1. Create a Business. Make sure it’s in the proper business structure, that you have plans for: (1) A clear exit strategy, (2) How you will fund the business, (3) How you will take money out of it and (4) A strategy to run it in a way that reduces risk for you. Sometimes starting a business is as simple as changing your employment status from an employee to an independent contractor.
2. Discover Your Hidden Business Deductions. It can be a major eye-opener when the first-time business owner discovers all the things that are now tax-deductible. These are the things you used to spend money on anyway. The difference is that they are now deductible. Make sure your Seven Proven Steps plan includes a method for discovering and properly documenting these expenses. This is how the business can give you money tax free.
3. Pay Your Taxes. No kidding. This is part of the overall Seven Proven Steps process. Use proper planning to pre- pay just enough in taxes at the latest possible time. In this way, you can get 0% loans from the government on your tax money. When you have multiple businesses, you can often select when you want to pay taxes and defer into a far distant time.
4. What’s Left Goes Into Real Estate. You might not be able to hit the ideal investment strategy initially of having all leftover business cash go into real estate. But, the more you can put into real estate, without needing to draw anything for personal living expenses, the faster your income will grow. Make sure your real estate investment is done with the proper leverage and through the optimum structures.
5. Real Estate Income Comes Out Tax-Free. A good real estate investment will create cash flow for you. If you have made a good deal, you’ll have cash flow. And, if you have a good tax plan, you’ll pay ZERO TAXES on that cash flow.
6. Buy a House the Right Way. You need a place to live and face it, that’s not an asset that will put money in your pocket. In fact, your home quite likely will be one of the biggest expenses you’ll have. Look for good deals in neighborhoods that are appreciating and make the best deal possible on financing. Make sure you have a contingency plan in case the value drops and your other income goes down. And above all, use the homestead laws and/or a business structure to protect your investment
7. Make Your House Give You Money. The biggest gift that Congress has ever given us is available ONLY for homeowners. The one requirement is that you have to move. You can also take the money out, tax free, from your home to invest in other businesses or real estate properties. It’s a gift – take advantage of all that the IRS allows.

All data provided on this website is to be used for information purposes only. The information contained on this website and pages within, is not intended to provide specific legal, medical, financial or tax advice, or any other advice, whatsoever, for any individual or company and should not be relied upon in that regard. The services described on this website are only offered in jurisdictions where they may be legally offered. Information provided in our website is not all-inclusive, and is limited to information that is made available to and such information should not be relied upon as all-inclusive or accurate.