| Recently, I stumbled across a concept that could | | | | But if you called me and asked the same question, |
| change your financial life. You can call it a paradigm | | | | you'd get a different response altogether. I'd probably |
| shift or a new perspective or just a different way to | | | | pause for a moment and respond "Well, that depends." |
| look at things. | | | | You see, if you and I went to an Italian restaurant and |
| This single concept can save you tens of thousands | | | | ordered Pizza and a couple of beers, the meal would |
| of dollars each year. Its soooo powerful and yet its | | | | be deductible (at the rate of 50%) so long as we |
| completely underutilized. Learning this simple technique | | | | discussed business. |
| can dramatically impact your financial picture. | | | | Same thing with your vacation if you conducted your |
| Tax Deductions the rich use to stay ahead | | | | annual meeting while you traveled. The equestrian |
| I was speaking about tax savings at a seminar and | | | | lessons are deductible as education and the new truck |
| there was a spontaneous outburst of questions. | | | | is deductible to the degree that you use it for business. |
| Can I deduct my health insurance? How about my | | | | Which brings up a key point: It's not the item, it's the |
| new truck? I'm taking horseback riding lessons. Are | | | | circumstances. |
| they deductible? What about my vacation? | | | | Tax Deduction Secrets |
| As we worked through people's list of concerns, it | | | | Most business people and their advisors wrongly focus |
| dawned on me. You've been trained to ask the wrong | | | | on the item (the truck, the lessons, and the trip). The |
| question. | | | | trick is to make your circumstances open the door to |
| Let's suppose you call up your C.P.A. and ask, "Hey | | | | the tax deductions. |
| Lenny, Can I deduct a Pizza? What do you suppose | | | | So, instead of asking "Is this deductible" - you should |
| Lenny's response would be? | | | | start asking HOW is this deductible? Then, all you have |
| He'd probably think you had gone mad - "Are you | | | | to do is create the circumstances that allow for the |
| crazy, he'd say. You can't deduct a Pizza!". | | | | deduction! |
| Tax Strategies | | | | |