Tax Tips - Which Tax Form Is Right For Me?
IRS Tax forms can be confusing.
Am I a 1099 or a W-2.
Do I need an 8832 or a W-7.
What the difference between an "S" corp and schedule "C" income?
Our program is designed to teach you to build lasting wealth. In order to do so, we've got to start with a fundamental principle.
Stop focusing on IRS Tax forms and start focusing on generating income.
I don't mean to be rude, but some people are so hung up on which form to use, they never really get out of the starting gates. So here's my suggestion - get your business making money first and then worry about the IRS forms.
As you build your asset column bigger and stronger, you got to start surrounding yourself with competent advisors. I call this your wealth team. You need a great attorney (or two). You need a financial planner and probably an estate planner. And you need a knowledgeable C. P.A. that is familiar with the tax saving strategies we teach.
The truth is, you should never worry about which IRS forms to use. That's your accountant or C. P.A.'s job. Your job is to make lots of money and then structure yourself so that lawsuits and taxes can't take it away from you.
So, keep your eye on the ball. Stay focused on the right things and let your C. P.A. figure out which IRS forms to use.
All the Best, - Drew Miles
Drew has combined what he learned during formal education, informal education and twenty five years of business experience in the development of programs designed to teach people how to build and preserve lasting wealth. He is an author, teacher and international speaker in the areas of asset protection, and tax saving and wealth building strategies.