Archive for May, 2011

5 Most Common and Costly Tax Mistakes

May 25, 2011 @ 7:58 pm posted by Amanda Han CPA (Taxloopholes.com Tax Strategist)

Mistake #1: Deducting Expenses in the Wrong Place Heard of the phrase all men are created equal? Well, unfortunately, not all tax deductions are created equal. For example, did you know that your travel expenses can save you as much as 50% in taxes or save you ZERO taxes? You may be surprised to hear  Continue

off   read more

The 7 Must Know Factors When Using Independent Contractors for Your Business – Straight from IRS

May 20, 2011 @ 11:35 am posted by Amanda Han CPA (Taxloopholes.com Tax Strategist)

Some of you may be aware that as a business owner, you can save thousands to tens of thousands of dollars each year in taxes and benefits by hiring independent contractors rather than employees. As an employer, you can avoid the paying, withholding, and filing costs each and every year for your independent contractors that  Continue

off   read more

Systems: The Backbone of Your Level Three Business

May 18, 2011 @ 3:33 pm posted by David Finkel (Taxloopholes.com Advisor)

Today I wanted to focus on one of the five key building blocks of building a business not a job: Systems! What Are Systems? Systems are reliable processes and procedures that empower your business to consistently produce an excellent result for your clients or customers.  They are the documented expressions of your business’s best practices  Continue

off   read more

3 Tips to Build Wealth Independent of Your Business

May 11, 2011 @ 3:20 pm posted by David Finkel (Taxloopholes.com Advisor)

Tip One:  Cultivate the skills and experience of investing so when/if you do sell your business, you have the skills to intelligently invest the money. This includes picking a few areas to focus in on to build your “Advantages” in.  Your Advantages include your knowledge, expertise, experiences, contacts, financial resources, etc. For myself, over the  Continue

off   read more

8 Signs You May be Overpaying Your Taxes

May 10, 2011 @ 6:58 pm posted by Amanda Han CPA (Taxloopholes.com Tax Strategist)

Now that tax time is over, do you know where your CPA is? For a lot of tax professionals, May is the month when things slow down in the office. For us, however, the opposite is true. In fact, we are just as busy in May as we have been in the past few months  Continue

off   read more