Tax Help Secret: Avoiding the Entreprenuers Curse

Your days as an entrepreneur and businessperson are consumed with one primary activity; making money. Whether you think in terms of growing your business, getting the word out there, or some fancy new marketing technique, your days and weeks and months in business are focused on that one group of activities. In fact, some of you are marketing machines.

Tax Secrets of the Rich Found Here

Maybe you've developed a new product line. Or, set up a joint venture with a new partner. If you're a real estate investor, you're looking for another deal or strategy for locating under-valued properties.

No matter how you break it down, entrepreneurs are single-focused. MAKE MORE MONEY. You live it, you breath it and you sleep it.

Asset Protection

I call it the entrepreneur's curse.

Don't get me wrong. It's not completely bad. In fact, the most singly focused people I know are the most successful. But building your business up can't be your only focus.

There are two BIG reasons why.

Taxes and Lawsuits.

Left unmanaged taxes and lawsuits will eat you alive. Taxes do it slowly but surely. They chip away at your net worth a little at a time. It can be so subtle, that you've stopped noticing. Let's face it, when was the last time you looked at your pay stub (yes, even if you're self-employed). There's one line of income and three lines of taxes (Fed, State and FICA) they're alone. But when was the last time you really noticed it?

You've been conditioned not to care. But every dollar that you overpay in taxes is a lost opportunity to build wealth. Think about it; if someone handed you $10,000 or $20,000 to invest in your business, couldn't you leverage the heck out of it?

Maybe you'd buy a piece of (almost) no money down real estate and flip it for $20,000 profit.

Or launch an ad campaign - radio or print.

Or start a web marketing campaign.

Whatever your strategy of choice, you would parlay that money into something bigger and compound the returns on top of it. But if you throw that money away by unnecessarily overpaying your taxes, it's gone. (Remember, a penny saved is a penny earned) And so is the opportunity. Forever. What a shame!

Then there's lawsuits. They mess you up differently. If taxes steal away your money in the night, lawsuits are like a tiger. Waiting. Stalking. Circling. And then, at the opportune moment - BAM! It's over. They pounce on you and you don't even know what hit you.

It might be an angry tenant, or the passenger in a car that you ran into. It could be your spouse or a disgruntled employee. It could be any one of a thousand reasons that people can sue you (there are millions of lawsuits each year).

Whatever the reason, before you can fully regain the use of your senses, you're upside down and inside out. And it can take years before you can pull yourself up by the bootstraps and start over again.

Then, you find you're digging yourself out of a big hole. It doesn't have to be that way. There is a better way. A way for you to build consistent protected wealth that lasts for generations.

Tax Strategies

That's what my new Wealth Accumulation program is all about. The last thing I want to see is you work for years building a great asset base - only to have someone bring it toppling down. It's not necessary and you deserve better than that. I am trained as an attorney and practiced in the State of New York for 12 years as the senior partner of my own firm, where I was admitted to both the State and Federal Bars and specialized in the areas of business and real estate.

I have benefited from the strategies he teaches and I've saved thousands and thousands of dollars in the process.

Ladies and Gentleman, I give you
The Tax Saving Attorney,
Drew Miles.

P.S. It's the little things in life that make all the difference. Missing the details here could be devastating to you and your family.

P.P.S. Be a hero to those you love. Do it right the first time.

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.

In The News:

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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 ...
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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.
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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 ...
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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 ...
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.
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 ...
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 ...
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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 ...
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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.
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'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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