goyal in his interim budget 2019 has proposed that individuals with taxable income up to Rs 5 lakh will get full tax rebate under ...
Tax planning for 2019-20: Know what interim Budget offers to reduce your tax outgo  Times NowBudget 2019 came in full swing even though it was an interim one. With the announcement of full tax rebate for the salaried individuals earning up to Rs 5 lakh in ...
‘Opportunity Zones’ Offer Tax Breaks and, Maybe, Help for Communities  The New York TimesBy enabling investors to postpone paying the tax man, new funds may draw money into distressed communities. But succeeding at both may be challenging.
Property taxes dropping in half of King County cities after years of big increases  Seattle TimesTaxes for the median homeowner are going down in Seattle and up in Bellevue — but overall, tax rates are essentially flat in King County.
Amazon paid no federal taxes after earning $AU15.8 billion in profit in 2018  NEWS.com.auOnline retail giant Amazon doubled its profits last year but for the second year in a row paid zero dollars in US federal income tax. The $AU1.1 trillion company ...
Bill Gates says tax policies like Alexandria Ocasio-Cortez’s are ‘missing the picture’  The VergeSpeaking on The Vergecast this week, Gates said that while marginal tax rates in the United States can be "more progressive" there are now some politicians ...
Governor Northam signs tax legislation, income tax return processing begins  WTVR CBS 6 NewsThe Virginia Department of Taxation will begin processing individual income tax returns for Virginians after Governor Ralph Northam signed tax relief legislation ...
Munger Asks, ‘Who Wouldn’t Want Rich People?’ in Tax Pushback  BloombergCharles Munger, the longtime business partner of Warren Buffett, is skeptical of recent Democratic proposals to tax the wealthiest Americans.
Gundlach: My marginal tax rate is 52.6%, and it's 'really weird' that people like Mitt Romney pay 14%  Yahoo FinanceFamed bond investor Jeffrey Gundlach thinks there are other solutions to narrow a yawning income inequality gap than a 70% marginal tax rate.
Angel tax exemption may be hiked to Rs 25 crore  Economic TimesAngel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via issue of shares.
The 70% top tax rate, explained with potatoes  Vox.comA few weeks ago, Rep. Alexandria Ocasio-Cortez (D-NY) suggested that the top tax rate for the very rich should be 70 percent. The current top income tax rate is ...
Elizabeth Warren’s popular plan to tax the rich is probably unconstitutional  The Washington PostAs she officially kicked off her presidential campaign last weekend, Sen. Elizabeth Warren rallied her supporters behind her signature proposal: a wealth tax on ...
Richard Branson: World's wealthiest 'deserve heavy taxes' if they fail to make capitalism more inclusive  CNBCVirgin Group founder Richard Branson is part of the growing circle of elite business players questioning wealth disparity in the world today. Amid heated debate ...
Medical expenses that can be claimed as tax break under section 80DDB  Economic TimesThe deduction under section 80DDB can be claimed irrespective of whether you have paid a premium for a health insurance policy or not.
How did Netflix get away with not paying income tax in 2018?  The GuardianThe company posted its largest ever profit in 2018 – $845m – but paid no federal (or state) income tax, and there are a few clues as to why.
Do I have to pay school taxes if I live in a 55-and-older community?  NJ.comAsk lots of questions before you move to an adult community.
Republicans, governor at impasse on state taxes; deadline for filing could be June 15  AZCentralRepublican lawmakers are moving another bill that would mitigate the state tax hit for Arizonans, even after Gov. Doug Ducey vetoed their last attempt.
Filing Taxes on Your Phone? Insert Frustrated-Face Emoji Here  The New York TimesMillions of people are expected to submit their returns via mobile platforms this year. I won't be one of them.
Tax reforms, not coercion, will boost revenues  LivemintFirst four years of UPA-I saw faster growth in direct tax-to-GDP ratio than the first four years of the Modi regime, despite the absence of comparable aggressive ...
Linking Aadhaar-PAN is mandatory for tax filers; to be completed by March 31: CBDT  Times of IndiaNEW DELHI: The CBDT has stressed that Aadhaar-PAN linking is 'mandatory' for those filing an Income Tax Return (ITR) and this procedure has to be ...
People with income up to Rs 9.5 lakhs can escape tax liability: Piyush Goyal  Economic TimesGoyal said individuals earning up to Rs 9.5 lakh can escape liability by taking advantage of saving schemes.
Just who are the taxpayers?  Bangalore MirrorIndia has one of the worst ratio of taxpayers to voters . If we want to become a developed country, we need more people filing taxes. Have you wondered how ...
Tax business denies service to local gay couple, citing religion  Kokomo TribuneFor the last four years, Bailey Brazzel has gone to Carver Tax *Service* in Russiaville to have her taxes done by Nancy Fivecoate, who runs the business.
How tax brackets actually work  VoxA few weeks ago, we published a quick visual explainer on how tax brackets actually work. It was in reaction to this tweet from Rep. Steve Scalise (R-LA), who ...
