Hit Hard By Taxes This Year You Need To Start A Home based Business Now

When April 15th rolled around this year, did you feel like youd been sucker punched by the IRS? Youre not alone. Millions of Americans shelled out tax money they could have savedif they only had a home-based business. Thats the bad news. The good news is theres still time to significantly lower your 2007 taxes if you act now. Time is of the essence if you want to reap the substantial benefits of running a home-based business. The tax savings are hefty, not to mention the other perks. And its all legal.

Starting a home-based business is one of the smartest things you can do to lower your taxes and save money, says former IRS attorney and best-selling author Sandy Botkin, CPA, Esq. A home-based business allows you to take deductions for expenses you pay anyway. And the benefits are far-reaching for families who are struggling. In this day and age, its nearly impossible for families to survive on one paycheck, but the cost of sending both parents off to work is highboth financially and emotionally.

In his best-selling book, LOWER YOUR TAXESBIG TIME!, Botkin reveals some startling information about the true cost of being an employee. Not only is job security a thing of the past, when it comes to bringing home more of their hard-earned money, workers are fighting an uphill battle because tax laws are working against them. Under recent tax laws employees are shafted more than ever with limits and thresholds for their employee deductions and higher social security tax limits, says Botkin. This results in more households with both parents working than ever before and often, working more than one job. Today many households need three incomes to stay afloat.

Which brings us to another key point from LOWER YOUR TAXESBIG TIME! Botkin urges readers to figure out what it really costs them to work outside of their homes. For example, add up the cost of your dry cleaning bills, lunches, gas, wear and tear on your vehicle and child care and youll probably be disgusted at what you truly clear for net income, says Botkin. Factor in the stress factor of a daily commute, your boss, and the frustration of not spending enough time with your family and its pretty clear that tax savings arent the only benefit to starting a home-based business. The emotional impact on your family can be huge.

Botkin also uses his experience with the IRS to demonstrate why proper record keeping and documentation is an absolute must. I cant stress enough how critical it is to keep proper records, says Botkin. I like to call it bullet-proofing your return.

While most of us would be intimidated reading a book about taxes, LOWER YOUR TAXESBIG TIME! is highly reader friendly. Each concise chapter outlines a specific strategy for lowering your taxes. Botkin explains the rules behind each strategy and he doesnt get bogged down in confusing lingo. His sharp writing style and personable tone clearly explain the distinctions of complicated tax codes. And he uses real-life scenarios and questions. For example, when is a meal a deductible business expense? Or if you conduct business out of town, what part of the trip is deductible?

LOWER YOUR TAXESBIG TIME! can show you:

Why a home-based business can lower your taxes BIG TIME
How to deduct your fun (golf, sporting tickets, movies)
How to turn your vacation into a tax-deductible write-off
How to use income-shifting to save the equivalent of your kids college education
How to understand all the tax planning and credits for educational expenses
The 24 questions you need to ask to evaluate an accountant
How to turn your car into a tax-deductible goldmine
How to beat a dreaded IRS audit
How to incorporate your business to shelter your wealth:
oWhy to form a Nevada corporation
oHow to eliminate up to 40% of your Social Security and Medicare tax
oHow to get assets and money into a corporation tax-free

Botkins extensive experience and knowledge make LOWER YOUR TAXESBIG TIME! a fantastic reference for anyone who wants to pocket the money theyve earned and slash their tax bill.

Hardcover: 282 pages
Publisher: McGraw-Hill
Available at: http://www.amazon.com" target=new> www.amazon.com http://www.barnesandnoble.com" target=new> www.barnesandnoble.com www.borders.com href="http://www.taxreductioninstitute.com" target=new> www.taxreductioninstitute.com


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About the Author:
Sandy Botkin, CPA, Esq. is a best-selling author and former trainer of IRS Attorneys. He is currently the Chief Executive Officer and Principal Lecturer of the Tax Reduction Institute based in the Washington, D.C. area. During the past ten years, he has taught more than 100,000 taxpayers how to save hundreds of millions in new and overlooked deductions. He consistently earns rave reviews for his clear and humorous presentations. He is also the author of REAL ESTATE TAX SECRETS OF THE RICH: BIG TIME TAX ADVANTAGES OF BUYING, SELLING, AND OWNING REAL ESTATE! (McGraw-Hill 2007), a guide showing homeowners how to use their home to lower their taxes. Mr. Botkin is also a member of the Florida Institute of Certified Public Accountants. He is a ‘Distinguished Real Estate Instructor” and is listed in “Who’s Who in Business.”