Tax Guru Offers
Money-Saving Strategies to Home Based
Businesses
Last year America's small
businesses lost about $185 billion by not taking advantage of the
tax breaks available to them,
according to tax guru Sandy Botkin, a certified public
accountant, tax lawyer and former
legal specialist in the Office of Chief Counsel for the
Internal Revenue Service.
A few of the dozens of Botkin's
tax reduction strategies are:
• If you own two cars, alternate
using them for business from month to month, the
deduction benefits of using two
cars greatly exceed the benefits of using one car.
• Hire your kids to work in your
home based business; not only is the wage deductible, but
the first $4,000 they earn in
1996 is tax free using the standard deduction on their tax return.
• Maximize travel deductions by
sandwiching the weekend between business days; for
example, if you have a business
day or seminar on Friday in Hawaii and another one on
Monday, you can deduct all road
expenses for Saturday and Sunday.
• Deduct dry cleaning when you
get home from a business trip; dry cleaning and laundry are
not only deductible when on a
business trip, but if the clothes got soiled while on the trip,
the first dry cleaning bill when
you get home is totally deductible.
• Learn what the IRS and various
state requirements are to audit-proof records forever and
never worry about them again.
Sandy Botkin CPA, Esq., is the
president of the Tax Reduction Institute (TRI Seminars) of
Germantown, Maryland. He provides
continuing education seminars for real estate
professionals nationwide and is
the author of the acclaimed series, ''Tax Advantages for
Home Based Business" and
"How To Sell More Real Estate Using Tax Knowledge" He is
also the author of the article,
"How to Analyze a Good Network Marketing Opportunity".
You can order either of his
nationally acclaimed tax systems by calling 602-874-1719.
For questions on his seminars,
booking a seminar or getting a copy of his article on
home-based business, call
301-972-3600.
