HOW TO PAY LESS TAXES ??? Simply Put... You Are Probably Paying Too Much in Taxes! WE CAN HELP!
Generally, all expenses incurred in the maintaining or expanding of any endeavor intended to make money or increase personal assets are deemed as tax deductible and can be used to lower your overall tax liability.
Example:
* Assume you are in the 20% tax bracket.
* That means that every $100 of business deductions, saves you $20 in taxes or increases your refund by $20.
* Assume you purchased a $5,000 computer for your hobby that provides some income.
Your tax liability goes down by $1,000 and Your refund increases by $1,000.
* Assume you frequently go out to eat with your business partner (wife) weekly and discuss your hobby/business. Those meals are deductible!
* Have a cell phone to contact your customers; for them to contact you? Totally deductible.
Obviously, different businesses lend themselves to different business deductions. The information below will provide a general overview. However...
If you are a working ASN member... every single one of these deductions are legally available to you.
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