|
It's often said that there are two things we can depend on in life: death and taxes. The former will certainly remove all worry about the latter, but until it happens, you have to pay taxes. The Chicago crime king of the 1930s, Al Capone, got away with murder -- literally, but it was not paying his taxes that put him in prison. You can learn how to avoid taxes, you should keep it legal! 1. Having your own home based business can be an excellent tax shelter, if managed properly. The things is, when you work from home, many of the expenses that previously were your responsibility, can suddenly become tax-deductible business expenses. Things like heating, lighting, insurance, water, etc, can all be included. You can't claim the full amount, but you could claim tax deduction on say, 25% of your house, or whatever percentage you use for business. 2. Employ family members. Paying a salary to members of your family is one way to reduce taxes. Get your grown children, or wife, or both, to do simple tasks for you. Give it some thought -- you'll find something legitimate for them to do! 3. You can write off many work-related expenses. And I don't mean just the obvious ones either. Sit down and think about it and you'll be surprised what comes to mind: training, business tools, union dues, depreciation on your cell phone, travel expenses, etc, etc. Remember, there's a difference between avoiding taxes, and evading taxes. The former is legal and the latter will put you in prison, just as it did Al Capone. There are many excellent sources that can tell you more about how to avoid taxes. Seek them out. John Coutts is an experienced author who writes on a variety of popular subjects. Did you find these tips useful? You can learn a lot more about how to avoid taxes from this resource, http://www.3minuteguides.com/avoidtaxes.html
|
