Friday, April 20, 2007

Tax planning for dummies to pay less next year

Employees, get taxed off their income, but Companies get taxed off their profits. (income less expenses). See the big difference?

Some smart people realized this 50 years ago. If employees had a part time home based business, then they too could claim expenses like travel, petrol, tolls, car expenses, internet access, salaries for part time help, phone bills & stationary from their business income.

In the early years of starting their home based business, this business loss can be deducted from their employment income to receive a tax refund.

Most people I have consulted to, save between $1 to 4 thousand yearly on tax planning - not tax evasion!. Enough for a nice holiday, don’t you think?

So if you pay too much taxes, and want to reduce it, contact me and I can help you get started in a home based business today.

No comments: