When Form 8655 Businesses 2024

Music greetings, champs. My name is Chino Seducin, and I'm excited to come to you as the CEO and founder of Your Tax Girl. Many of you know that I am a network marketing professional, and one of my specialties happens to be in the arena of taxes. I help people put together solid strategies that will afford them an opportunity, as home-based business owners, to maximize on the tax code. Moving forward and having a great tax experience, I want to share some valuable information with you. I believe it will allow you to make an informed decision as to why you should be a home-based business owner. I often ask people the primary question: What is the greatest expense you believe you will ever incur in your lifetime? Three answers that consistently stick out are your home, your children, and education. While those are significant expenses, the largest expense you will ever incur in your lifetime is taxes. You pay taxes on just about everything. You pay taxes when you're born and taxes will be paid on you well after you're long gone. I want you to understand that there are two types of tax systems: one for employees and one for business owners. Let's start with employees. Employees are taxed five times before ever receiving earned income. The power of a home-based business is getting employees in a position to lower their tax liability. As a business owner, you are allowed business deductions before paying taxes on your earned income. The US Treasury has put out some amazing information. They have stated themselves that taxes are compulsory payments for which there is no specific benefit received. Think about that for a moment. There is no benefit received from the taxes you're paying. Former IRS Commissioner, Don Alexander's Sen, has...