Lower Your Taxes - Big Time 2011-2012 4/E

by Botkin, Sandy

• ISBN13: 9780071752022
• ISBN10: 0071752021
• Edition: 4th
• Format: Paperback
• Copyright: 2010-11-05
• Publisher: McGraw-Hill

Summary

The classic tax-relief guideupdated to help you save MORE THAN EVER on next year's taxes!"Almost every American can get a raise of $3,000-$15,000 or more annually courtesy of the United States Government." David D'Arcangelo, author ofWealth Starts at Home"Will put thousands of dollars in your pocket every year and teach you, in clear simple steps, how to audit proof your records from the IRS forever." Mark Victor Hansen, co-creator of the #1New York Timesbestselling seriesChicken Soup for the SoulThe amount many people pay in taxes exceeds the cost of food, clothing, lodging, and transportation combined. And with the economic downturn taking an ever-greater toll on small businesses, taxes are a bigger financial burden than ever.Lower Your TaxesBig Time, 2011-2012 reveals all the secrets professional accountants use to slash tax bills by thousands.Written by Sandy Botkin, CPA, and former attorney for the IRS, this informative and engaging book explains how to: Get a yearly subsidy of $5,000 or more back from the IRS Properly document your business deductions Avoid any future audits by the IRS Deduct the equivalent of your child's education, braces, or wedding Take advantage of tax-free fringe benefits available to small businesses

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 Fun;
Chapter 3. How to Turn 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 Incoporate to Shelter Your Wealth
Chapter 9. Finding the Best Corporate Entity for Your Business;
Chapter 10. Forming a Nevada Corporation or a Limited-Laibility Corporation in Nevada;
Chapter 11. How to Eliminate up to 40% of 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 Business
Chapter 13. Fringe Benefits You Will Love, Part 1;
Chapter 14. Fringe Benefits You Will Love, Part 2

Part 4. Miscellaneous Tax Strategies
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 Investors
Chapter 18. Traders vs. Investors
Chapter 19. Scams, Slams and Scams
Chapter 20. The Top 10 Tax Questions

Appendix A: 2009 and 2010 Tax rates
Appendix B: How to Find a Good Accountant
Appendix C: Health Savings Account
Appendix D: What the Economic Stimulus Act Means to You!