| Go on admit it, you've often contemplated what it | | | | regular job. By having a dedicated area for an |
| would be like to keep most if not all of your | | | | office in your home you can claim a portion of |
| paycheck instead of being fleeced by the | | | | the expenses that would go for such an office. |
| Taxman. It doesn't have to be just a daydream | | | | This could include utilities, computer, internet, |
| because there are many strategies and shelters | | | | property taxes, mortgage or rent payments. If |
| for your hard earned money. Before you get | | | | you use your vehicle you may be able to claim |
| sweaty palms and start looking over your | | | | the portion of costs involved for your business. |
| shoulder to see if Big Brother was watching you | | | | This could include loan or lease payments. By all |
| read an article called Cheating the Taxman, | | | | means check with your accountant for all possible |
| understand it is only a figure of speech. I do NOT | | | | tax deductions. |
| want you to cheat the Taxman. That is against | | | | Your children can also be useful in helping you hold |
| the law and it is called Tax Evasion. What I'm | | | | on to your money. If you have the home-based |
| talking about here is Tax Avoidance or Tax | | | | business you can hire them as employees and |
| Deferment. | | | | claim against their wages. Obviously they have to |
| I know people who think that they are being | | | | be able to do work that is considered valuable to |
| better citizens by paying their full portion of their | | | | the business. You can also consider Registered |
| taxes. In my opinion this is both naive and stupid. | | | | Educational Savings Programs. |
| I've yet to meet anyone who has received a | | | | There are the good old stand-bys like Registered |
| commendation from the government for sending | | | | Retirement Savings Programs and contributing to |
| them more than he or she had to. There are lots | | | | a 401K to siphon off money before taxes. If you |
| of tax shelters available to the public and our | | | | are an American citizen then you'll want to check |
| government put them there. It isn't cheating the | | | | out the IRS Publication 502 for a full list of items |
| Taxman if you take advantage of a policy that | | | | that allow you to save on your taxes. These |
| was developed for your benefit. The wealthy in | | | | categories are designed for self-improvement and |
| our country pay only what they're required to | | | | include things like prescribed weight-loss programs, |
| pay and not a penny more. The poor or | | | | stop-smoking classes, acupuncture, chiropractic |
| uninformed are constantly giving thousands of | | | | care, therapy, braces, and eyeglasses just to |
| dollars in what amounts to be a donation to the | | | | name a few. |
| Taxman. | | | | Not taking advantage of these strategies |
| If you have a home based business you can | | | | guarantees that someone will be cheated and that |
| legitimately claim against your earnings from your | | | | someone will be you. |