According to the NY Times, President Trump paid $750 in U.S. income taxes in 2016 and 2017. Now I’m not saying he’s right or he’s wrong (there’s a fine line between tax evasion and tax sheltering and he may have crossed it) but what I am saying is there’s something to be learned from this. There are LEGAL hacks to the tax code but it takes time to learn these hacks and requires a lot of tax planning or an expensive accountant!
Fortunately for you, I studied the tax code for three years, so you don't have to learn it. Then, I created my course, Deduct Everything, to help taxpayers like you minimize your taxes. This article will explain the top three reasons to invest in Deduct Everything today!
Decrease Your Taxes, Increase Your Net Worth
Entrepreneurs and business owners must invest in Deduct Everything. Regardless of how much money you make, what matters is how much money you keep. If you invest in Deduct Everything, you could increase your net worth like James.
James learned my tax tips in Deduct Everything and took action immediately. He decreased his taxes by $20,000 and increased his net worth by $56,000 with one tax tip.
As an attorney in Chicago, James has owned his own business for a couple of years. He decided to take my course because he wanted to find out how to save more money and pay fewer taxes. Thanks to his business's success, James is in one of the higher tax brackets for federal taxes.
However, after James took the course, he learned he could open a Solo 401(k) as a business owner. When you invest in a Solo 401(k), you can save up to $56,000 a year towards retirement. Plus, James doesn't pay taxes on the money he keeps in the Solo 401(k). Maxing out his Solo 401(k) helped James increase his net worth by $56,000, and he lowered his tax bill about $20,000 in the same year.
Double Your Deductions and Knowledge
It's true what they say. You don't know what you don't know. Ninety percent of business owners overpay taxes simply because they don't know all of their eligible tax deductions. That's why Deduct Everything provides a complete list of tax deductions most people wish they knew.
If you aren't a business owner, this list can still help you find more items to deduct. Or it may encourage you to start a side hustle or small business so you can take advantage of more tax deductions. How would you like to write off your next vacation or protect your assets from legal disputes?
When you purchase Deduct Everything, you get an immediate return on your investment when you implement your first few tax tips. Plus, you can use the tax tips each year. This course is the gift that keeps on giving.
Get What You Want and Make It Work For You
Every birthday is a gift, and this year I gave myself the gift of no more car notes. But you haven't heard the best part yet.
I haven't paid a car note in over three years! Now let me be clear. I didn't miss any payments. Instead, I made my car work for me!
The first thing I did was list my car on Turo, a car-sharing service. I've made an average of $700 per month renting out my car for over three years. My car note was only $375 per month. So subscribing to car-sharing not only paid my car note, but it paid me as well. Lastly, my business savvy move also saved me $5,000 in taxes per year! I was able to deduct some of my car expenses since it supported my business.
Now that's what I call a win-win.
Access to a Community of Tax Savers
Who wants to be wealthy and a master of taxes alone? Not me. That's why I also created a Facebook community, Money, Business, & Tax-Saving Mastermind, for Deduct Everything students. You can engage with others while you are taking the course and beyond. I encourage everyone to share their stories and tips, so everyone wins.
We all must get more comfortable talking about wealth and wealth-building strategies so we can all rise.
These tax tips and real-life examples of how to optimize your tax strategy is just the tip of the iceberg. Deduct Everything offers so much more. Although you can take the course at your own pace, you get valuable tips from the beginning. Most students applied the information right away and saved more before they finished the curriculum.
I encourage you to check it out for yourself. Until next time, keep saving with tax strategy tips from the best tax source on the market, Cofield Concepts.