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Home » Resources » Articles And Reports » The Gold Club Weekly Report » “Your Business is Your Most Important Tax Shelter” by Lee R. Phillips, JD

“Your Business is Your Most Important Tax Shelter” by Lee R. Phillips, JD

You probably already have a little business. If you don’t have a business, you need one. On our upcoming Webinar, I’m going to show you how to get one, or if you’ve already got a business, I’m going to show you how to get more money out of it.

If you’re not making money with a little business, you need to do something that will turn a little extra coin for yourself. Don’t worry, I can show you how.

The morning news programs today were talking about the million people who are spy shoppers. They make good money being spies pretending to be shoppers. There are literally thousands of things that can be done to create a little business activity and get you more money.

The extra little bits of cash coming in on the side can supercharge your retirement. But, even more important, the little business you setup is one of the most important things you can do to help control taxes.

If you only get a W2, you can’t play many of the tax games. I’ll show you how your little business opens dozens of doors that are closed to most people. I often see situations where people make more on taxes by having a little business than they do selling their widgets or what-evers.

The business runs under a different set of tax laws than you do as an individual. Basically, that gives you the personal tax laws you can take advantage of and an additional set of tax laws you can cash in on.

“Cashing in” on the IRS sounds weird, but if you can make money by knowing the tax laws and taking advantage of them, that money spends just like the money you get from your paycheck.

I guarantee you that you’ll sweat less making money off the IRS then you do in your day job. Yes, the Joe Plumbers of the world can do alright, especially if they know the tax laws, and set-up their little business right.

There are lots of deductions that are available to businesses that individuals can’t take advantage of. The computer, paper, pencils, trips, bookshelf, and hundreds of other expenses suddenly can be expensed.

All of these things will improve your lifestyle and you’ll get a tax deduction when you buy them. Effectively, you will be paying 30% or 40% less for all of those expenses. But, these aren’t just deductions; these are deductions that actually lower your adjusted gross income, which is critical.

On our Webinar, you’re going to see that lowering your adjusted gross income is the most important thing you can do. This is stuff your CPA has never told you about. Why doesn’t he tell you? I’ll answer that question.

Additionally, with a small business, you can establish different retirement plans, benefit plans and other bigger ticket tax plans that individuals can’t have, but businesses can.

All of this effectively gives you more money and a better lifestyle. Remember, it isn’t what you “make.” It is how you live that counts. From an asset protection and tax vantage, you want to live like a king, but not show any assets or income.

You can make all you want and you can control taxes all day long, but if your assets aren’t protected from the potential financial disasters you face, you can lose everything in a second.

Your business gives you tax advantages, and it gives you asset protection advantages. It is basically another “pocket,” you can store assets in. If you get your wallet picked out of one pocket, the money you’ve stuffed in another pocket will still be there.

But, the lawyers set you up on this pocket idea. I’m going to show you how to use the lawyers, not be used by the lawyers.

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10 Responses to “Your Business is Your Most Important Tax Shelter” by Lee R. Phillips, JD

  1. William Allen says:

    As a former tax practitioner, there are many small businesses/sole proprietorships that make more money on the tax deductions than on the businesses themselves.

  2. Tracy Day says:

    we need to expand on this.

  3. Ivana Ilic says:

    How does it work internationaly for tax and asset protection please:
    if a Canadian invests in Washington partnership company, from my selfdirected pension fund rsp/ira, to purchase cash flowing multifamily properies please? I heard that crossboarder business needs a partnership, not llc. Thanks, ivana, vancouver BC

  4. James Noullet says:

    Very good advice, thanks

  5. Cresencio Mandujano says:

    THANK YOU Lee R. how do I get more inf about this

  6. John Rogers says:

    I need to set up my business!

  7. KJ Roberts says:

    Really good

  8. Lynnette Riddick says:

    Great information!

  9. Regina Brown says:

    Great article, where is the webinar located on the Rons Gold Club

  10. Roger & Lu Young says:

    Very good information. Your Business is Your Most Important Tax Shelter tells you everything you need to know about taxes and your biz.

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