Creating Permanent Tax Savings
Creating Permanent Tax Savings by Tom Wheelwright
Temporary Tax Savings These are the type of tax savings where you save taxes today but must pay them later. In other words, the tax is being deferred. Temporary savings can be helpful in a tax strategy, but even better is….
Permanent Tax Savings These are my favorite type because they eliminate tax!
So how do you create permanent tax savings? Let me first start with a question:
Did You Consider…? Think about the next trip you are taking. Did you consider if it could be a tax deduction?
A. Yes B. No, but I’ve always wondered about this C. No, my tax advisor tells me this is not possible
What Does Your Answer Say About Your Tax Strategy Creating Permanent Tax Savings?
Answer A Congratulations! Your tax strategy is successful regarding travel deductions. Even if it ends up not being deductible, at least you knew to ask the question.
Answer B You are thinking about it and ready to do something different.
Answer C You could be missing out on significant tax deductions resulting in paying too much tax!
Creating Permanent Tax Savings When you are able to turn your current non-deductible expenses into deductible expenses! The secret is knowing to ask the question and knowing what makes a particular expense deductible.
Every dollar you spend is certainly not going to be deductible, but it’s always shocking how many people don’t consider the possibility that an expense may be deductible.
The most successful tax strategies include the possibility that any expense may be deductible. It’s simply a matter of determining how it can be deducted and if that fits with the strategy.
Think about all the different expenses you have when you travel:
Airfare Cabs Hotels Tips Parking Rental cars Meals
The list can go on and on and we all know it adds up. This is why it is so important to look at ALL of your expenses!
Want to Know Even More Ways to Create Permanent Tax Savings? I’m so excited to share this information! I’ve launched my new 5-week teleseminar course. It starts June 9th and I spend the second week on creating permanent tax savings
Behind Every Secret Remember, behind every one of my secrets is knowledge - the type of knowledge that makes you aware of what creates massive tax savings so you begin to see your daily routine a little differently…like how to turn your non-deductible expenses into permanent tax savings!
About the Author
Creating Permanent Tax Savings When you are able to turn your current non-deductible expenses into deductible expenses, you create permanent tax savings! The secret is knowing to ask the question and knowing what makes a particular expense deductible. http://www.ProVisionWealth.com
