TAX SEMINAR HIGHLIGHTS

On Saturday Nov. 6, 2008 I attended a 3 hour Teleseminar on how to legally minimize your income tax.  Below are a few highlights.

Supreme Court Decisions / Statements: It’s your constitutional right to arrange your affairs to minimize your taxes.  There are two tax systems in America.  The difference between the two systems is approximately 40-70% in taxes or about $10,000 if you earn $35,000 a year!

Bullet Proof your Tax Returns

The term “Bullet-Proof” does not mean that you will never be audited, but it does mean that if you get a “love note” from your Uncle Sam and your Aunt IRiS suggesting you get together for a little chat, you won’t need to worry about the outcome.

• Compliance with the Internal Revenue Service Guidelines is an absolute. To effectively use the tax system to your advantage requires that business deductions be properly documented. Since the Internal Revenue Service Code exceeds 100,000 pages, there are several areas that conflict and provide opportunity for interpretation and the application of aggressive tax planning strategies.
• The law requires each taxpayer to pay the minimum tax, and any tax paid greater than the minimum becomes a volunteer tax on the part of the taxpayer.
• There is no reason to fear an Internal Revenue Service audit if your tax records are appropriately supported and there is no intent on your part to commit fraud.

What tax documents you need and sample copies of most that you can customize for your particular situation.  How to keep records and what to record.

Begin to file all your receipts in the appropriate category file or write on each receipt the category and file in the appropriate file.  Notice this says “all” receipts.  It doesn’t say all receipts for thing you think you can deduct.  It says all receipts.  You may find out later that you can deduct it.

The IRS allows an individual to take charge and build wealth; “Uncle Sugar” (the government), through the tax code subsidizes every business with tax breaks that allow each American to start a business, hire family members, establish a pension plan to defer income, and travel (plus 130+ other tax benefits).

As far as I know the next one is:
Saturday, December 13, 2008 at 1:00 pm EST (12 noon CST / 11 am MST / 10 am PST)

For more information on the next and future TeleSeminar classes go to www.UnderPaidAndOverTaxed.biz

Also review tax benefits online video at www.UnderpaidAndOvertaxed.com

Thanks, Lowell