Minimize Taxes Strategy
Our First Strategy, Minimizing Taxes is essential because Americans lose about 1/3 of their income to taxes. We help our Associates minimize their taxes by two methods.The first method, Correct Tax Withholding is important because 80% of all employees have too much money withheld from their paycheck for taxes. When too much money is withheld, the employee is unable to use that money.
We help our Associates maximize take home pay and use it for investing or debt elimination. The strategy is amazing, because if an employee increases his take home pay by $500 monthly and invest it at 8% Rate of Return, he will have almost $175,000 in 15 years and over $745,000 in 30 years
If the employee uses the extra $500 monthly for debt elimination, he can pay off a $200,000 mortgage in 14 years and 11 months instead of 30 years. The bottom line is, maximizing take home pay and using it for investing or debt elimination can be life changing.
Our next method for minimizing taxes is Maximizing Business Deductions via a Home Based Business. Home based business owners have access to hundreds of deductions that employees do not. Because our associates are Home Based Business Owners, they have access to hundreds of new deductions. Let’s look at a few examples. Associates buy their cars for personal use, but if they use them in business, some of the expenses become tax deductible. The same concept applies to cell phones, internet access and travel. Associates can also hire their children as employees and pay them tax deductible wages instead of giving them allowances. The concept is powerful. According to the Tax Reduction Institute, the average Home Based Business Owner realizes thousands of dollars in additional tax deductions annually.