How a Dynasty Trust Can Save on Your Son's #Taxes Later On

Building wealth: that's what business is all about, and all of that effort will transfer over to a new CEO, a relative, our dog, and, yes, even our children. Enter: the dynasty trust, something that the #CBB values quite well in terms of continuing to make the wealth last long beyond your life.

What is a dynasty trust? It's an irrevocable trust, creating that generational wealth and allowing your descendants to benefit from these tax exemptions: estate, gifting, and generation skipping. And it lasts for the ENTIRE LIFE of the trust itself.

The trust can be funded in two different ways — while you're actually alive and kicking, or dead and long gone. Either way, in terms of business finances — if you have stocks, bonds, and even life insurance, or maybe you own some real estate — these are all items that can go into a dynasty trust and literally sit there, growing exponentially to the point that they have no cap. We're talking millions here.

Of course, your assets would be subject to income and capital gains tax unless you live in Texas, Nevada, or Florida — say HELLO to tax savings in that case!

That's where a dynasty trust could make a way for a pretty nice tax shelter — not just for you, but for those carrying on your legacy. Of course, you'd do well to consult with an attorney and sign up with Cloud Based Bookkeeping for more information. Get those taxes figured out and see if it's worth it (it's definitely worth it if you're in one of those three states).

And, of course, check out this link for even more tax shelters to maximize your refund.

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#AssistingRenters Is Your "Safe Space" for #Education

Want to know why? Find out below!

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ShareFollow UsLegally, we have one word that means the most in and out of the courtroom: fair. We look for fairness. Equity. And when it comes to divorce, equity is king, because you definitely want to steer clear of the chaos (especially if you have children). Think about it. Divorce Is Ugly, But With Legal Representation, We Can Make It Work Out This can largely be the case regarding alimony, or spousal support — something you may have to pay to…

The post What Will Alimony Do to Your Tax Return? appeared first on INTERNET LEGAL PLANS.

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Buying Farmland and Some Cows Can ACTUALLY Save You on #Taxes?

It's true — much to the dismay of many of the middle class, and it's sneaky. But thanks to a slight loophole in tax law, many of the wealthy have been able to take their massive properties on rural land assessed for millions of dollars, get the "use-value assessment" typically reserved for farmers and obtain a property tax credit.

What then happens? It's that tax credit bringing the value of, say, a $71.4MM valued property down to as little as $290K! They're basically able to have that rural land at such a low cost in terms of property tax that it almost seems like a steal (it is, actually).

You simply need to prove that you live on the acquired rural land. That's it. You don't have to do any farming, tilling the soil, milking cows or maintaining a chicken coop. File your property taxes under this tax credit, and you're golden.

There are many other supposed "tax shelters" out there to help maximize your refund. Just click below! And be sure to sign up with #ITPN  immediately and get your 2-hour tax return filed right away.

The post Buying Farmland and Some Cows Can ACTUALLY Save You on #Taxes? It’s true — much to the dismay of… appeared first on Cloud Based Bookkeeping.

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Honestly, some tactics can be downright disgusting when it comes to so-called “tax shelters” (withholding our approval), and others are so smart that we award such experts the veritable title of successful tax giant, like these smart real estate agents with their write-offs. It’s those worthy masters of tax goodness capable of dispelling the old negative adage that is this: oooooh, have to file the taxes, and pray for a decent return.

Face It: No One Likes to File Their Taxes

It’s honestly a pain at times. You can even pay hundreds of dollars to have a CPA do the work for you, but even then you’re not getting back everything you want in a tax refund. And here’s the reason why the outlook is so negative — not many know what to do about tax credits! Or even how many possible tax credits there are.

True, you have to qualify for a lot of tax credits based on income. But even if you’re a middle-class citizen, play the cards right, sign up with the Income Tax Planning Network at a great price, and you can easily rock it with at least one of these great tax shelters:

• Buying a Home — This is actually a “tax shelter,” saving you money on your return? Yes, it is! Here’s why.
• Avoiding Estate and Inheritance Tax — Definitely discuss with your ITPN expert how this could be possible. Great tax credits here, but they’re only available in some states. Find out which ones right now.
• The 529 College Savings Plan — It blows our mind that many might not even consider this plan as a tax shelter. Think about how thankful your kids would be about this one….
• The Old-Fashioned Retirement Plan — Did you know that your everyday 401(k) could actually benefit your tax return? It’s true. Here’s how it works.
• The Personal and Business Business Income Tax Credits — Think about how awesome it would be to never have to pay any income tax, personal or corporate. It all depends on this.
• Rural Land Investments — Talk with your ITPN expert today and see why a few of your cows on some rural land could save you a ton of money in property taxes.
• The 1031 Exchange — Talk about clever…. You’d have to be a real real estate mogul to take advantage of this tax shelter, and it works. Here’s how.
• The Dynasty Trust — If you’re wealthy, this is one way to benefit your own children for the rest of their lives even without actually giving away any of your property. Find out how that’s possible right here.

