Lower Your Taxes - BIG TIME! 2019-2020: Small Business Wealth Building and Tax Reduction Secrets from an IRS Insider

by Sandy Botkin

Overview

The definitive guide for saving thousands on your taxes—completely revised and updated for the current tax year

For 20 years, Lower Your Taxes - BIG TIME! has been the go-to guide for anyone looking to keep more of their money—and give less to the government.

This new edition is more topical than ever and includes all the information you need to know about the latest changes in tax code. A former attorney for the IRS, Sandy Botkin knows all the ins and outs and shows you how to save thousands of dollars, legally and ethically, during tax time. Lower Your Taxes - BIG TIME! 2023-2024 offers proven methods for taking advantage of the tax system to get a yearly subsidy of $5,000 or more back from the IRS―and bulletproof your records forever. Inside you’ll find:

• Advice on properly documenting any business deduction
• Tips on starting a home-based business
• Turning tuition, entertainment, orthodontia, and other expenses into huge deductions
• The new standard deduction for married couples
• Changes to business meal and lease deductions, vehicle purchases, and Health FSA contributions

Whether you’re a consultant, small-business owner, independent contractor, or just an individual seeking to protect your hard-earned nest egg, Lower Your Taxes - BIG TIME! 2023-2024 provides everything you need to make next tax season painless, both emotionally and financially.

Product Details

ISBN-13:	9781260143829
Publisher:	McGraw Hill LLC
Publication date:	12/14/2018
Sold by:	Barnes & Noble
Format:	eBook
Pages:	400
File size:	7 MB

About the Author

Sandy Botkin is a CPA and former Attorney for the IRS who has taught hundreds of thousands of taxpayers how to save on their taxes with his Tax Reduction Institute seminars. One of the most well-known national lecturers in the field of tax reduction and audit proofing techniques, he has toured with Tony Robbins, Donald Trump, and John Grey. Botkin is the author of the audiotape series Tax Strategies for Business Professionals and Tax Advantages of a Home-Based Business.

Table of Contents

Introduction: Rich or Poor—Your Choice

Part 1: Wealth-Building Tax Secrets for Small and Home-Based Business Owners


Chapter 1: Why You Would Be Brain Dead Not to Start a Home-Based Business (If You Don't Already Have One)

Chapter 2: How to Deduct Your Meals and Some Employee Outings


Chapter 3: How to Turn Your Vacation into a Tax-Deductible Write-Off


Chapter 4: Income Shifting and Income Splitting: One of the Greatest Single Wealth-Building Secrets


Chapter 5: How to Turn Your Car into a Tax-Deductible Goldmine


Chapter 6: Home Office: The Misunderstood Key to Saving $15,000 Every Five Years


Chapter 7: Beating the Dreaded IRS Audit


Chapter 8: How to Shield Yourself from the IRS Weapon of Classifying a Business as a Hobby


Part 2: How to Incorporate to Shelter Your Wealth


Chapter 9: Finding the Best Corporate Entity for Your Business


Chapter 10: Forming a Nevada Corporation or a Limited-Liability Corporation in Nevada


Chapter 11: How to Eliminate up to 40 Percent of Your Social Security and Medicare Tax with an S Corporation


Chapter 12: How to Get Assets and Money into a Corporation Tax-Free


Part 3: Every Fringe Benefit Available to Small and Home-Based Businesses as Amended By the New Tax Cuts and Jobs Act Legislation


Chapter 13: Fringe Benefits You Will Love, Part 1


Chapter 14: Fringe Benefits You Will Love, Part 2


Part 4: Miscellaneous Tax Strategies


Chapter 15: The Four Most Overlooked Real Estate Tax Deductions in America


Chapter 16: Making Colleges Less Expensive with Tax Planning


Chapter 17: Tax Planning for Stock and Bond Investments


Chapter 18: Trader versus Investor: The Best Kept Secret Around


Chapter 19: Tax Scams and Other Shams


Chapter 20: Highlights of the New Tax Cut And Jobs Act Legislation


Chapter 21: The Top 10 Tax Questions


Appendix A: 2018 Tax Rates


Appendix B: How to Find a Good Accountant


Appendix C: Health Savings Account


Index