by Tom Wheelwright | Jun 5, 2014 | Tax Strategy
I recently traveled to New York and visited Central Park. What made the trip even better was it was a business deduction. When it comes to business travel, documentation – particularly your receipts – is extremely important. Travel is one of those areas...
by Tom Wheelwright | May 22, 2014 | Tax Strategy
I ran across this promotion on a recent trip. Most people, particular entrepreneurs, think taxes are cruel because one of the biggest mistakes made by entrepreneurs is not paying enough attention to their taxes. This includes their income taxes, sales taxes and...
by Tom Wheelwright | Feb 19, 2014 | Tax Strategy
You want a really low tax rate? Look to business and hard assets, like real estate and commodities. In many countries, like the U.S., expenses incurred to earn interest income, retirement income and wage income are only partially deductible or not at all deductible....
by Tom Wheelwright | Nov 10, 2013 | Tax Strategy
When I work with clients to create and implement a tax strategy, the result is legally reducing their taxes, but the process includes several steps that actually help them reduce their audit risk at the same time. For example, if my client has a home office, we go...
by Tom Wheelwright | Oct 31, 2013 | Tax Strategy
What does Halloween have to do with taxes? Many businesses will have an office Halloween party today and bring in lunch. This type of expense is fully deductible – even the meal portion. Normally meals are only 50% deductible. Office parties are an exception to...
by Tom Wheelwright | Oct 13, 2013 | Tax Strategy
[hr]The following is from my Weekly Report. You can access the full archive of my Weekly Reports for free in Articles by Tom at Wealth Strategy U.com. Click here to go there now[hr]Meals are one of my favorite types of deductions because they can eliminate tax. If you...
by Tom Wheelwright | Aug 8, 2013 | Tax Strategy
I've been busy updating my online courses for recent changes in the tax law. One of the reasons I love taxes is that the tax law is always changing – with these changes, there is always an opportunity to reduce your taxes. If you have any of the following online...
by Tom Wheelwright | May 28, 2013 | Tax Strategy
There's a new U.S. tax in 2013. Starting January 1, 2013, there's a new tax (the “ObamaCare” tax) in effect. I just released a new video to share how this new tax impacts your U.S. tax planning and why it is even more important to have a tax strategy now....
by Tom Wheelwright | May 17, 2013 | Tax Strategy
This week the news has been all about the IRS scandal. I thought you might want a little of the inside scoop and what it means to you as a taxpayer. The allegation is that IRS personnel intentionally delayed the processing of tax exempt applications during the most...
by Tom Wheelwright | Apr 22, 2013 | Tax Strategy
Remember the fiscal cliff of 2012? The fiscal cliff isn't gone, it's just been delayed. In January 2013, the American Taxpayer Relief Act of 2012 was passed which extended many tax benefits for just a short period of time. This new tax law will impact your U.S. tax...
