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The Increasing Complexity of the Federal Tax Code

Measured in number of pages in CCH Standard Federal Tax Reporter, a publication of Wolters Kluwer.

In the workshop you will be taken step-by-step
through your Schedule C tax return.
Here is a sample of what you will learn...

  • What single item is the cornerstone in securing multiple deductions for your business?
  • Would you like to double one of your tax deductions without spending any extra money?
    (and you get to have fun doing it!)
  • What would it take to deduct 100% of the costs for every mile you drive? It may be far more feasible that you think with the simple rules we’ll cover.
  • Afraid to claim a deduction for a “Home Office” because of the high audit risk?
    This tip will change everything for you, even if you already have an outside office or place of business outside your home (and you don’t even need to own a home).
  • What is the single most critical item of documentation for your business?
  • I have my bank statements and checks, do I really need receipts?
  • Can I deduct things I buy at the grocery store?
  • Perhaps you don't care to prepare the tax return yourself... learn what you can do to significantly reduce the fee a paid tax preparer may charge you.
  • What is the essential secret to deducting my cell phone for my business?
  • What things can I deduct without spending any extra money? (Have fun with this most intriguing question because it doesn't cost a thing!)
  • I became injured and couldn’t work for three months. Is there any way this can be tax deductible?
  • What is the very best gift to give?
    Be specific as to the reasons why –hint: there’s two reasons why it's the best!
  • What is the very best kind of vacation to take?
  • What are the magic words for ensuring bullet-proof deductions for meals and entertainment expenses?
  • Tired of being allowed to only take the standard 50% deduction for you business meal and entertainment expenses? Learn how to change this so you can claim a full 100% deduction for these expenses in the future.
  • Does the I.R.S.’s “Dutch Treat Rule” help or hurt my ability to take deductions?
  • I already donate to charity and my church, so exactly what is it that I have to do to legally obtain a far better tax advantage for these charitable donations?
  • Can I take the home office deduction if I don’t own a home?
  • I’ve heard taking the home office deduction can be risky… so give me two compelling and specific reasons why I should do this!
  • You've probably been told that deducting the mowing of my lawn and all the landscaping expenses are NOT allowed by the IRS for my home-based business. Learn what the IRS doesn't want you to know about the rules for this and decide for yourself if they work in your favor!
  • Learn how to dramatically reduce your audit risk but still take all the same rightful deductions you were planning to take in the first place.
  • You’re self-employed; you’re in business, right? The live it, and breathe it. You no longer can afford the luxury of seeing your “friends” anymore; not when you start seeing everyone as a source of business referrals. Begin visiting with your lead sources over coffee, sharing a meal, playing golf, going to a movie, etc. and watch these become deductible expenses, but you have to know precisely what to do to survive an audit and make these bona fide deductions!
  • Learn how to put your children, ages 6 to 18, to work in you business. Okay sure, you have to keep timesheets, pay reasonable wages for bona fide services actually rendered, prepare payroll checks to document this, and file all federal and sate payroll tax forms and W2s (Whew!). But the children are exempt from social security taxes, unemployment taxes, and they pay zero income taxes up to $4,850 (2004) and $5,000 (2005) and then pay only a 10% rate (less than your rate!) on the first $7,300. This is thousands of dollars in tax savings!
  • Discover how to take a fully-depreciated asset and turn it into a very useful tax deduction by giving the asset away, then leasing it back to your business.
  • Never take a personal vacation again! Learn how to make every trip a deductible business trip.
  • Simple rules can now turn your vacation home into a deductible business expense.
  • Identify how to get the maximum mileage deduction for your business.
  • Learn how your simple home office can be become the vitally important "administrative office".
  • I’ve know I can deduct a portion of my home’s utilities when I have a home office, but is there a legitimate way to pick a method that could double this deduction for these utilities without jeopardy the I.R.S. will deny it?
  • Maximize the deductibility of your health insurance and nearly all health care expenditures, especially the ones the insurance company refuses to pay for!
  • When does it begin to make sense to save self-employment taxes by incorporating?
  • Know when it makes sense to sell or trade-in your business vehicle.

"You won't believe how much you'll save by taking this class." -- Christel Chmelar

"I thought I knew something about how to do my taxes until I met Greg.
If you are self-employed, you need him!" -- Kristie W.

"I learned a lot more than I expected to. I was hoping for basics
and got good, detailed instructions." -- Beth Loubet

"The information Greg presented was always in concise laymen's terms and he was fantastic at giving understandable real-life examples of how I could save money on my taxes." -- Marilyn Marques

"After taking tax class given by Greg Schroen, I increased my home office deductions by $8,808 over-and-above the way I was going about it in the previous year.  There were some things I had to start doing, but Greg’s class made the process simple, and the direct result was that I obtained a very real cash refund of $2,542!  What I learned far exceeded the cost of his tax class and that knowledge will continue to save me money on taxes for years to come.  In fact, I will be taking the class again this year because I’m now aware there is still more I can do to get an even bigger tax refund this next year, and I’m confident this class will help me do just that." -- S. T.

 

“If you think learning is expensive, try ignorance!”
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Greg Schroen Financial and Tax Services