Income Tax Department responsible for loss of Rs 6,000 cr in real estate taxes after error in assessment,...  FirstpostCAG has exposed the chinks in the armour of the Income Tax Department revealing that the department has lost Rs 6093.71 crore as tax revenue from the real ...
These red flags on your 2018 tax return could spark interest from the IRS  CNBCMost taxpayers will never face an audit or even receive correspondence from the IRS. Nevertheless, certain things on tax returns generate more attention from ...
Income Tax Department reminds individuals, HUFs to deduct and deposit TDS on rent: How to do it  The Financial ExpressThe tax on total rent has to be deducted at the time of credit of rent for the last month of the financial year or the last month of tenancy, if the property is vacated ...
Your employer can help you reach zero-tax income level of Rs 5 lakh: Here's how  Economic TimesHere are six benefits that can help the salaried bring down the taxable component of income from the employer.
Corporate tax breaks can backfire — as New York City just found out  NBCNews.comAmazon's high-profile withdrawal from a multibillion-dollar development in New York City has shone a spotlight on the perceived need for tax breaks and other ...
World’s Tax Collectors Look to Divvy Up Tech Giants’ Billions  The Wall Street JournalThe Organization for Economic Cooperation and Development is seeking public input on proposals to determine where the profits of digital companies such as ...
Harris fact-checked over ‘nonsensical’ claim Trump hiked taxes on middle class  Fox News2020 hopeful Sen. Kamala Harris, D-Calif., is under fire for claiming that lower tax refunds are a sign that the Trump tax cuts are “a middle class tax hike” ...
The tax code treats all 1 percenters the same. It wasn’t always this way.  The Washington PostWhen we debate income tax policy in the United States, we typically focus on what's in the chart above, which shows the top marginal tax rate from 1913 to the ...
These are the potential tax measures federal budget watchers are speculating about this year  Financial PostJamie Golombek: Personal tax rates are high and there's an election on the horizon.
Government shutdown 2019: how tax refunds and returns will be affected  VoxThe government shutdown may not stop tax refunds, or tax returns, after all.
Polls: Hiking estate tax less popular than taxing mega wealth, income  The HillAmericans are proving increasingly receptive to raising taxes on the well-to-do, but new polling suggests that idea of increasing inheritance taxes is not as ...
Americans continue their march to low-tax states | TheHill  The HillThe continued exodus of Americans away from less economically competitive states remains evident in the new census numbers.
The new tax law has a bunch of changes. Here's what you need to know as filing season begins  CNBCIt's time to sharpen your pencils and work on that 2018 income tax return. Just make sure you understand the new tax law first. After one year under the Tax Cuts ...
NYC hedge-fund managers and Silicon Valley CEOs are flocking to Miami as 'tax refugees,' and it's sparking record, ultra-luxury real-estate sales in the area  Business InsiderTech CEOs and hedge-fund managers are fleeing to Miami, where a top broker is seeing 'record sales' of multimillion-dollar, ultra-luxury homes.
8 common tax saving mistakes which may cost you dearly  The Financial ExpressHasty investment decisions, more often than not, are error-prone and lead to regret later. Let's look at a few common mistakes that investors make.
Property tax bills drop for half of King County cities  KING5.comSEATTLE — Property tax bills were mailed Thursday, and residents in about half of King County cities will see their taxes go down for 2019. One of the biggest ...
Report puts Ossining condo tax break back on table as single-family owners seek equity  The Journal News | LoHud.comA report from The Benjamin Center at SUNY New Paltz has revived debate in Ossining over the tax break for condominiums.
For Democrats Aiming Taxes at the Superrich, ‘the Moment Belongs to the Bold’  The New York TimesThe only thing more startling than the flurry of tax proposals Democrats have unveiled in recent weeks is the full-throttle response they've gotten from the public.
Alexandria Ocasio-Cortez Has the Better Tax Argument  The AtlanticA 70 percent marginal rate could help, not hurt, innovation.
Legislative bill would tax groceries in exchange for property tax relief  KMTV - 3 News NowA bill in the legislature aiming at lowering property taxes in the state would raise taxes on a number of items, including removing the sales tax exemption on ...
Bill proposed to lower taxes for craft breweries  WQOW TV News 18Representative Ron Kind has introduced a bill to help alleviate some tax burden on craft breweries permanently.
Against arbitrary rulings on tax  Economic TimesIndian residents with indirect holdings in foreign companies could reportedly be headed for a run-in with the taxman. Tax transparency with respect to indirect ...
Bill Gates: ‘Extreme’ Alexandria Ocasio-Cortez’s Tax Reforms Would ‘Create Tax Dodging’  Yahoo NewsWhat does America's second wealthiest man think of Ocasio-Cortez's tax reforms? Bill Gates believes that talk of a top-rate tax of 70 percent is “extreme” and ...
As Marylanders do their taxes, many are asking: Why'd I get such a big tax hike?  Baltimore SunMaryland is faring particularly poorly under the sweeping changes to federal tax code that President Donald Trump and congressional Republicans enacted in ...
