Tax loopholes and write offs???

[adrizzle]

I am wondering what are some things everyone uses to write off on their taxes and what are some loopholes you have used or know of? How much do they let your write it off for and what are the conditions? Also, what was the percentage of taxes you had to pay at the beginning? Thanks for all the information, I am trying to learn more about taxes.

[silversurfer]

Seriously, there are rules against bad tax advice, so you may want to take this to a different forum. like a tax forum.

[adrizzle]

I know someone here has to know some stuff.

[radreality]

I know a decent amount of stuff in this area, but I still hire an accountant to keep all my business financials up to date on a monthly basis and a cpa at the end of the year to handle tax filing and assist the accountant throughout the year.

There are way to many variables to actually tell you information. What works for me might not work for you and vise versa. Plus if you are looking for writeoffs, the cost of these services are deductable.

Invest the money into a good accountant and cpa, it might seem like you are paying them more than what they are saving you; but over time they will save you a lot more. Plus its a headache you don't have to worry about.

______________________________
Robert Falk
Business Developer / Investor
Self Help & Success Forum

[David Rocci]

adrizzle: what type of deductions are you interested in learning about? real estate? home owner? business? what type of business are you involved with?

I'm jaded because I own a Liberty Tax Service franchise but the big 3 tax franchises (JH, HR Block, Liberty Tax) all offer free tax classes in the fall. I know our 10-week class begins in early September. It's a free tuition class and the students only pay $99 for books and course materials. It's a great way to learn about taxes for virtually nothing.

But, if you have some more specific questions I will do my best to help you out.

-dr

[Xanifur]

There are legal loopholes in the corporate structure. There are quite a few books on the subject. Go to your local library.