There's 128 Days Left in This Year. If You Have to Pay High Taxes, Do THIS

Cut Taxes By 20-30% With The Free Playbook: https://cclnk.net/yt-V13ZVo Learn more about working with a Tax-Free Wealth Advisor: https://cclnk.net/daq-dflj Timestamps 00:00 You could be working 20 years just to pay taxes 01:46 Turn everyday expenses into business deductions 02:26 Five business deductions people frequently miss 07:24 Earn like an investor, not only an employee 09:24 How business structure changes your taxes 11:06 Five activities the government rewards 14:30 How to prepare for an IRS audit 17:48 The four tests every deduction must pass 25:25 How government tax incentives work 29:27 Reduce taxes while building wealth Tom Wheelwright explains how business owners can legally reduce taxes through proactive tax planning, proper business structures and government tax incentives. This video explains how everyday expenses may qualify as business tax deductions when they have a legitimate business purpose and meet the required rules. Viewers will learn the difference between tax preparation and tax planning and why important tax decisions must be made before filing a return. Tom explains earned income, portfolio income and passive income in simple language for business owners and real estate investors. The video covers home-office deductions, business mileage, vehicle expenses, business meals, travel expenses and continuing education. Business owners will learn why accurate bookkeeping, receipts, calendars, mileage records and supporting documents are essential during an IRS audit. Tom explains the four tests for a business deduction: business purpose, ordinary, necessary and properly documented. The video explores how the tax code incentivizes business ownership, real estate, energy, technology, affordable housing and agriculture. Viewers will learn how tax deductions and tax credits differ and why credits can be especially valuable. This tax-strategy guide is designed for entrepreneurs, investors, real estate owners and high-income earners who want to understand how to legally pay less tax. Tom Wheelwright, Tax-Free Wealth, WealthAbility, tax strategy, tax planning, reduce taxes legally, how to pay less taxes, business tax deductions, tax deductions for business owners, small business taxes, entrepreneur tax strategy, investor tax strategy, real estate tax strategy, passive income taxes, earned income taxes, portfolio income taxes, home office deduction, business mileage deduction, vehicle tax deduction, business meal deduction, business travel deduction, education tax deduction, S corporation tax strategy, S-corp distributions, reasonable salary, 1031 exchange, capital gains tax, passive losses, tax credits, tax incentives, IRS audit, audit protection, tax documentation, business receipts, bookkeeping for business owners, tax preparer versus tax advisor, proactive tax planning, government tax incentives, 30-Day Tax Cut Playbook, Tax Formalities Guide, legal tax reduction, tax code explained, business owner tax tips, high-income tax planning, reduce tax bill, tax advisor, CPA tax advice