Small Business Owners Miss Out on $$$ Millions
Follow these 5 steps to get a major tax refund this year. You'll get a double bonus reward!
- Source of Funds: You run a great business. You may work at home full time, or have a "side business" for extra income. Many independent business owners don't take full advantage of the tax benefits of business ownership. Follow the steps below and you'll have much more money each year.
- Invest Tax Free: Invest the money into an IRA and/or Keogh plan (qualified retirement savings accounts). Did you know that a small business owner could invest up to $50,000/yr tax free? Tax free investing increases your net returns. It provides more growth and money in your account.
- Call Tax Pros: Contact your Tax Pros advisor to open your retirement savings account. Click here for investment advice on which account and funds are best for you.
- Tax Deductions: Process your tax return with Tax Pros Online. Include our recommended tax deductions listed below.
- Get Your Refund Check Fast: Use e-file and direct deposit to your bank account. our refund can be processed in a few short days. If you are really smart, deposit the funds to your new retirement savings account for extra TAX FREE growth.
Top 3 Tax Deductions for Independent Business Owners
These tips are for independent business owners, contractors, sales representatives, MLM marketers paid on a 1099 basis. Your business income must be paid to you on a 1099 basis (gross revenues). Even if you have a "day job" (W2 basis), you can benefit from these deductions if you have a 2nd income from a "side business". You must have current year income to benefit from these deductions.
- Retirement Savings Contributions: It's the gift that keeps on giving. Every dollar you contribute to your qualified retirement savings account is tax deductible. That's how you start TAX FREE INVESTING. This is much more than a standard IRA. We show you how to invest up to $50,000/yr for retirement and get the full tax deductions you deserve. We help you to setup the right type of retirement savings accounts, and how to invest to meet your retirement income goal.
- Training Seminars & Books: Those seminars and books are expensive. It all adds up to a hefty sum, especially when starting your business. Keep your receipts. Take a tax deduction for total cost of the seminars, training guides and marketing materials. Keep a record of the purchase receipts, seminar agendas and travel itenary with your financial documents.
- Business Activity Expenses: Keep a good record of your business expenses. but it's better to link your expenses to a project or business initiative. (i.e. Q1-Recruiting Drive) If you purchased special equipment (computers, PDA, cell phone), they are great deductions too. Don't forget your professional suits, uniforms, car mileage, meals and travel expenses for client meetings.
Bonus #1
Join the Wealth Builder Club - Platinum program and get your online tax filing for free!
Only our members get their unique, personal code to process their tax return free-of-charge.
Bonus #2
Get your money back... TAX FREE
Follow the top 5 steps completely. Whatever you put as an investment into your IRA investment account will be a deduction. So the money comes right back to you as a tax refund. TAX FREE
You can use it to pay off credit cards, go shopping or better yet...
re-invest in your IRA ---> TAX FREE
FYI,
Many home-based business owners think that they don't have to file taxes for their "side business" income.
WRONG!
If you work as an independent contractor, sales representative or Independent business Owner-IBO), your business revenue income is reported to the IRS. The parent company reports that information to the IRS. So the IRS actually EXPECTS your tax return, with the business income information. That's why your company sends you the 1099 to include with your tax returns.
If you skip filing your taxes, you raise a red flag at the IRS. Too many red flags and you may be penalized or audited.
Don't worry.
Tax Pros will help you clear up any tax issues. But it's always better to do it right from the start. Plus, with the great deductions and investments we show you; you will actually look forward to tax season. It will be like getting a bonus check!
Want to learn more ways to get TAX FREE MONEY?
Contact your personal advisor at Tax Pros.
Email your questions and/or Talk to an advisor
Labels: 2007 taxes, business owner, contractor, IBO, IRA, loans, marketing, MLM, sales rep, tax free investments, tax free money, tax issues, tax refund, tax returns, tax season, wealth builder
posted by Victor Lloyd Smith @ 5:16 PM
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