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Need tax writeoff expenses

Discussion in 'General Business' started by denise1624, Mar 26, 2012.

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  1. #1
    I am bringing in a lot of money now, and I mean a lot, but now I have issues on what to invest in since I don't want to pay taxes and NO i don't want to buy a house... any ideas what I should do? Please let me know... is it too late for me this year? If i file taxes, its going to be huge payout to IRS. I need some last minute ideas and every tax attorney is telling me something different
     
    denise1624, Mar 26, 2012 IP
  2. chosenlight

    chosenlight Active Member

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    #2
    You lawyers are telling r all telling something different and your coming here for a unified response???
    You can write off a lot of things car (if ur using it for business) part of ur mortgage or rental for office space, phone Internet e t

    Incorporate and pay yourself
     
    chosenlight, Mar 26, 2012 IP
  3. denise1624

    denise1624 Active Member

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    #3
    I was just looking for a second opinion
     
    denise1624, Mar 26, 2012 IP
  4. sarahk

    sarahk iTamer Staff

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    #4
    If you're paying tax it's a good thing, it means your business is doing well.

    Property Investment probably is the safest way to get some tax writeoffs but the whole thing around negative gearing is very much out of favor right now. If you change your mind talk to the other investors at propertytalk about how to invest safely.
     
    sarahk, Mar 28, 2012 IP