eric tippetts

The Two Tax Systems

Their are two tax systems in America — one for the informed, and one for the uninformed. In 1913 when Congress created the income tax, they setup two systems. One system for employees, who get to write-off almost nothing; and the second for employers, which get to write-off almost everything. Since virtually all taxpayers were self-employed, home-business owners (they were mostly farmers), the business tax system received preferential treatment. It hasn’t changed since then!

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  • Home Mortgage Points / Interest
  • Charitable Contributions
  • Property Taxes
  • State and Local Income Taxes
  • Education Expenses
  • Medical Expenses that exceed 7.5% of AGI
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  • Mortgage Interest or Rent
  • Gas, Electric, Water, Trash
  • Cleaning Crews to Dust, Vacuum, Empty Trash
  • Computers, Fax Machines, Copiers, Telephones
  • Paper, Staples, Ink Cartridges, Postage
  • Desks, Sofas, Coffee Tables, and other Furniture
  • Painting, Wallpaper, Carpeting, Repairs/remodeling
  • Cell Phone Bills, Pagers, Palm Pilots
  • Newspapers, Magazines, Books, On-line Media
  • Lunches, Dinners, Ball Games, Theatre Tickets, Health Clubs
  • Security Alarms, Hidden Cameras, Guard Dogs
  • Health, Life, Dental, Vision, Disability Insurance
  • Company Cars (even boats), Airplanes
  • Gifts to Charity, 401k, SEP-IRA, Profit Sharing
  • Contributions to Employee Retirement Plans
  • Lawn Mowing, Landscaping, Snow & Leaf Removal
  • Holiday Cards, Gifts, Postage, Mailing Service, Flyer Delivery
  • Marketing, Advertising, Promotion, Business Development
  • Accounting, Bookkeeping, Legal Fees, Contract Labor
  • Printing, copying, DBA filing
  • Bank fees, Interest expense, Business License
  • Website hosting, Website creation & maintenance
  • Internet Access, eFax, Training, consulting, tax preparation
  • And just about any other expense that is “ordinary and necessary.”

The tax advantages alone are enough to start your own home-based business, but the best part is, that is only the beginning. You can't afford NOT to have a home-based business. Click Here to Request More Info