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Get Incorporated and Grow Rich!. The Objective Save Money! Get Money! Make Money!

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Presentation on theme: "Get Incorporated and Grow Rich!. The Objective Save Money! Get Money! Make Money!"— Presentation transcript:

1 Get Incorporated and Grow Rich!

2 The Objective Save Money! Get Money! Make Money!

3 YOUR PAYCHECK SPEND TAX EARN OF THE AVERAGE TAX PAYER EARN – TAX – SPEND SYNDROME COMPANY GOVERNMENT WHAT’S LEFT YOU $ $$ $ $ TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions

4 $ $ $ $ $YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions

5 40% GOES TO TAXES $ $ $ $ $YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions

6 40% GOES TO TAXES 30% GOES TO INTERESTS $ $ $ $ $YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions

7 40% GOES TO TAXES 30% GOES TO INTERESTS 6% DEPRECIATION $ $ $ $ $YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions

8 We work hard only to bring home 24 % of the dollar TAX FREEDOM DAY is MAY 11 according to The Americans for Tax Reform Foundation That means if all of your salary went to paying off taxes beginning January 1, you wouldn’t bring home a paycheck until middle of May! $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions

9 HBB $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB) COMPANY GOVERNMENT SYSTEM TO WEALTH YOUR EXPENSES DETOUR EARN SPEND TAX THE BUSINESS OWNER’S GOVERNMENT Diane Kennedy, CPA, Tax Strategist and Author “Loop- Holes of the Rich”

10 HBB $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB) 1. Maximize Tax Deductions MAJOR BENEFITS When you maximize your tax deductions You minimize your tax!

11 HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB) PERSONAL: Annual Income : $50,000 Fed & State Tax (35%) Tax: $17,500 SAVE MONEY by minimizing taxes! Would you rather pay $17,500 or $1,500? CORPORATION: Gross Income : $50,000 Expense (80%) - $40,000 Net Income : $10,000 Fed & State Tax (15%) Tax: $1,500 Business Expense

12 “The legal right of a taxpayer to decrease the amount of what otherwise would be his taxes, or altogether avoid them, by means which the law permits, cannot be doubted” U.S. Supreme Court: Gregory vs Helvering, 239 U.S. 465 HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB)

13 2. ASSET PROTECTION HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB) 1. Maximize Tax Deductions MAJOR BENEFITS

14 2. ASSET PROTECTION HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB) 2. ASSET PROTECTION 1. Maximize Tax Deductions MAJOR BENEFITS 3. NEW CREDIT PROFILE

15 ARE YOU IN BAD CREDIT ? ARE YOU IN BANKCRUPTCY ? DO YOU NEED A NEW CREDIT PROFILE ? ARE YOU MAXED OUT ? HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB) 2. ASSET PROTECTION 3. NEW CREDIT PROFILE

16 PERSONAL Social Security # (You own the SS# and the SS# owns you) CORPORATION Fed Tax ID# (You own the corporation, but the corporation doesn’t own you) TRW/Experian, Trans Union, Equifax Dun & Bradstreet DB# GET MONEY thru a business line of credit ! NEW CREDIT PROFILE HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB)

17 If done by Lawyers & CPA’s: $2,500 - $4,000+ Only $1195 CORPORATION SERVICE HBB + 1. Maximized Tax Deductions $ $ $ $ $ YOU TAX Leaks TAX Plugs Mortgage Interests Children / Dependents Charitable Contributions TAX Plugs 157 Congress-Approved Tax Deductions for Home Based Business (HBB)


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