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PRIVATE PERSONAL TAX LIABILITY MINIMIZATION

Even with the new tax laws, the sting is still present regarding personal income tax. The tax laws may have included a tax cut for the less fortunate, but it is still very complicated and actually still taxes “the wealthy”. The problem is that what the government considers “wealthy” starts at an income of $200,000.00 per year. In today’s economy, we all know that level of income is upper middle class, at best!

Regarding Private Tax Liability Minimization, let’s start by reviewing Income Types.

NON-TAXABLE INCOME

Gifts And Inheritances

Child Support Payments

Welfare Benefits

Court Awarded Damage Awards

Cash Rebates

TAXABLE INCOME

Earned (Active) Income

Passive Income

Bonuses

Business

Contract Income

Wages

Salary

Tips

Commissions

Dividends

Interest

LLC/Partnership Passive Owners

Alimony

Royalties

Retirement Benefits

Annuities

Gifts Over Certain Limits

Some State & Local Tax Refunds

Net Investment Income

Real Estate Income

Based on this list, it is very obvious who the government wants to carry the nation’s tax burden.

Notice which columns contain the most items.

With Private Asset Protection, we can virtually eliminate tax burdens for unearned income. To eliminate earned income tax burdens, please refer to our Business Tax Liability Minimization section.

We have a simple and legal answer for all of these issues.

NOTE: Tax Liability Avoidance IS LEGAL!

AVOIDANCE VS. EVASION

 

Edison California Stores, Inc. v McColgan. 30 Cal 26472.183 P2d 16. ruled that persons may adopt any lawful means for the lessening of the burden of income taxes;

The Department of the Treasury, IRS Handbook for Special Agents § 412, Tax Avoidance Distinguished from Evasion states; “Avoidance of Taxes is not a criminal offence. Any attempt to reduce, avoid, minimize, or alleviate taxes by legitimate means is permissible”.

Pursuant to Narragansett Mut. F. Ins. Co. v. Burnhamun 51 r1371, 154 a 909, It is not an evasion of legal responsibility to take what advantage may accrue from the choice of any particular form of organization permitted by law.

We realize this can all appear very complicated, and, in fact, it is.

But not to worry, we have a solid team of accountants and tax professionals standing ready to assist you and/or your financial team.

Each solution is customized to fit your personal situation.

Please contact us today for a quick consultation.

FOR FULL DISCLOSURE, PLEASE GET YOUR FREE DETAILED E-BOOK!

BUSINESS TAX LIABILITY MINIMIZATION

 

We all celebrate the Permanent Corporate Tax Cut to 21%!

Even with some minor increases and limitations in various deductions and carryovers, this is a fantastic improvement over the previous corporate tax rate of between 34% and 39% (ending in 2017).

This means one of corporations common operating cost has been reduced by as much as 18%!

You and all of your competitors enjoy this tax break.

But, what if you could further reduce your operating cost by an additional 20%?

That would allow you to increase your profits by 10% and still win all the contracts you can execute by confidently and consistently have pricing that is 10% less than your competitor.

Other Benefits We Can Provide:

  • Additional 7.65% by reducing payroll cost for key members when eliminating social security and Medicare withholdings.

  • Additional 7.65% by reducing payroll for key members when eliminating social security and Medicare withholdings from their salaries.

  • Additional savings in operating cost and salary reductions by eliminating income tax and Workman’s Compensation Insurance.

 

There are cost to be saved regarding every form of income listed under the Earned (Active) Income column shown under the Private Tax Minimization section.

We know how to set your business up to give you the competitive edge with the profit margins your competition will never even understand, much less attain.

Please contact us for a brief conversation regarding what the best arrangement is for your particular situation.