(PRWEB) December 16, 2004
The Constellation Group has provided below a recently completed successful Ten Minute Income Tax Tune-Up. The following Income Tax Savings Worksheet is specific to a husband-and-wife team who run a U.S. based services company together. Gross Income of $3.5M+ for a husband and wife team. Impressive, but all taxable ordinary income. Ouch Â The Tax Man Cometh.
Tax Savings Worksheet
1. Gross Income: $3,551,179.00
2. Gross Business Expenses: $2,512,720.00
3. Net Business Income Before Taxes: $1,038,459.00
4. Combined Income Tax Bracket: 35%
5. Lifestyle Costs - What you spend every year to lead your life. After-tax consumption. Not Tax-Deductible: $412,000.00
6. Reportable Gross Income - Lifestyle Costs divided by the inverse of your tax bracket. (In Florida, your Income Tax Bracket is a maximum of 35%. The Inverse of your bracket is .65. Divide .65 into your Lifestyle Costs, which is #5 above.)
This is the Reportable Gross Income that you must report on your Personal 1040 Tax Return to lead the lifestyle that you have chosen in #5.
Correct Reportable Gross Income on your Personal 1040: $633,846.00
7. Amount available for Pre-Tax Savings (#3 minus #6): $404,613.00
8. Number 7 above x 35% (Combined State and Federal Tax Bracket) This is how much Constellation saved this client in Income Taxes: $141,615.00
Constellation was able to save this above client 35% on their Income Taxes. So we added 35 cents to their original, After-Tax 65 cents. 35 cents on 65 cents is a Tax-Free Cash Flow increase of 54% for our clients. "The client will have needlessly overpaid a huge Income Tax bill Â An appalling and unnecessary waste of a large amount of pre-tax corporate cash", said Fraser Allport, Founder of The Constellation Group. "Income Tax Reduction is The Perfect Business Model Â Tax-Free Cash Flow right to your company's bottom line, Instantly, and Tax Free."
There are Three Rules to remember regarding Income Tax Reduction :
1) Saving a dollar in taxes is the best ROE for your business. Income Tax Reduction is THE singular best method for increasing Cash Flow right to your companyÂs bottom line. The Real Money has known this throughout all of history Â ItÂs all about Income Taxes. Recapturing an otherwise-lost tax dollar, and Getting Liquid with dead money. Turning Taxes into Assets.
2) Hire The Right Team and Proactively Manage Your Income Taxes as The Largest Single Variable Business Expense in your entire life, bar none. The largest bill in your life, by far. And a recurring Expense. Ouch again.
3) Most Business-Owners are Needlessly Over-paying Their Income Taxes. For 101 Bad Excuses, Business-owners do not wring out all the fat from the largest single recurring expense in their entire life, their annual Income Tax bill. Income Taxes are high enough. Over-paying them needlessly is bad business. Over-paying your Income Taxes is an entirely avoidable and inexcusable waste of precious pre-tax corporate cash.
Learn the Congressional Laws that allow Business-Owners to maximize Income Tax Efficiencies for Cash Flow Optimization.
Remember The 3 Rules of Income Tax Reduction:
Learn The Rules. Congress. Courts. The IRS Code itself. Follow The Rules. Hire The Right Team.
Here's Constellation's singular task Â to proactively manage and reduce your Income Tax Costs, every year, for as long as you work. Think of it as Downsizing your Income Tax bill.
Constellation's mantra is simple:
"Stop needlessly overpaying Income Taxes, repeatedly, year after year. Learn about all of the laws that help Business-Owners like yourself. It's that simple Â That's the 'secret' . Drive 55." laughs Allport.
Complete the Ten Minute Income Tax Tune-Up and start saving on Income Taxes by going to http://www.theconstellationgroup.com and scheduling a Free 30-minute phone consultation with Fraser Allport.
About The Constellation Group
The Constellation Group has become a clearinghouse for the finding and sharing of global knowledge about Income Tax Reduction and Asset Protection. Constellation is dedicated heart and soul to providing Service like it used to be. They are romantics when it comes to the eternal ideal of what Service should be. That is why The Constellation Concierge was born, Group's sister company.
"Expect The Impossible" at http://www.theconstellationconcierge.com
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