How to Get a Bigger Tax Refund

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Discover a Simple, Fun Strategy to Get a $3,000-$6,000
Increase Your Tax Refund!

How to get a bigger tax refund

No one wants to lose money – especially to Uncle Sam! That’s why when we do our personal income tax returns every year, we look at all possible ways to learn how to get a bigger tax refund.

We want back every penny back as we can possibly get. But in order to get that biggest refund possible, you need to know the best strategies to use to learn how to get a bigger tax refund.

Think about this…

Double 1 dollar 19 times, it equals

$1,048,576.00

Double 1 dollar 19 times with taxes taken out, it equals

$21, 931.15

Sick!!! uh?

There are two types of tax payers … the informed and the uninformed. Being  uninformed is costing the average tax payer $3,000 to $6,000 or more a year in overpaid taxes!

In order to pay fewer taxes, we have to reduce our tax liability to the absolute legal minimum. The best way to do this is by having more tax deductions.

How to get a bigger tax refund

How to get a bigger tax refund and more tax deductions?

If you haven’t looked into the outrageous deductions available to small, home-based business owners, you are leaving your hard-earned money on good ole Sam’s table.

Your goal, and the government’s goal, is for you to make more money. The more money you make, the more money you pay in taxes. It’s a WIN-WIN situation.

The Internal Revenue Service wants to help us to start our business endeavors they want to also help sustain us and our new business until we get traction and start earning big profits.

To help you get up and running, the IRS offers many, many itemized tax deductions to those with a home-based business. Here is a partial list compiled looking at IRS form Schedule C and a few other resources.

  • Mortgage/Rent Payments
  • Vehicle use, expenses, repairs, registrations
  • Travel (includes family vacations)
  • Meals/Entertainment
  • Phones/Internet Services
  • Utilities
  • Depreciation
  • Real Estate Taxes
  • Personal property taxes
  • Insurances
  • Home repairs and maintenance
  • Office Supplies
  • Furniture
  • Computer – equipment, antivirus protection, maintenance, PC programs
  • Business start-up costs – includes all costs of enrollment, such as a direct selling company
  • Business product inventory and supplies – includes business products you may use
  • Advertising
  • Shipping
  • Books, self-improvement materials, training
  • Website and other services
  • Clothing and dry cleaning
  • Gifts

Now, let’s look at ONLY the top five itemized tax deductions listed above. These are the top five deductions nearly everyone and every household has. Also, the list includes the average amount spent on only these top five tax deductions every month:

  1. Mortgage/Rent = $1,550 (American Average)
  2. Vehicle Mileage =  1,200 miles (based on an average of 15,000 miles a year)
  3. Travel /Vacations = $200 average monthly (Based on about $2,000 a year)
  4. Cell Phone/Internet = $200
  5. Meals/Entertainment = $400

Using ONLY the top five tax deductions, this home-based business’ 

Estimated Annual Tax Deduction is:

$20,770.00 a year

(based on a 28 percent tax rate)

The estimated tax savings is:

$484.63 every month

and

 $5,815.60 every year!

And that’s using the top five deductions ONLY. Imagine what would be saved using ALL of the itemized tax deductions available!

Is it costing you to get a home-based business

or is it costing you NOT to get one?

How to increase your tax refund


According to Forbes.com article titled “Benefits of Starting a Home-Based Business,” one of the top three benefits listed is “Deductions of Home Costs on Income Taxes.” Forbes also stated “starting a home-based business allows you many freedoms and flexibilities to grow your business at your own pace, and saves money on many fronts.”

Also, small business losses can lower your overall tax liability. Therefore, how to get a bigger tax refund. This alone is a prime reason to start a small, home-based business.

Rest assured, if we were to ever get audited, the main question the IRS asks is “did we ever intend on making a profit?” Our answer is “of course we do/did!”

If you don’t already have a home-based business, one easy and fun solution is to consider getting involved with a good direct selling company.

Being in and buying direct sales products from a direct selling company is considered a home-based business if you are doing it from home.

Enrollment fees in most direct selling organizations are traditionally inexpensive – a fraction of the cost of starting a traditional, brick-and-mortar business. When you join, frequently you receive as much products as it cost to join. Another perk is you will personally use or consume these great products while also using them as a tax deduction at the same time!

If you are saving $5,815.60 a year, as shown in the example above, you have plenty of money left over, even after enrollment fees and the costs of products you may buy.

For example, lets say it costs $500 to enroll as a representative of a particular direct selling company. You are probably getting $500 worth of product for this fee and this is a first year cost only. Then, lets say, it cost you $80 a month for the products. That’s a total cost of $1,460 your first year. But, as illustrated above, you are now getting back $5,815.60 on your tax refund. So, if you take out the cost to join and the products you used all year, that is a $4, 355.60 gain your first year, and $4,855.60 for each year after.

How to Increase Tax RefundAgain,

Is it costing you to get a home-based business

or is it costing you NOT to get one?

 

The best way to chose a company is find out what kind of products you would enjoy and would like to use on a daily basis.

There is an array of products and companies to choose from animal care products, to products that help you to look years younger, to fine wines. Once you find a company and product you are interested in, be sure to do some research on the company, look into it’s leadership, and see what others are saying about the company and products.

Personally, I chose Nerium International because their age-defying product actually works (and who doesn’t want better, younger looking skin). Also, I used anti-aging skin care products daily already so I didn’t spend additional money every month, and the company has impeccable standards, founders and leaders.

Regardless of what company and product you chose, having one of these small, home-based business’ is one of the best options to how to get a bigger tax refund.

You can:

1.)  Invest a small amount of money now, get a home business or into a direct selling company and investment in yourself and your future.

2.) Deduct the cost to get started as an out-of-pocket expense – which is off-set by the tax deduction and products you get when you sign up.

3.) Increase your itemized tax deductions,  and really grow that business.

4.) By the end of the year, you’re making more money and keeping and getting more back from Uncle Sam – thanks to your new business and the deductions you now qualify for.

Or,

1.) Get into a home business, just enjoy the products and share the products with a few people.

2.) Start managing those expenses and deductions and get a bigger refund at the end of the year.

Either way, you win!

A $6,000 increase in your tax refund is nothing to sneeze at!

I hope you learned more about how to get a bigger tax refund.

To Your Youth and Success,

Tammy Carmical

www.RealResults2020.com

 

 

Find Out How Much Your Losing

Click on the Book and Get your FREE Personal Tax Saving Analysis Report

How to Get a Bigger Tax Refund

Click on the book, complete the form and receive a unique, detailed PERSONAL tax savings analysis tailored just for you and your current lifestyle.

As a bonus, you will also receive a powerful, yet easy-to-read, guide that will introduce you big tax breaks available to home-based business owners, how to qualify for all the breaks, and how to easily keep up with bullet-proof tax records.

 

 

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