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ARE YOU PAYING TOO MUCH IN TAXES?
Every year, millions of Americans pay more taxes than they should. Are you one of them? It's time to stop overpaying and start taking control of your tax bill. In easy-to-understand language, Tax Strategies for Everyone shares expert secrets for minimizing taxes.
You'll discover:
¿ The most common tax traps and how to avoid them
¿ How to use tax credits to lower your taxable income
¿ Why starting a part-time side business is a great way to lower your tax bill
¿ Tips for turning personal expenses into business deductions
¿ How you can transform your home into a tax shelter (and make millions tax-free by moving)
¿ What to do-and what not to do-if you're audited by the IRS
¿ Smart ideas to boost retirement income-and pay zero taxes
¿ The best ways to transfer wealth to your loved ones without triggering income or estate taxes
Tax breaks aren't just for the rich. Whether you're an employee, a freelancer, or a business owner, there are plenty of tactics you can use to minimize
taxes legally and ethically. Packed with expert tips and tricks, Tax Strategies for Everyone will help you lower your tax bill so you can keep more of your
hard-earned money.
List of contents
INTRODUCTION: It Depends ix
CHAPTER 1: Tax Savings Hide above the Line 1
CHAPTER 2: Navigating the Progressive Tax Maze 13
CHAPTER 3: How You Earn Aff ects How You Pay 25
CHAPTER 4: Passive Income: Tax Friend or Foe 39
CHAPTER 5: Getting the Credits You Deserve 57
CHAPTER 6: Look Before You Leap: Which Business Entity Is Right for You? 71
CHAPTER 7: Where Th ere’s a Will, Th ere’s a Write-Off 89
CHAPTER 8: Let the Government Pay for Your Lifestyle 101
CHAPTER 9: Meet Depreciation, Your New Best Friend 135
CHAPTER 10: It’s True: Th e Government Practically Pays You to Invest in Real Estate 145
CHAPTER 11: Don’t Rely on the Government to Retire 163
CHAPTER 12: Heir-ing on the Side of Generational Wealth 177
CHAPTER 13: Who Can You Trust? 185
LET’S WRAP UP THIS SNOOZEFEST 195
GLOSSARY 197
ACKNOWLEDGMENTS 205
INDEX 207
ABOUT THE AUTHOR 213
About the author
ERIC FREEMAN, CPA, MAcc, is a principal at BeachFleischman PLLC, a top 200 national public accounting firm, and serves as the firm's Real Estate Practice Leader. Eric's expertise is in partnership taxation and complex real estate transactions, including exchanges, mergers, consolidations, buy-outs, cost segregation studies, transaction formation, and qualified opportunity zone funds. Eric also has extensive knowledge in international taxation, hospitality, and high net worth. He has written several articles on real estate taxation that have been featured in The Trend Report, Phoenix Business Journal, and numerous other publications. Eric regularly contributes content to multiple YouTube channels, including his own channel, Eric Freeman CPA, and is featured regularly on various podcasts. He offers a unique perspective on real estate taxation from his personal experiences of owning and managing real estate investments, including single-family and multifamily homes, offices, industrial properties, and land. Eric is a graduate of the University of Arizona, where he received a Bachelor of Science in accounting and a Master of Accounting. When he's not working,Eric enjoys snowboarding, poker, hiking, and off-roading.
Summary
ARE YOU PAYING TOO MUCH IN TAXES?
Every year, millions of Americans pay more taxes than they should. Are you one of them? It’s time to stop overpaying and start taking control of your tax bill. In easy-to-understand language, Tax Strategies for Everyone shares expert secrets for minimizing taxes.
You’ll discover:
• The most common tax traps and how to avoid them
• How to use tax credits to lower your taxable income
• Why starting a part-time side business is a great way to lower your tax bill
• Tips for turning personal expenses into business deductions
• How you can transform your home into a tax shelter (and make millions tax-free by moving)
• What to do—and what not to do—if you’re audited by the IRS
• Smart ideas to boost retirement income—and pay zero taxes
• The best ways to transfer wealth to your loved ones without triggering income or estate taxes
Tax breaks aren’t just for the rich. Whether you’re an employee, a freelancer, or a business owner, there are plenty of tactics you can use to minimize
taxes legally and ethically. Packed with expert tips and tricks, Tax Strategies for Everyone will help you lower your tax bill so you can keep more of your
hard-earned money.
