There is a Tax Elephant in the room. You know, the metaphorical elephant that no one wants to talk about?
Yeah, that’s it.
The tax elephant is that this tax return your CPA just prepared for you or extended will the last of its kind.
Everything has changed. Why isn’t anyone talking about it? Well, part of it is because we’re all distracted with everything going on in the world at large today and, then our part in it. CPAs have been busy with tax season which is just wrapping up now
And the reality is that NO ONE has a book out about it yet. My new book, “Taxmageddon 2018” is coming out on my website at the end of the month. It will initially be just offered as an eBook. That’s because so much is still changing as the IRS establishes the Act into Code and Regulations. I’ll release the book in print form and Kindle on Amazon by June 2018.
Meanwhile, though, there is something you can do.
Attend our coaching classes. They are the first and third Wednesday of the month, always at 5 pm Pacific. At the last coaching session, we talked specifically about how real estate investors can take advantage of the changes to pay even less tax. We talked about some new deductions for real estate investors and the hidden ‘gotcha’ to watch out for.
This next Wednesday, April 18th, at 5 pm Pacific, I’ll talk about how the new tax Act is specifically going to impact business owners. There are a lot of changes and a lot of wrong information on the internet now. You may have heard that the meals deduction is gone. Not true, but it sure has changed. How about educational assistance? Gone. Unless you do it this way. And then of course, the 20% flow through income reduction. If you still have one type of business structure after learning this information, you’ll give up the 20% deduction.
There are wonderful legal tax loopholes available. And there are some big traps. The 1% are already planning how to use this new taxlaw to pay a whole lot less in tax. What about you? Is this going to be a bonanza or a bust for you?
Make sure you’re signed in for this coaching class! You don’t want to miss it. Here is the link https://www.ustaxaid.com/coaching-program/