Customer Reviews

Lower Your Taxes - Big Time! 2007-2008 Edition

5 star:		(12)
4 star:		(5)
3 star:		(1)
2 star:		(0)
1 star:		(1)

 

 

This book should really be titled "How Small Businesses can Minimize their Taxes." That is the entire focus of the book. (Note that this includes consultants and other types of small businesses.) It covers a lot of topics in an organized manner, giving useable advice and not just concepts.

If you do not have a small business, will this book convince you to do so? Probably not. For example, you can deduct your entertainment expenses - as long as you invite complete strangers over to your house.

If you own or are seriously considering starting your own business, this book is worth getting. If not, don't bother.

I have a business I work from home in network marketing and this book was great for tips on some business expenses that I can use that I currently wasn't. He was very good at detailing all the documentation and record-keeping that you need to back up your expenses to make sure that if you have an audit your expenses will be audit-proof. In most cases, it was pretty easy to understand for the average person to implement some of the strategies right away. I would definitely recommend for anyone that has their own business, especially a work from home type business. I have recommended it to every one of my business partners!

This book will save you thousands of dollars in taxes if you apply the principles. The best part about this book is that everything in here is absolutely legal per the IRS tax code. Grey areas are not included in this book. The author tells you how to bulletproof your records so if you are audited, it won't be a problem. This, along with Sandy Botkin's audio seminars, is one of the best investments I have made when it comes to keeping more of my money.

I have the first edition of this book and found it eye-opening. Its main premise is that, if you start a business (full-time or part-time), you get to deduct a lot of expenses. Of course, this is nothing new at all; in fact, dozens other wealth-building books tell you the same. What this book does have is providing lots of concrete, practical ideas and tips to get you thinking about your taxes creatively - after you started your own business. Because the author had a brief stint at the IRS and is a tax attorney, this book is more "trustworthy" (if that word can be applied to anything a lawyer does!) than most other titles on the market. I liked the first edition enough to have just ordered this current edition. I'll provide a new review when I have thoroughly checked out the new edition. But I think for $12 it should be a good tax book to read.

This is an excellent book for anyone looking to learn about tax strategy, especially if they are looking to offset their W-2 earnings. It's true that the author leans heavily towards starting a business, but he also suggests that this is where the majority of the tax breaks are.

While it may seem that only business owners can benefit from these tax breaks, there is also the suggestion that a side home-based business would satisfy these tax requirements for those high wage earners out there. With so many network marketing companies around, this would be an easy venture for anyone to take on.

I would highly recommend that you read this book with an open mind and consider the possibility of a home-based business as a tax strategy for your high income. If you do, you will definitely reap the benefits of this book and you will do it properly, legally and in compliance with the IRS.

The main focus of this book is that you should do something - anything - from home in order to reap the most tax benefits. It doesn't matter if you sell parakeet toys, write novels, work as a virtual assistant or run a day care. Anything you do from home can great increase your tax savings.

The chapters are laid out very well with step by step instructions, explicit tips, examples to help make the tips more clear, and charts to help explain any number-related items.

You don't have to DO your own taxes to take advantage of this information. You could be using TurboTax, H&R Block or any other tax service you want. They are the ones who FILE your taxes. You are the person who lives in your home 24 hours a day. It is your changes in your own lifestyle which can then reap the many benefits.

Yes, there are some technical details in here about LLCs, S-Corporations and other entities which you might just use once and be done with. Other tips, though, have long term, use-weekly benefits. Ideas about health club dues, mileage logs, even taking photos of your "home office" to document that it really is being used as office space throughout the year are greatly beneficial.

You could even throw a party celebrating 10 years in business, inviting everyone to celebrate, and deduct part of the expenses!

Well recommended for anyone who has considered working from home. The tips will really help you maximize your savings.

The author reveals the big secrete in tax saving - you must set up your own business. The tax laws favors business owners, not worker bees.
The book talks about all aspects of tax saving - the type of expenses that are deductible, how to do record keeping, how to minimize the possibility of audit, etc.
It is a must have for people who wants to save tax.

This book is quite boring, but how many tax books are fun?
At least Sandy does a good job of writing so many goods point for personal business owners to learn and know.
Definitely a handy book.

The 2007-08 edition of LOWER YOUR TAXES-BIG TIME! Has been named one of the best tax guides for small businesses, so any library catering to small business owners seeking only a few select guides must have this reference. It comes from a CPA and former IRS attorney, has been updated to include the latest tax laws and changes, and covers everything from travel and home business expenses to taking advantage of fringe benefits and 'IRS bulletproofing' them to survive any auditor's eye. From income shifting and car expenses to considering the best corporate structure for a business, LOWER YOUR TAXES-BIG TIME is easy to understand and structured to take full, legal advantage of deductions often missed by small business owners.

The first sentence says it all - 'You'd be brain-dead not to start a home-based business'. If you don't act immediately on that, you don't need this book. If you do act - you do! A really useful book. Take action.