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  • Actual for You - Tax Tips for 2006 - This Will Shock You

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    This doesn't take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can't even put a price tag on that expense.

    Here is an absolute fact. You will never mak

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    While 90% of the U.S. population is bemoaning the quickly approaching April 15th tax deadline, I am waiting for my gift from the IRS. I big fat refund. How you ask? I take advantage of the one last tax shelter available to the average person. Before I tell you my best tax tips for 2006, I'd like you to be aware of a couple of things.

    First, do you realize that what you pay in taxes each year is your number one expense?! In fact, the average employee works the first five months of the year for Uncle Sam for free. How does that make you feel about going to work January through May?

    Second, most people think the way to have more income is to get another job. Adding a second "job" to increase your family's income is in most cases a bad idea. Especially, if it pushes you up into a higher tax bracket! You basically sign up for even more taxes, increased car expenses, childcare costs, food and clothing costs. This doesn't take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can't even put a price tag on that expense.

    Here is an absolute fact. You will never mak

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    person. Before I tell you my best tax tips for 2006, I'd like you to be aware of a couple of things.

    First, do you realize that what you pay in taxes each year is your number one expense?! In fact, the average employee works the first five months of the year for Uncle Sam for free. How does that make you feel about going to work January through May?

    Second, most people think the way to have more income is to get another job. Adding a second "job" to increase your family's income is in most cases a bad idea. Especially, if it pushes you up into a higher tax bracket! You basically sign up for even more taxes, increased car expenses, childcare costs, food and clothing costs. This doesn't take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can't even put a price tag on that expense.

    Here is an absolute fact. You will never mak

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    s the first five months of the year for Uncle Sam for free. How does that make you feel about going to work January through May?

    Second, most people think the way to have more income is to get another job. Adding a second "job" to increase your family's income is in most cases a bad idea. Especially, if it pushes you up into a higher tax bracket! You basically sign up for even more taxes, increased car expenses, childcare costs, food and clothing costs. This doesn't take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can't even put a price tag on that expense.

    Here is an absolute fact. You will never mak

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    job" to increase your family's income is in most cases a bad idea. Especially, if it pushes you up into a higher tax bracket! You basically sign up for even more taxes, increased car expenses, childcare costs, food and clothing costs. This doesn't take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can't even put a price tag on that expense.

    Here is an absolute fact. You will never mak

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    This doesn't take into consideration the physical and emotional stress added to families by having both parents working outside the home. You can't even put a price tag on that expense.

    Here is an absolute fact. You will never make true steps toward financial independence until you learn how to get your taxes down to the legal minimum.

    So, now I'm back to my top-secret strategy. Drumroll please…Own a home-based business. I am a CPA, and I am here to tell you that if you do not have a home-based business you absolutely need to start one today! I can not overemphasize the importance. The tax system for the "employee" will keep or make you poor. The tax advantages for small business owners are designed to spur economic growth. It can be your ticket to begin creating wealth.

    Conservative estimates say that you can save a minimum of $2,000-$10,000 a year by having even a part-time home-based business. Let's say that having a small business puts $4,000 a year back into your pocket (on tax savings alone) for 30 years and you invest it each year and earn 8%. You will generate over $500,000 just from owning a home-based business. That doe

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