The best way to remain positive and focused as to what YOU want!
Tax Tips ~ Ron Mueller!
DON’T FALL FOR THIS SCAM
Email subject line reads:
Tax Refund Number 2009IRS2…
Email text reads:
Dear Applicant, 2009 Recalculation Tax Refund.
After the last annual calculation of your fiscal
activity we have determined that you are eligible
to receive a tax refund of $284.23
DON’T FALL FOR IT! Come on, if the IRS has
money for you, are they going to tell you by email?
I don’t think so. Your email address is about the
ONLY bit of personal data they haven’t (so far)
required us to reveal to them.
MINIMUM WAGE RATE IS NOW
$7.25 PER HOUR — UP 10.7%
You need to know this if you are employing
your spouse or kids to get the tax benefits described
in Ch. 6-7 of “Home Business Tax Savings Made Easy!”
The new federally-established minimum wage rate is
now $7.25/hour. Most states have their own minimum
wage, BUT most employers have to pay whichever
is higher, your state’s rate or the federal rate.
To find out your state’s current minimum wage rate,
visit
www.dol.gov.
Between 3 million and 5 million American workers
will see a pay raise due to this, according to the Labor
Department. That’s a good thing for those employees,
but not so good for their employers, many of whom
are struggling to survive the recession.
Interesting footnote:
The 13 states with the highest minimum wage (all of
which are higher than the new federal new minimum)
have higher unemployment levels than all other 37 states.
GOT REFUND?
Of all tax returns filed so far in 2009 (most of
which were for 2008 income), the IRS says that
79% have gotten refunds, and has computed
that the average refund was $2,675.
Wow! The IRS got religion? Not on your life!
They’ve simply gotten us to overpay our taxes
by an average of $225/month. Then 15 months
later the give it back to us — with no interest–
and we happily brag that we got a refund.
Would you rather have an extra $225 cash in
your pocket every month, or an extra $2,675
cash in your pocket once a year? If you like the
1-time check every April, do nothing; it will
continue coming as before.
But if you’d rather have an extra $50-$60 cash
in your pocket every week all year long, you
could go to your company’s payroll office and
add another 3 “allowances” on your W-4 with-
holding form, and the extra money will show up
in your take-home pay automatically.
(BTW, if you don’t know what I’m talking about, see
Ch 13 of “Home Business Tax Savings Made Easy!”)
DID YOU MISS IT WED. NIGHT?
This past Wed. I held my monthly “Mastering
Tax Savings” tele-briefing, and it was powerful
– if I do say so myself. :- )
I went through a step-by-step checklist of “to-do”
items that will help bullet-proof your tax deductions.
If you’ve missed some of these steps in the first
half of this year (about everyone has) but begin
doing them now, most auditors will cut you some
slack for the things you overlooked Jan.-June.
The briefing was recorded, and you can get it at
www.HomeBusinessTaxSavings.com/new_home/12months.php
Look under “PREVIOUSLY RECORDED CALLS,” and then
click on “July – Making Critical Mid-Year Adjustments.”
COMING SOON TO A COMPUTER NEAR YOU
Mark your calendars NOW to attend a no-cost
webinar on Thursday Aug 6 at 5pm Pacific (8pm
Eastern), and repeated again live on Monday
Aug 17 at 7pm Pacific (10pm Eastern).
This 40-min webinar will provide a thorough
overview of the huge tax breaks passed by
Congress specifically for home-business owners.
Ideal attendees would be (a) prospective home-
business owners, (b) those new to home-based
business, and (c) anyone with a home-business
who thinks he/she may not be getting all the
tax deductions they could qualify for.
Registration will open next week. Visit my web site
then at www.HomeBusinessTaxSavings.com.and
look in the upper-right corner of the homepage.
That’s it for “Tax Tips You Can Bank On.”
10-Years Helping THOUSANDS to SAVE a BUNDLE!
Ronald R. (Ron ) Mueller, MBA, Ph.D.
author of “Home Business Tax Savings MADE EASY!” available
directly from the author at www.HomeBusinessTaxSavings.com.
P.S.
Check out the recording of Wednesday’s call at
www.HomeBusinessTaxSavings.com/new_home/12months.php
If it doesn’t meet or exceed your expectations, we’ll
give you a 100% refund immediately.
That’s it for today’s “Tax Tips You Can Bank On.”
My Mentors Club members have access to more in-depth coverage
of these and other issues, by logging into your account. Not a
Mentors Club member? Click on the “More Info” link at the top of
my homepage at www.HomeBusinessTaxSavings.com.
Ronald R. Mueller, MBA, Ph.D.
Speaker, Business Success Coach & Author of
Home Business Tax Savings MADE EASY!
www.HomeBusinessTaxSavings.com
P.S. –
Don’t forget to register for the Webinars at
www.HomeBusinessTaxSavings.com
