1040EZ-er

     When it comes to taxes, companies large and small rely on attorneys, CPAs, or at least an internal accounting department. But, home-based businesses and independent contractors aren’t afforded the luxury of outsourcing their tax management. They must deal with taxes themselves.

     As many ISOs know first hand, dealing with home and business taxes is not only painstaking and time consuming—it’s expensive. All your earnings from the first three or four months of each year can go straight to Uncle Sam.

     There is a company that can fill the need for individuals and small businesses who don’t enjoy the benefit of a staff dedicated to finding the best tax solutions: The TaxPeople. The TaxPeople serves as a partner in home business tax management. They focus on saving money by identifying legal tax deductions that a taxpayer may be overlooking.

     For example, as a home-business owner, you make a lot of business purchases with your before-tax dollars. This is much different than purchasing with after tax dollars, as an individual does. Individuals are taxed on their wages while businesses are taxed on their profits. Therefore, if a business makes money and spends some of that money on business expenses (such as equipment, vehicles, subscriptions, travel, seminars) there are fewer profits, and thus, a lesser tax. This is legal. Think about it. The government wants the economy to do well and businesses to prosper. The TaxPeople can show you how to set up a home business, if you haven’t already, and how you can deduct expenses you may not be deducting now. You can even write off a portion of your utilities and mortgage payment as a business expense.

     If you feel overwhelmed (How do I start a home based business? Does my current business qualify?) the TaxPeople can help. They are available to answer questions, increase deductions, and back you up in the case of an audit.

     The TaxPeople provides a personalized business plan, legal contracts to maximize deductions, and probably most importantly, audit protection. If you are audited, the TaxPeople will step in and deal with the IRS for you. Thomas Steelman, a CPA who worked for the IRS for 28 years is a member of the TaxPeople team. Steelman said, “We have won all cases involving taxpayers and the IRS. We expect to continue to do so.” Steelman continued, “Many times the records and returns of our new members are in shambles. Often, new members don’t have records. Returns are a mess until the taxpayers get in here and learn the system. We have even had success with those hard-to-resolve cases between the IRS and taxpayers because the experts we have representing the taxpayers are extremely adequate counsel.”

     Again, the TaxPeople’s goal is to find legal deductions. This is not an operation run by those with a marginal familiarity with the law and taxes. The TaxPeople’s founder is Michael Cooper, Kansas Co-Chairman of the U.S. Speaker of the House Business Advisory Council for Tax Reform. The TaxPeople team includes former IRS agents, such as Steelman, as well as tax experts, investors, business leaders, attorneys, a former Assistant Attorney General, and Jeff Schnepper, author of Turbo Tax Deluxe, Microsoft Money, and  Microsoft Web Tax Expert.

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