Building Your Own Business

American Dream CPA has been saving our clients thousands of dollars year after year since 1986. We are dedicated to providing friendly, accurate, responsive, affordable and convenient tax preparation services to our clients. The reality is that there are two sets of rules under the current tax system:

1.  Business Tax System. This lets a business take all sorts of “ordinary and necessary” tax deductions (including for jets, boats and limousines) before they calculate their taxable income. Then they apply “tax credits” to reduce the tax even further. The result is that corporations pay less than 2% of their total income in federal income taxes.

2. Individual Tax System. This lets you take some tax deductions for interest on your personal residence, some taxes, charitable giving and dependents. The result is that individuals pay over 10% of their total income in federal income taxes.

Therefore, if you want to start saving taxes now, start a business!

The following are some of the other reasons you need your own business now:

• Families are under financial strain and stress because of unemployment, underemployment, taxation, underwater real estate and financial mismanagement by our governments.
• More and more families feel powerless to improve their situation.
• As an employee, you are one resentment or action away from unemployment, probably have an inadequate retirement program and pay a lot of taxes.
• You have been programmed to get a good education, get a good job and then live the American Dream. This does not work anymore.

The American Dream is the promise of prosperity and success based solely on ability and achievement regardless of the circumstances of birth or position.

Building your own business is the best way to achieve the American Dream and to become financially free and independent. We live in the world of entrepreneurship and tax reduction, and we know that it is a far better thing to be the employer than the employee. Whether you already own your own business or are considering starting one and would like to limit your tax liabilities, our training and methods will show you how to earn more income and pay less tax. You can believe that if you establish clear goals and passionately desire, sincerely believe and deliberately act upon achieving these goals, then you will achieve your American Dream.

The rich are already rich and can determine when to earn taxable income and how it is taxed. They hire the most expensive tax professionals and pay the minimum amount of taxes. The poor do not pay income taxes. This leaves the middle class — there are so many of them, and they generally earn income reported on W-2s and are taxed at the highest tax rates. They need their income now and cannot put it off into the future as the rich can.

The tax system creates the second-greatest obstacle to attaining financial independence. The greatest obstacle to attaining financial independence is the limitations we place on ourselves. The key catalyst required to overcome these obstacles is knowledge – the knowledge that "I can do it" and the knowledge of how to do it. To get past these obstacles, we will teach you that you can start and run your own business. We will provide the knowledge, guidance and encouragement you need to earn the income you desire and to save thousands of dollars in taxes.

We will hold your hand as we show you how to get started. We will work with you to help find the best type of business for you. We will evaluate your experience, talents, skills, what you enjoy and what resources you want to commit to your business. Our business experience enables us to counsel you on what business you will have the best chance of succeeding at.

We will show you marketing techniques that work and that you will enjoy doing.

We will show you under what circumstances auto, travel, research expenses, meals and entertainment expenses are deductible. It is our goal to teach you how to maximize legitimate expenses and be sure that they have proper support. The result is that you can lower your taxes with bulletproof deductions.

In addition, you will learn which types of legal entities dramatically reduce your chance of getting audited, and why.

You will learn what advances have been made through modern technology that can simplify record-keeping and make keeping good records tolerable so this obligation doesn’t interfere with making a living.

This does not require much money or hard work. What it does require is that you ardently desire, sincerely believe in and enthusiastically act upon achieving the American Dream. Let us show you how!

See also the following links for additional information:

Startups

Business Strategies

10 Valuable Lessons                        

Tax Strategies for Business Owners