BLOGS
The Government has a ruthless and complex SYSTEM to take your hard earned profit from you.
Fight back with a system of your own.
Tax Reduction University (TRU) puts a system in your hands that gives you:
EDUCATION about what you should be doing to save money on taxes!
EVALUATION tools to connect the education to your personal situation
EXECUTION steps to take to implement tax savings!
Our blog resources is meant to give you tips, tricks, and introductions to the topics contained in the TRU System!
How to do year end tax planning
Before we get to far, I need to put this on the record: I hate "year end tax planning"... like hate it... with a passion... Why? Oh brother, there are so many reasons why I hate the very...
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9.62% interest that is tax deferred! Not to good to be true...
Through October 2022, you can buy Series I bonds that pay 9.62 percent interest. And you receive that rate for six months from the time of purchase. What happens after that? On November 1, 2022,...
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Self Employment Tax Explained... part 2
Self Employment Tax Explained- Part 2 This is part two of the Self Employment tax explained. If you missed part 1 or want a refresh, you can find part 1 here. The self-employment...
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When Your Income Is Subject to Self-Employment Taxes?
When Your Income Is Subject to Self-Employment Taxes? There are many types of taxes assessed by many different types of government entities. Sales tax assessed on items you purchase from a store...
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Tax Brackets Explained...
To save on taxes I believe you have to first understand how taxes work. And understanding tax brackets and how they work is the starting point. Additionally, understanding that tax brackets apply...
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Crypto and taxes?
Cryptocurrency such as bitcoin is all the rage these days. Crypto is not legal money. It is property, similar to gold. Like gold, its use can result in taxable income. The IRS is concerned that you...
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IRS Increases Mileage Rate to 62.5 Cents Per Mile for Remainder of 2022
Well, there is good news and bad news here. Good news is that the milage rate has increased for 2022. Bad news… it only is effective for the last 6 months. So, from Jan 1, 2022 through...
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Oh crud, I didn’t issue a 1099!
Imagine this: you didn’t issue Form 1099s to your contractors. Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue...
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What's The Deal With $600 and 1099's?
A common tax myth that I have heard is “If I earn less than $600 I don’t have to claim that as income, correct?” That is false unfortunately. The IRS requires that you report ALL...
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The IRS Wants Your Business Profits… And it’s tripling in size to make that happen!
This is insane! The IRS budget for 2021 was just under $12 BILLION and it’s set to grow to $100 BILLION in 2022 under the Biden Administration. WOW!!! The IRS is planning to hire...
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