Tax deductions and right offs are synonymous terms, and they basically mean any expense that is ordinary and necessary for you to operate your business, you can right off on your income. A lot of people's personal expenses john immediately become a tax deductions once they start the business. And when you add all these deductions up, they can lower your taxes by thousands and thousands of dollars. This is way that ocpars can learn how to make or money by investigating horses comferences and things like that, and lower their taxes at the same time.
Carter Cofield is a licensed C.P.A who's goal is to teach entrepreneurs how to live Tax-Free.
Top 3 Value Bombs:
1. Being an entrepreneur, you are creating jobs which stimulates the economy so the government has massive tax breaks for entrepreneurs. The sad thing is, 90% of entrepreneurs have no idea and doesn’t take them.
2. If you’re saving 40% every year on taxes, that’s more money to pass down to your kids, and to future generations. We need to start thinking and knowing that we have more control of our money than we think we do.
3. Every company is entitled to have annual meeting, and it can be wherever and whenever they want it to be. Do business with your friends and/or your family so you can have annual meetings and have fun, and deduct 100% of your trip.
Access a tax-free living ebook that has over 200 tax deductions that all entrepreneurs and business owners can take in alphabetical order. It has a thorough explanation of how to deduct the expense. Get 70% off this ebook by visiting TaxFreeLivingBook.com/FIRE
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