Ron Caruthers – Slash Your Taxes

Ron Caruthers – Slash Your Taxes

Description of Slash Your Taxes

The Ultimate Guide to Paying Less Taxes on Your Business, Freelance Gig or Side Hustle

If you ask normal people on the street what the best ways to save taxes are, you’ll usually get one of two answers: Your home, or your 401k.

BUT, if you ask any TRUE tax professional that same question, you’ll get the same answer every single time: Owning a business, no matter how big or small.

Why? Because almost all of the tax laws were written for the self-employed individual. Every big business (like Apple, Facebook, or Google) was once a small business that got started in somebody’s dorm, garage or at their kitchen table.

However, most business owners leave THOUSANDS of dollars of savings on the table each years because they do NOT take the time to understand what the rules are….and their accountant is too busy to explain all of the available deductions to them.

Or even a few of them, for that matter……

The tax code is over 77,000 pages long (!!!), but only about 30 of them explain the taxes that you need to pay.

The rest of the 76,970 pages show you all the exceptions to the rules, and how to lower your taxes,

….but most CPA’s focus their time on the 30 pages that say what you have to pay, and NOT on how to save money.

If you have your own business, you need my new course.

This course will show you EXACTLY how to legally maximize every single deduction you are entitled to, so that YOU get to keep more of YOUR money.

Here’s how it works:

Over the course of 8 to 10 weeks, I’ll walk you through every aspect of the tax code that applies to you, and show you EXACTLY how to use it to your advantage, in plain English so you completely understand it, and can implement what applies in your own business to save thousands of dollars at tax time next year.

What will you learn in Slash Your Taxes?

• How taxes work and are calculated in the real world;
• THE number one mistake that will get you audited and in trouble with the IRS, AND how to easily avoid it.
• How to lower your quarterly tax payments;
• Marginal vs Effective tax rates: Why you MUST understand what these terms mean, and how to figure out both of your numbers;
• How to write off the cost of ALL of your travel, even if you fly first class and stay in 5-star hotels;
• Basic types of Entities…. How to choose the best one for you and your situation, and avoid the ones that are more likely to get you into trouble with the IRS;
• The EXACT amount of time you can take on a vacation and write the WHOLE thing off, and what to do if you’re staying longer.
• Cars: Leasing vs. buying: What is best for YOU? (we’ll also cover ‘new’ vs. ‘used’)
• SUVs: Do they still get special tax breaks? Yes and no….what you need to know
• Home office deductions: How to write off a portion of your home the right way.
• Rent out your house and don’t even REPORT the income? YES, if you know the Augusta Rule. I’ll explain exactly how to use it;
• 2nd homes and RV’s: did you know that you can sometimes write these off too?
• Employees: W2 vs Independent Contractors: Which should you choose and how do you document them so you don’t get in trouble with the IRS.
• Paying your kids, both before they turn 18 and after. Different rules for each of these situations and how to apply them so you can take advantage of what I call ‘tax arbitrage.’
• How to maximize the rest of your deductions, both business and personal
• Entertainment and meals: what the tax changes in 2018 mean for this.
• Retirement Plans: The good, the bad, and the ugly: What you should do and what you should avoid.
• How to set up a ‘back-door’ Roth IRA
• Roth IRA alternatives, including the ‘Ultimate’ Entrepreneur’s Roth IRA
• Health Savings Accounts: How to use these to get a triple tax deduction.
• How to legally deduct all of your medical bills as business expenses.
• How to take advantage of ‘tax arbitrage’ by paying other family members. Put as much of your income in the ‘Zero’ tax bracket as possible
• Investment accounts: Why increasing growth in your accounts is a problem that will eat up your returns: How to flatten or reduce your taxes on them instead.
• Capital Gains: How THEY work and the differences between these and ordinary income.
• Tax free exchanges on real estate and retirement accounts: when you should and should NOT use them;
• How to deduct losses when you’re just starting out and have no income.
• How to ‘audit-proof’ your tax returns so you greatly reduce your chances of ever getting a call from the IRS.
• When is the ‘best’ time to file your taxes to minimize your chances of getting audited. Yes, when you file makes a huge difference.
• Should you amend previous years to get money back? If so, how to do it safely;
• When to use a C Corp, S Corp, LLC, or just stay a Sole Proprietor; And when to use more than one entity.
• How to select a tax professional: Questions to ask before you hire there AND how to know if they’re doing a good job
• How the Trump Tax Cuts of 2018 affect your business: opportunities AND challenges, and where taxes are heading in the future.
• And much, much more.

Salepage: Ron Caruthers – Slash Your Taxes

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