business deductions

Let’s see - if I post 2 per week of the 300+ business deductions I have, it’s going to take me 3 years to get through these! That’s one of the great things about being a tax strategist. Tax law is constantly changing, everybody’s circumstances are different and there are a dozen versions of every one of these deductions.

It seems to be expense week here at TaxLoopholes. As I’ve already done meals and home office, I thought I’d share the rules for deducting your business travel expenses.

When it comes to taxes there’s one big truth: business and real estate owners get the best tax breaks! When do those tax breaks begin? How about as soon as you start your business!

In this week’s Online Workshop, available exclusively for First Class Lounge members, we’re looking at exactly when your business begins. That’s because your deductions begin at the same time your business does - so knowing when it really begins is important!

For most of us, a car is an important part of our daily lives and is essential to our transportation. But, for those of you operating your own businesses, did you know your car is also a good source of TaxLoopholes?

I’m betting that most of you have heard the wildly-successful advertising campaign, “What Happens in Vegas, Stays in Vegas.” That same idea applies to tax deductions as well!

What’s the point of having a kid if you can’t embarrass them now and then? Our 16 y.o. son David is just back from a trip to Germany to visit family friends. He got into the full experience of Oktoberfest.

Germany and Mexico meet …

What’s the point of having a kid if you can’t embarrass them now and then? Our 16 y.o. son David is just back from a trip to Germany to visit family friends. He got into the full experience of Oktoberfest.

Germany and Mexico meet …

There is a new online workshop every week as part of the First Class Lounge. Remember, these are all part of your membership which costs less than $10/month. And, the first 30 days are free.

The sub-title of Part 2 of this blog series might very well be “Sometimes Doing Good Helps Your Business More Than You Can Imagine.” A complaint I made to my personal mastermind group led to the formation of MMG and eventually fulfilled a long held dream of a family for me. You’d think the story would end there, but it didn’t! The business model got turned inside out by a simple question one Sunday morning.

Questions I get at seminars tend to be in one category - never mind the facts, what is the BEST business structures, what is the BEST accounting software, who is the BEST CPA, etc…

And, the answer is often, “It depends.” But, there is one “almost fits everyone” answer if you’re looking to quickly create cash flow, build wealth and pay less taxes.