Income Tax Refund status: How to check refund status in ITR on Income Tax India efiling website  The Financial ExpressThe tax department starts the refund process only after the ITR is verified and the refund amount is paid if the claim of refund is accepted by the department.
Ocasio-Cortez wants to raise the tax rate on high earners. The Tax Cuts and Jobs Act already did  Brookings InstitutionIn the 2017 Tax Cuts and Jobs Act, Republicans imposed a top tax rate between 60 to 70 percent on high-income corporate executives. Adam Looney argues ...
Taxes in Retirement: How All 50 States Tax Retirees  Kiplinger's Personal FinanceWe rated every state plus D.C. based on how retirees are taxed including taxes on Social Security and other retirement income, as well as tax exemptions for ...
Gov. Gary Herbert expects plan adding sales taxes to services to pass this session — but what services?  KSL.comGov. Gary Herbert said Thursday he expects to see a tax reform plan passed by lawmakers this session but wasn't ready to say which, if any, services should not ...
A History Of Presidential Tax Returns  NPRCommentator Cokie Roberts talks with Steve Inskeep and answers listener questions about the history of presidents and their tax returns.
The super rich at Davos are scared of Alexandria Ocasio-Cortez's proposal to hike taxes on the wealthy  CNBCThe super rich attending Davos have misgivings about Ocasio-Cortez's proposal to boost the tax rate on earnings above $10 million to 70 percent.
Income Tax Challan 280: How to use it to pay tax online to avoid query from I-T Department  The Financial ExpressAdditional taxes may become payable due to deduction of insufficient TDS or when interest income or income from some other sources are added to main ...
After someone stole my tax refund 2 years ago, I found the best way to protect myself is also the easiest  Business InsiderI already filed my taxes with the IRS using H&R Block. It took about an hour, and I should get my tax refund within 21 days via direct deposit.
National Savings Certificates (NSC) vs tax-saving FD: Which one should you choose for 80C exemption?  Times NowNew Delhi: National Savings Certificates (NSC) and tax-saving fixed deposits are two most popular debt instruments used by taxpayers to save tax under ...
Dear CRA: Shut Up And Take My Paper Tax Return  HuffPost CanadaOnce again it's tax time and that means it's also time for my annual battle with the Canada Revenue Agency (CRA), but it's not for the reason you might think.
Tax saving guide for FY 2018-19  Economic TimesBookmark this page as we will be updating it with stories regularly to help you through the tax-saving season this year.
Alexandria Ocasio-Cortez’s Tax Hike Idea Is Not About Soaking the Rich  The New York TimesAlexandria Ocasio-Cortez has kick-started a much-needed debate about taxes. But the debate, so far, has been misplaced. It's obvious that the affluent ...
Amazon May Get a Tax Break for the Poor With a Project in America’s Richest County  BloombergQuintAmazon.com Inc. walked away from billions of dollars of public subsidies when it announced Thursday it was abandoning plans for an office complex in New ...
Tax cuts could be the 'front line' of China's fight against slowing growth, experts say  CNBCTax cuts in China could be the center of Beijing's fiscal fight against an economic slowdown amid an ongoing trade spat with the U.S., experts said.
Revealed: wife of Putin's spokesman faces questions over US tax affairs  The GuardianFormer Olympic champion Tatiana Navka may have underreported income, claimed wrong status and owed unpaid property tax.
How is your tax slab calculated?  LivemintRemember that your entire income doesn't get taxed at one rateBesides your tax slab, you also have to pay cess on your total tax outgo.
State sends incorrect tax form to about 9,000 people  The Columbus DispatchAbout 9000 people who collected money last year from Ohio's unclaimed-funds operation have received a tax form that includes incorrect information, the state ...
No cut in subsidies, expect more tax steps in full budget: Piyush Goyal  Economic TimesNEW DELHI: The Narendra Modi government will not cut any subsidies to fund welfare schemes such as the income support for farmers announced in the ...
DSP Tax Saver Fund: Healthy long-term track record  Economic TimesET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help ...
Japan Economic Alliance Asks Financial Regulator FSA to Reduce Tax on Crypto  CointelegraphNews. The Japan Association of New Economy (JANE) has asked the Japanese Financial Services Agency (FSA) to reduce the current tax rate for crypto trading ...
Elizabeth Warren’s wealth tax explained  Vox.comA 2 percent levy on assets more than $50 million, and higher rates on billionaires.
Trib Caucus: From guns to flags to sales tax reform, here's your recap of week three of the state legislative session  Salt Lake TribuneEvery week during Utah's legislative session, The Salt Lake Tribune's political reporters and columnists chat about the hottest topics of the week. The following is ...
EXCLUSIVE: Income tax should be abolished, says Subramanian Swamy  Times NowBJP leader Subramanian Swamy today recommended that “the government should abolish Income Tax” altogether. This move, he felt, should be among the first ...
Former deputy tax commissioner Michael Cranston found not guilty  The GuardianSenior public servant did not misuse his position to help his son, court finds.

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