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Great Tax Savings are not about deduction. The Wealthy know how to manipulate the tax law in ways that the Congressional loophole closers never envisioned.
And why not. The one million pages of tax laws has created thousands of innovative tax plans. Each tax reform just creates more opportunity to create wealth via the tax laws.
In this episode, Brian Dooley, CPA, MBT provides a few of the tried and true trade secrets that have been used for more than half a century.
When a taxpayer wants to sell his or her principal residence, and that taxpayer is also the sole owner of a C or S corporation, selling the residence to the corporation offer three benefits.
(1) Cash may be taken out of the corporation tax-free instead of as - dividends. This is because the gain on the sale of a principal residence is excluded from income in an amount not to exceed $250,000 and $500,000 for a joint return.
(2) Assuming the corporation turns around and rents the residence, the corporation has a "cost basis" equal to the appreciated value of the house and, thus, larger depreciation expense than the taxpayer would have had if he or she held on to the house and rented it.
If the corporation is an S corporation, larger depreciation expenses are deducted by the shareholder allowing them to shelter rental income.
And there is more... listen to learn or call Brian Dooley at 949-939-3414.
Good news- President Obama tax and budget deficit plan is full of new Presidential approved loopholes. This broadcasts will explore the biggest tax savings for small business and investors.
I hunted and pecked my way through all 250 pages to select the best for the biggest to the silliest... such as the golf cart energy tax credit.
Tax planning is looking down the road, around the curve, for the next big set of loopholes. Every tax bill that I have seen has had new tax loopholes.
The "Press" will tell you that that this bill has closed abusive loopholes and its is tax reform. However, one parties abuse is the other parties economic incentive.
So, your tax planner goes with the current (as you may know, I am a river rafter in my free time) and does not paddle upstream.
This episode of Tax Talk will cover my favorite loopholes. You will learn how to get the same tax loopholes used by the "Wealthy"
Here are the show notes with my favorite 40 tax saving loopholes.
If you have a question, the call me, Brian Dooley, CPA or text me at 949-939-3414.
Home offices and home base businesses are the new legal tax shelter. With todays powerful home internet services, you can run a major company out of your home.
The Administration is pushing the IRS to recognize the power of a home office and home business. This new policy combined with President Regan small business tax laws provides the blue print to deducting personal interest and home interest as business interest.
New tax law allows a portion of your credit card interest and home mortgage as a business expense.
It is not merely the portion that relates to home office. Oh yes, there is much more. In this episode you will learn about the 1987 tax breaks and how they work with the IRS new home office tax law.
Learn how save taxes by converting your credit card interest and your home loan interest to deductible expenses.
Listen and learn how more innovative tax plans for the cloud computer base and home base business. Amazon provides the best small business cloud system. Here is the link.
Liberty Tax Service es el proveedor de preparación de impuestos de mayor crecimiento. Ahora con oficina en el 3KS6 Ave. Fragoso, detrás de Plaza Carolina. Te invitamos a que nos envies tus preguntas a firstname.lastname@example.org o llames en vivo al 787-220-7646 este próximo jueves 22 de enero a las 4pm.
Easy tax savings with the IRS foreign source rules is a snap with this very short Tax Talk Episode (11 minutes).
Your tax savings is easy with your own controlled foreign corporation. Use the IRS's new web page for your tax planning.
Learn and listen how and then check out the IRS web page.
Here is the link to our web page with these IRS rules.
If you have a question, then call me, Brian Dooley, CPA, MBT at 949-939-3414 or visit our web site.
Did I get your attention? LOL Sorry this show notice is late in coming. Yours truly attended a "candidate forum" tonight (Oct 29) not a debate but a forum. Why? Cause in case you missed it, I'm a county commissioner candidate. No wise or stupid cracks!
So open phones for you all to open that can of worms before this coming Tuesday Nov 4 BS election. The big day we the people are supposed to take our government back. Yeah...right. Did you write to Santa yet?
See something say something....hell we can spew that crap too!
A Great Tax Tool is a related party private annuity and the Tax Court recently made it better.
Seemingly innocent but deadly to the IRS, private annuities have saved taxes since the beginning of the 1900’s.
Something as simple as your controlled foreign corporation funded with your own money provides tax savings and asset protection beyond your wildest dreams (tax dreams that is).
Adding Mitt Romney’s legal offshore structure, your tax savings escalate.
The trick? The trick, as you will learn, is the IRS’s own information return, regulations and a recent Tax Court victory.
Have a question? Then be sure to call in and talk to Brian Dooley, CPA, MBT at (949) 939-3414
in Real Estate
We're joined by John Thomas, the CEO of Deductr - an NAR Reach-sponsored startup that offers an innovative platform to help agents & small-business professionals to easily capture, organize, and itemize tax deductions. Deductr was designed to automate financial tracking, track tax-savings growth over time, avoid missing the tax deductions that you deserve, and helping to eliminate tax-time anxiety.
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Visit Tim & Julie Harris Online
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Tax season is fast approaching and many have already spent their refund before they've actually filed. Today let's talk tax and how to save money. Adryann and I will discuss helpful tips and tools to filing tax and saving your hard earned money. There's always more to learn when it comes to your earnings. Avoid the pitfalls of the itchy hand. Join us for our next episode of Real Talk with Tammie!
With Special Guest Mr. Ashley Jones CPA (Rodriguez, Trueba & Co. PA) www.rtc-cpa.com
and Tamika Byrd CPA
On our very first show of 2015 we are going to discuss how we can support Fair Tax or any bill on the Hill without traveling from the comfort of our homes, and without spending a dime. When HR 25/S 122 are reintroduced in the new congress you can do a lot to help promote the bill and you can be sure Washington will hear you. Your comments will even be archived in the Library of Congress. The tool we will use is Pop Vox and you can be sure Washington will listen because they pay for this information. Just watch the video and find out how; http://vimeo.com/47322106.
Please join us with your questions and comments this Wednesday. We are planning on promoting this effort in a very big way from now until April 15th and we would like to have you be part of the effort. Again, it won't cost you a dime and you will not have to leave home to make a serious difference.
Fair Tax Time is brought to you commercial free each Wednesday evening, 6PM Pacific time, 9PM Eastern, by our host, John Wesley Nobles. You may listen on your computer or on your phone. Dial (619) 393-6478 or, if you’re charged for long disance, use our toll-free line: (888) 436-1206. Just follow instructions when the nice British lady answers.
Show info: Fair Tax Time Radio, Fair Tax Nation, HR25 Fair Tax Review
Please share this show with your friends!
In this episode you will find out some of the worst tax mistakes to avoid and some of the best tax credits to watch out for. Tune in to learn valuable information, stay tuned to learn about the Functional 2 Fabulous Event in GIlbert Arizona coming Feberuary 20, 2015. We will be giving away a promo code!
It's that time of year again, Tax Time. To help you out, and answer your questions, we're hosting our annual TAX show. Today we'll focus on everything Entrepreneurs, Drivers and Owner Operators need to know to get through tax season. We talk about the changes that Obamacare has made to the tax system, the IRS, the taxcode and how to pay the least amount of tax possible (without cheating of course!). We talk about how to plan throughout the year so that you can manage your money and finances accordingly. But we know it's tax season, so we'll also share the immediate actions you need to take.
Listen up to hear the Step by Step instructions and guidelines for tax deductions that you didn't know existed. Let's Truck!
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