Red Flags, Taxes: Your âBill of Rightsâ Keep more of what you make!!!
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Red Flags, Taxes: Your “Bill of Rights”
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Did you know that you have a bill of rights? Probably, but not a “bill of rights” for taxes. Well, there is a “bill of rights” for taxes and as a tax payer, you should be aware of them.
128 Total Videos
Blog Categories accountant (1) dental tax (1)
dental tax advisory (2)
dental tax planning (3) tax (2)
tax advisory (1)
tax planning (1)
Tax Strategies (2) There is an article on the wires today that talks about red flags and why not to do something. If you have read the taxpayers bill of rights “you have the right to pay the correct amount of taxes”. Having the right and knowing how to exercise that right are two different things. Red flags exist because historically the deduction is not taken properly which is with documentation ergo be prepared. The first of the CNN red flags was charitable contributions, for most of us this is not an issue, but for the 300K or higher earners and business owners this is the number one best deduction you can have to lower you AGI. Through conservation easements and historical building easements you can lower your AGI by 50% when approved by congress this year. It is a savvy tool, you will need help but that brings us back to the other tax payer right, the right to representation. Home office Red flag, don’t take no for an answer, we teach you how to document this for a proper deduction, the IRS was having such a hard time they put in an option to take the home office for $5 a sq. ft. this year to make it easy. If you take the later you probably will leave money on the table. Bizarre deductions – is also noted, again there may be a good reason for such things. There are many things under health care that are allowed and may be bizarre, like a swimming pool. For
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some, this is a quality of life thing as it is a form of rehabilitation with a prescription from a doctor. Tax Saving Professionals is not in the business to justify all deductions, but all of us have a way to get a Private letter ruling which is an approval before taking a deduction from the IRS if you think it is bizarre. What we do is consult and provide the best possible interpretation of the tax code to your benefit as it is 73,954 pages long. If all of this is new or news to you, then you might be overpaying your taxes. We service high net worth clients in excess of $200k per year. Please leave a comment if you would like more information. Category: dental tax, dental tax advisory, dental tax planning
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©19992015 Dentaltown, L.L.C., a division of Farran Media, L.L.C. • All Rights Reserved 9633 S. 48th Street Suite 200 • Phoenix, AZ 85044 • Phone: +14805980001 • Fax: +14805983450 Email Administrator: [email protected] WWW.DENTALTOWN.COM WHERE THE DENTAL COMMUNITY LIVES® Communities: Dentaltown | Hygienetown | Orthotown
Farran Media 2015 media kit terms of use privacy policy contact us
message boards
magazine
continuing education
Search
Entire Site
blogs / podcasts
classifieds
events
my profile
help
more
Quick Links
Are you a dentist or hygienist? Click here to vote today in the Townie Choice Awards!
blog home page most recent blog posts
Keep more of what you make!!!
most popular blog posts create / edit your blog
JeffreyJunek
blog terms of use Pay less in taxes!!!! Search
Total Blog Activity
Home > Blogs > Keep more of what you make!!! > Blog Post
452 manage blog posts
new blog post
edit blog post
Total Bloggers
2,507
Red Flags, Taxes: Your “Bill of Rights”
Total Blog Posts
210
5/15/2015 7:23:42 AM | Comments: 0 | Views: 15
Total Podcasts
Report Post
0
0
0
Google +
0
0
Did you know that you have a bill of rights? Probably, but not a “bill of rights” for taxes. Well, there is a “bill of rights” for taxes and as a tax payer, you should be aware of them.
128 Total Videos
Blog Categories accountant (1) dental tax (1)
dental tax advisory (2)
dental tax planning (3) tax (2)
tax advisory (1)
tax planning (1)
Tax Strategies (2) There is an article on the wires today that talks about red flags and why not to do something. If you have read the taxpayers bill of rights “you have the right to pay the correct amount of taxes”. Having the right and knowing how to exercise that right are two different things. Red flags exist because historically the deduction is not taken properly which is with documentation ergo be prepared. The first of the CNN red flags was charitable contributions, for most of us this is not an issue, but for the 300K or higher earners and business owners this is the number one best deduction you can have to lower you AGI. Through conservation easements and historical building easements you can lower your AGI by 50% when approved by congress this year. It is a savvy tool, you will need help but that brings us back to the other tax payer right, the right to representation. Home office Red flag, don’t take no for an answer, we teach you how to document this for a proper deduction, the IRS was having such a hard time they put in an option to take the home office for $5 a sq. ft. this year to make it easy. If you take the later you probably will leave money on the table. Bizarre deductions – is also noted, again there may be a good reason for such things. There are many things under health care that are allowed and may be bizarre, like a swimming pool. For
Blog Archive May 2015 (2) November 2014 (2)
Dentaltown Magazine August 2015 Read Current Issue Subscribe / Renew
Sponsors
some, this is a quality of life thing as it is a form of rehabilitation with a prescription from a doctor. Tax Saving Professionals is not in the business to justify all deductions, but all of us have a way to get a Private letter ruling which is an approval before taking a deduction from the IRS if you think it is bizarre. What we do is consult and provide the best possible interpretation of the tax code to your benefit as it is 73,954 pages long. If all of this is new or news to you, then you might be overpaying your taxes. We service high net worth clients in excess of $200k per year. Please leave a comment if you would like more information. Category: dental tax, dental tax advisory, dental tax planning
Report Post
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0
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Google +
0
0
Comments Add Comment:
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More Like This
Can Hiring your kids be an tax advantage Posted By JeffreyJunek in Keep more of what you make!!!
Keep More of what you make!! Posted By JeffreyJunek in Keep more of what you make!!!
The Tax Implications of Starting a Dental Practice Transition Posted By Brogan Baxter in Four Quadrants Advisory
Townie Perks Location Strategy for the Dental Industry Get REALscore.com Reports & Consulting to assist with crucial Location Strategy decisions. Learn More
Monthly Online Poll Have you purchased a piece of equipment in the last 5 years that you wish you could return? Yes No
Vote
Results
Newsletter Sign Up Get the latest news
Connect with Us Download our Apps
Follow Dentaltown
Follow Howard Farran
Follow Townie Meeting
Your Town(s) Dentaltown
message boards
magazine
townie events
my profile
help
today's active topics today's active cases today's active images today's active polls
read current issue subscribe / renew 2015 media kit submit an article
townie meeting 2015 townie choice awards current webcast events upcoming events
registration information change email change password public profile
forgot password account activation help center frequently asked questions
big threads message board categories my messages
resources
continuing education my ce certificates
townie news wire monthly poll
signature / avatar image gallery email optins
leave feedback
continuing education
advertising info
my online ce information my receipts
member search downloads refer a friend townie perks
magazine subscriptions communities
my recent activity my marked threads my cases my subscriptions my private groups classified ads classifieds home page submit ad
blogs
lecture schedule oneday dental mba
blog home page most recent blog posts most popular blog posts
Howard Farran DDS, MBA
student resources student membership
my ads
©19992015 Dentaltown, L.L.C., a division of Farran Media, L.L.C. • All Rights Reserved 9633 S. 48th Street Suite 200 • Phoenix, AZ 85044 • Phone: +14805980001 • Fax: +14805983450 Email Administrator: [email protected] WWW.DENTALTOWN.COM WHERE THE DENTAL COMMUNITY LIVES® Communities: Dentaltown | Hygienetown | Orthotown
Farran Media 2015 media kit terms of use privacy policy contact us
