3ec05366   
   From: one-if-by-land@concord.com   
      
   "Pat"  wrote in message   
   news:f5b90a87-6b25-4539-a792-a7e13ef5f3b9@c58g2000hsc.googlegroups.com...   
   On Apr 23, 4:52 pm, "Don"  wrote:   
   > "Pat"> wrote   
   >   
   > > Today is tax freedom day, so I guess we've worked hard enough for the   
   > > government for the year. So go ahead and send out your bills tomorrow   
   > > because it's all tax-free from here on in.   
   >   
   > You wish.   
   > You're referring to *Shed Day*, the day the citizenry has shed the theft   
   > burden for the state for the past fiscal year.   
   > Currently that day is in late Nov.   
   > Notice, though, that when you buy gas for your ride in Dec you will STILL   
   > be   
   > getting robbed.   
      
   Gee, you need better tax software.   
      
   An accountant once told me "there is a fine line between tax avoidance   
   and tax minimization -- and tax minimization is legal".  You can go   
   out of your way to minimize taxes but not to avoid them.  So I do.   
   For example, I just picked up a rental property and needed to close   
   quickly so I threw it on my line-of-credit.  Once I have it rented   
   I'll refinance it and put a mortgage on it because I get better tax   
   treatment on Schedule E than I do on Schedule A so I want it off the   
   LOC.  Doing things like that is perfectly legal and reduces your taxes   
   significantly.  That put my "tax freedom day" for the Federal   
   government back in January sometimes.   
      
   If you are paying a disproportionate amount of taxes you should sit   
   down with an accountant and go over your taxes as well as a strategy   
   for future years.   
      
   Just a quick example.  Your office is detached, IIRC.  You should look   
   at whether it is more advantageous to have your utilities metered   
   separately.  You should look at whether it is advantagous to combine   
   your personal shopping with your business shopping.  Stuff like that   
   racks up after a while.   
      
   Anyway, that's my thought for the day.   
      
   +++++++++++++++++++++++++   
   You need to get up to speed Pat.   
   I'm a designer and a contractor, my whole house is a model, a business   
   expense.   
   Same with my vehicles and everything else I *own*.   
   In fact, I don't own anything at all except the grub in my belly.   
   My business owns everything.   
   And my wife owns my business.   
   Other people own the other things I'm involved in.   
   You see, its NOT how much you *make* but rather how much you *keep*.   
   There IS a difference.   
   Did you ever read my post dealing with parallel identities?   
   Everybody should have one, er, everybody does have one but few people   
   exploit them.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)