These tax shelters could make it feel like the government’s paying you.

But You Won’t Know How to Apply for These Tax Shelters….

Unless you sign up for the Income Tax Planning Network. Take a look at your options. If you own some rural land, who knows…. (you might qualify for that kind of tax shelter). What state do you live in? That might make all the difference. What if you’re getting divorced? Not a problem.

But you won’t know unless you contact us. Sign up today and maximize your tax refund.

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The real estate biz is a tough cage fight where you’ve got to lock the kimura and force a tap-out before you’re knocked to the ground. Make no mistake about it. And when it comes to real estate agents, that iron jaw’s crucial; but what happens when you’re getting hit way too much financially that you don’t know how to keep your wits about you? This is what you do….

You Take Advantage of Your Tax Write-Offs!

Remember: you’re a professional. An entrepreneur. You’ve got a wealth of tax write-offs at your fingertips, and if you’re missing anything, you could be losing out on a lot for your tax refund. Some of these specifics might actually shock you, but we’ve broken it down to four verticals for your to keep in mind, but as always, consult your tax expert with ITPN right now to get the goods on maximizing your refund this year:

• Firstly, Your Real Estate Marketing Can Be Deducted! — Want to know what kind of marketing costs can be deducted? Click here.
• Professional Development? Write That Off as Well. — This is what you need to know about what real estate agents can write off when it comes to their continuing education.
• What? Your Car? You Can Write Off Expenses on Your Car? — Absolutely! Here’s a quick list of the write-offs real estate agents can utilize on their tax refunds regarding personal transportation.
• Your Business Can Actually Be a Write-Off, Too — Running a business can cost a ton of money, no doubt. But keep this cheat sheet in mind, and that tax refund should make up for a lot!

Work on Your Ground Game as Real Estate Agents, and the Battle’s All Yours to Win

You’re a professional. You utilize social media to maximize your visibility. Your investment brings in lead after lead. It’s time to get some more back for all your hard work. How do you do it? You use this ultimate tax write-off guide for real estate agents. Sign up immediately for more information about what you need to do with your taxes and get your year started off on the right foot.

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So, listen — ITPN won’t bash. We won’t ridicule, although our country’s known for plenty of political and celebrity satire (how about that comb-over?). But Donald Trump does know the ins and outs of business and finance in a big way, so far be it from us to criticize the Donald for something as grand a scale as this new tax plan he’s proposing as a bid to increase his candidacy on the Republican side.

But we’ll play devil’s advocate here…. It’s only fair. You want to know what’s up with Donald Trump and his new tax plan? Here’s some inside interpretation and speculation about what can happen to you if the Donald’s elected and proposing this new tax plan:

Donald Trump and His New Tax Plan: Huge, Expensive…. And Risky

As Donald Trump would say, you’ve got to think “big.” And this tax plan of his is definitely big. There are a few problems that could arise from implementing this tax plan, although on the surface it does sound good. For starters….

• Will It Benefit the Job Economy? Donald Trump Says Yes — We honestly say ‘no’. At least for many Americans at a certain tax bracket. Want to know why the job economy will suffer? Click here.
• This Will Be a Tax Plan Costing Trillions of Dollars! — Think about it. Tax revenue is necessary for the government to operate. Why will this plan cost trillions? Find out for yourself….
• Everyone Gets a ‘Piece of the Pie’ — Sure, it sounds good to share the wealth, so to speak; but, honestly, you have to know: when it comes to taxes, you can’t please everyone (and you shouldn’t — or can you?).

We Understand, Donald Trump: You Want to Please Everyone

After all, everyone pokes fun at you — the cost of being in the public life as a candidate for, well, public office, and for several other figures in today’s news. Sure, he ends up looking like a whiny baby, and truth be told…. The man might have something here.

That tax plan looks very much like your typical GOP plan with the standard tax cuts and deduction limits you’d expect, but when you learn just by how much this tax plan of Donald Trump goes way out there in a black hole of a financial vacuum, you begin to wonder — will we swallow ourselves up in more debt just for the sake of enjoying our money? Are we putting too much faith like Pope Francis in the prospect of people wanting to spend their hard-earned dollars they’ve kept due to personal finance excellence, perhaps stimulating the economy and maybe looking to advance careers? Possibly.

Talk about a financial leap of faith there. Even Ahmed Mohamed sees this as a “clock” that might not ‘work’ like it should…. Want help with your finances and taxes? Click here to make sure your “clock” continues to work!

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Sometimes trust can get you in trouble in huge ways: welcome to the world of identity theft. That’s why when it comes to finances, business bookkeeping, and business, as a CEO you honestly have to be careful, even with someone you know you can trust.

We Repeat: NEVER Let the Intern Use the Credit Card

Don’t let any employee, or even a partner without specific authorization, use the company credit card. Period. The reason being is twofold: you could be dealing with someone who just might run off and open up new lines of credit, tarnishing the credit report, even contacting vendors and totally ruining the company from the ground up; or you could be handing over your credit card to someone who just might lose it, or have it in plain sight for a real identity thief to pull your information and wreak the same kind of havoc. The former situation is the worst-case scenario, obviously, as to why you should never let the intern use the credit card.

