Small Business and Investment Real Estate Owners Can Save More Hard-Won Earnings by Reducing Taxes to Legal Minimum

Share Article is on a crusade to help small business and real estate business owners reduce their tax burden. Co-founders Bill Murphy and Julie Halling say that paying more in taxes than you are legally obliged to pay is unprincipled.

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RSS is on a crusade to help small business and real estate business owners reduce their tax burden. Co-founders Bill Murphy and Julie Halling believe that paying more in taxes than you are legally obliged to pay is unprincipled.

“Small businesses exist for the benefit of their customers, their owners, and the owners families.” Murphy said. “Paying more in taxes than is legally owed puts an undue burden on one or more of these three entities.” Fortunately, help for Murphy and Halling in gaining a working knowledge of their small business and real estate taxes, came from Sandy Botkin C.P.A., Esq., a former lead attorney and agent-trainer for the IRS.

According to Halling, spending just a little time becoming familiar with the tax deductions available to small business owners and real estate investors can be the difference between a business that thrives and one that struggles or fails. “There’s no trickery or dishonesty involved in taking a protective tax planning posture,” Halling said. “There are hundreds of good tax laws, enacted by Congress and recognized by the IRS, that have been written specifically for the purpose of growing small businesses.”

If all this seems too good to be true, consider the fact that small businesses currently generate more than 70 percent of the new jobs in the U.S.A. New jobs are the backbone of economic growth in our country. Members of Congress not only have robust economic growth as a primary goal, they also face re-election every two-to-six years by small business job-creators and their new employees. Consequently, it is easy to understand Congressional desire to reward small business creation and growth. These “rewards” come in the form of good tax laws (i.e., plenty of tax deductions) for small businesses and real estate owners.

Murphy and Halling outline 3 simple steps to reducing small business or real estate business taxes:

1. Get familiar with the various tax deductions that are available to you. You don’t need to become a tax accountant or memorize the tax code to do this. What you need is a practical awareness that will allow you to put together a sound tax plan. A sensible tax plan should be equal in importance to a reasoned business plan.

2. Keep accurate, complete, and permanent records of your daily business tax deductions. Why should anyone go through so much trouble? Because this is exactly what the IRS says you MUST provide to them in case of an audit. Without accurate, complete, and permanent records, your deductions will be disallowed and you will owe back taxes plus a hefty fine.

3. Find a tax accountant that shares your tax planning and tax reduction goals. By becoming familiar with the small business or real estate tax deductions that pertain to you and your business, you will easily be able to tell if your accountant is in sync with your objectives. It will also help you develop a partnership with your accountant that is mutually beneficial: you derive maximum benefit from the tax code and your accountant gets complete and concise information from you that will streamline your return preparation (which can, in turn, cost you less).

For Murphy and Halling, learning from tax guru Botkin has proved both educational and entertaining: an unexpected combination given the material. A desired outcome for anyone devising a tax reduction strategy, and hence the number one objective for Botkin, is to achieve a high level of tax audit protection. To maximize such protection, Botkin stays clear of any-and-all “gray-area” or “red-flag” portions of the tax code. He also stresses the use of a tax diary: the best of which provide a visual, daily prompt for all legal tax deductions that require daily documentation.

“The expertise of Sandy Botkin has given us and our small businesses such tremendous financial help,” says Halling, “that we are both proud and excited about passing this information on to our fellow small business and real estate owners.” Adds Murphy, “The biggest misperception we encounter is the assertion that ‘my accountant takes care of my taxes’.” Murphy and Halling both agree that this is like saying ‘my dentist takes care of my teeth.’ Tax planning, like dental care, requires a short daily investment of time and care for maximum benefit.

There are very few tax shelters available to U.S. taxpayers other than small business and real estate ownership. These tax reduction products can empower anyone that has the courage and desire to start a small business, to put these good tax laws to work for them and their families.


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