This is an important
message for anyone who is a stock trader or running a business as a sole
proprietor.
It's nearly tax time
in the US, and if you haven't prepared your return yet, you'll be doing it
soon enough. Unfortunately, it's too late to change what happened last
year, so you'll have to "grin and bear it" and pay up.
Business owners who
aren't incorporated nearly always pay too much to the IRS since they don't
understand how to easily lower their bill through perfectly legal
techniques like business deductions and income shifting.
Plus, with all the
liability lawsuits being filed these days, you are quite literally risking
all the assets you work so hard to build to lawyers and litigants. You
must be incorporated.
I have spent
thousands of dollars last year on accountants, tax advisors, attorneys,
and financial planners trying to figure out how different legal entities
like corporations and LLCs could save me money.
But the other day,
I read an amazing new e-book that explained in layman’s terms how forming
a simple corporation can save the average business owner *at least* $2,000
a year in taxes, and possibly much more based on your annual sales.
And that's BEFORE
any of the corporate deductions that aren't allowed to sole proprietors
like sophisticated retirement plans, medical insurance, and a company
vehicle.
The book is called
The Tax Reduction Toolkit, and you can check it out by going to:
Like I said, 2002 is
over and done with, and it's really too late to do anything about this
year’s taxes.
However, if you
start right now, you can probably save yourself several thousand dollars
(or more) next year by implementing these easy to understand strategies
right now.
