There are two types of tax payers in the world – those that receive tax credits and those who pay for others to receive tax credits. Take advantage of our revenue neutral tax code.
Learn the four resourcses you can provide to pay less taxes and receive more tax credits.
J. Massey here, with CashFlowDiary.com; Just, yet another quick tip about business and real estate.
Hopefully, something you haven't heard, learned, or maybe just a new tweak. Here we go.
Have you ever really thought about what the tax code is about, like taxes?
I know many of us especially in the US, are like, “April 15th, it's coming,” or “April 15th, I missed it.”
Either way it goes, you know that that deadline is coming. You're like, “Man, I hate doing my taxes.” Did you realize it's actually an incentive program in a lot of ways?
They're telling you what to do. Inside the tax code it literally says, “This is what you do to not pay taxes.” Most of the tax code is totally about how to not pay taxes.
There's one line somewhere that my attorneys, legal, and tax people were telling me that says, “All income is taxable unless otherwise noted.” That's one line in there, inside the tax code. What ends up happening is that the rest of the tax code is about how to not pay taxes.
Here's a quick 4 things you can do to pay significantly less taxes in general.
Obviously,you know that I'm not a CPA, but these are the things that I want to share with you that might help you go talk to your CPA in different ways.
Things you may be able to think about to be able to plan a different business or different idea.
There are 4 things that the IRS generally says that you can do to be able to get tax credits or your tax money back.
Number 1 is simply provide food. Providing food is a necessary component for living. If you do that, the government has subsidies and has the ‘ability' to give you your tax money back, tax credits; this is what I'm talking about.
You could provide energy. Many of you know that oil and gas is very popular right now, and energy is something we all need. Providing energy is something that allows you to get access to a lot of the tax credits; get your tax money back.
You can also choose to provide jobs; this is something that's a lot of fun. You create a business, you come up with an idea, you put some structure around it, and you know what you end up doing? You're providing jobs and opportunities for other individuals, and voila; the government gives you tax credits for it, and the ability to go out there and hopefully provide more jobs. Then there's providing housing. When you provide housing, you also get access to more of the information that's available inside the IRS tax code.
Here's the key: If you choose not to do one of those 4 things, what ends up happening is you end up paying for the resources that the people need who are doing those 4 things. The tax code is what is called revenue neutral that means for every tax credit someone else has to pay for it. If you're not the one receiving the tax credit, you're probably the one paying for the tax credit other people are getting.
Why not be on the other side of that equation?
We get to choose because we live in a great country, the USA, where you have the opportunity to choose to be whoever it is you want to be so that you have that option.
If you like information like this and want more, feel free to go to our website at CashFlowDiary.com. You may also want to check us out on our podcast inside of iTunes. Some of you may want to check us out on Facebook or take advantage of our complementary course; it's called Cash Flow Foundation.
It's the beginning of our Cash Flow Creation System that will allow you to never need a job again.