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.

In The News:

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No Prosecution for Minor Offences upto Rs 25 Lakh, Two-member Collegium For Higher Tax Defaults  News18New Delhi: Finance minister Nirmala Sitharaman on Saturday announced that prosecution for procedural or tax defaults below Rs 25 lakh will be sanctioned ...
Dutch government to reform business tax rules  Minneapolis Star TribuneThe Dutch government said Tuesday it plans to reform a business tax rule that allows wealthy multinationals to reduce the amount of tax they pay on their profits.
Trump's tax returns, Israelis vote on Netanyahu's political future & 'Dancing' the political twist: The Morning Rundown  NBCNews.comGood morning, NBC News readers. President Donald Trump's tax returns have been subpoenaed, U.S. intelligence points the finger at Iran for the attacks on ...
Labour's tax on City deals would be a big vote winner  The GuardianFinancial sector is rattled by John McDonnell's support for an FTT that would raise about £7bn a year.
Chinese takeover of Bellamy's infant formula would benefit tax-haven entities  The GuardianAlmost 12% of firm's shares are held by Curaçao-registered entity linked to Kathmandu founder Jan Cameron.
Manhattan district attorney subpoenas Trump tax returns  MarketWatchNew York City prosecutors reportedly seek eight years' worth of President Donald Trump's tax returns.
Tax relief to SMEs | Small businesses may be exempt from filing FY18 GST returns  MoneycontrolThe Goods and Services (GST) Council may exempt small assessees from filing returns for FY18, reports BusinessLine. The Council, which will be meeting on ...
UAE's Federal Tax Authority launches campaign on expansion of Excise Tax  Gulf NewsAbu Dhabi: The Federal Tax Authority (FTA) on Monday launched its comprehensive awareness campaign which seeks to introduce the objectives and ...
Trump may have committed tax fraud by fabricating a loan to avoid paying income taxes on nearly $50 million  Business Insider"If he didn't actually buy the loan, this is just garden-variety fraud," a commercial-real-estate-finance expert told Mother Jones.
ITR filing guide: The process of claiming income tax refund  Economic TimesIf you have paid more tax than your actual tax liability or more tax has been deducted, then you are eligible for a refund. Want to know how you can claim this tax ...
Bumpy ride ahead: Tax department in rush to fight faceless regime hurdles  Business StandardThe ambitious faceless tax administration project, set to start on October 8, will initially take up the limited scrutiny cases across the country. Within a year, the ...
How a Trump Tax Break to Help Poor Communities Became a Windfall for the Rich  The New York TimesOpportunity zones were created as part of the Trump tax law to lure investment to distressed areas. But much of the money is fueling real-estate developments ...
ITR filing: How to maximise your income tax refund  Business TodayThe deadline for filing income tax returns is August 31, and procrastinators are advised to hurry to do the needful to beat possible glitches thrown up in the last ...

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