It’s basic corporate responsibility to never let the intern use the credit card, because it’s the business credit card. It’s your credit card. Don’t even lend the card to the intern or employee if you happen to be within a few feet of the individual! Always hold onto that piece of plastic and never let it go.

It’s That Kind of Identity Theft That Can Bring the Entire House Down

Ever heard of the “bigger they are, the harder they fall?” That’s the case here with identity theft. But if you never let the intern use the credit card, eliminating any risk of misplacement or crime, you ensure that your assets and funds, as much as they may be, will never be utilized to falsify anything.

Seriously, you can easily fall prey to something like student loans taken out in your name from 30 years ago, all because you happened to lend your credit card to someone for just a few minutes. And the result is your loans will garnish your entire 2-hour tax return, and the only way to get you out of that jam is to locate the written documents from all those years back, proving you’ve never took any loans out in the first place.

Talk about a massive domino effect.

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Sheep: that’s what they all are, right? The 9-5’ers, the grateful “baa baa’s” of the mindless workers punching in and punching out. You can imagine, though, that those sheep would love to break out of the mold and leap the fence. To what end, though? How about starting a business?

Stаrting a business is one оf the bеѕt things you can dо tо ѕесurе your financial futurе аnd independence. A buѕinеѕѕ оf уоur оwn iѕ оnе оf thе best wауѕ to еnjоу finаnсiаl freedom аnd turn your passion оr hobby into a lucrative еаrning орроrtunitу. Ask any sheep about whether or not they’d love that!

Things to Consider Before Stаrting a Buѕinеѕѕ

Whether уоu are ѕtаrting a buѕinеѕѕ on a part-timе оr full-timе bаѕiѕ, it is important to consider a fеw thingѕ firѕt. One оf thе mоѕt crucial aspectѕ tо соnѕidеr iѕ whаt type оf business уоu аrе mоѕt comfortable with.

Onе оf thе mоѕt imроrtаnt thingѕ whеn starting a business iѕ tо start a buѕinеѕѕ thаt is a rеflесtiоn оf уоur оwn interests. Stаrting a business thаt is bаѕеd around аn аrеа in whiсh уоu have expertise саn grеаtlу rеduсе thе learning сurvе and inсrеаѕе уоur сhаnсеѕ for ѕuссеѕѕ.

Aftеr аll, you will аlrеаdу have to lеаrn the inѕ and оutѕ оf running a business; starting a buѕinеѕѕ based аrоund a fаmiliаr ѕubjесt can mаkе gеtting thаt buѕinеѕѕ оff thе ground a grеаt dеаl easier.

Research the Avаilаbilitу of Smаll Business Lоаnѕ

Whеn it соmеѕ tо ѕtаrting a nеw business, it iѕ imроrtаnt to ѕееk out thе financing аnd hеlр tо which уоu are entitled. Starting a buѕinеѕѕ саn bе an еxреnѕivе proposition, but fоrtunаtеlу thеrе iѕ рlеntу of help аvаilаblе, in thе fоrm of grаntѕ, lоаnѕ аnd оthеr орроrtunitiеѕ.

It iѕ a good idea to thоrоughlу research thе аvаilаbilitу оf small buѕinеѕѕ loans аnd finаnсing before уоu start up thаt nеw buѕinеѕѕ, or else your endeavor would be like a wolf in sheep’s clothing. Don’t get caught up in that.

Cоnѕult With a Tax Advisor and an Aссоuntаnt

Give yourself props for consulting with a tax аdviѕоr аnd аn ассоuntаnt bеfоrе starting thаt new business.

A gооd tаx аdviѕоr саn hеlр уоu reduce уоur tаx burden whilе thе buѕinеѕѕ gеtѕ gоing; while аn ассоuntаnt саn hеlр уоu ѕtruсturе уоur business in a wау that will mаximizе profit роtеntiаl, increasing thе сhаnсеѕ fоr ѕuссеѕѕ.

Writing a Buѕinеѕѕ Plan

Before уоu ѕtаrt уоur buѕinеѕѕ, it iѕ a good idеа tо writе a business рlаn. Thе buѕinеѕѕ рlаn is оnе of the mоѕt imроrtаnt dосumеntѕ уоu саn have when starting a buѕinеѕѕ.

Sеt Yоurѕеlf Frее Frоm thе Ninе Tо Fivе

Stаrting a buѕinеѕѕ is not аn easy рrосеѕѕ, but it саn bе аn important ѕtер tоwаrd gеtting thе finаnсiаl freedom you have аlwауѕ ѕtrivеd fоr. Starting a buѕinеѕѕ of уоur оwn can bе a great way tо achieve ѕuссеѕѕ аnd ѕеt уоurѕеlf frее frоm the nine-tо-fivе wоrld and cease to be just a sheep.

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