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National News

Tuesday, 5 June, 2007 10:31 PM

Hit Hard By Taxes This Year? You Need to Start a Home-Based Business

When April 15th rolled around this year, did you feel like you’d been sucker punched by the IRS? You’re not alone. Millions of Americans shelled out tax money they could have saved—if they only had a home-based business. That’s the bad news. The good news is there’s still time to significantly lower your 2007 taxes if you act now. Time is of the essence if you want to reap the substantial benefits of running a home-based business. The tax savings are hefty, not to mention the other perks. And it’s all legal.

“Starting a home-based business is one of the smartest things you can do to lower your taxes and save money,” says former IRS attorney and best-selling author Sandy Botkin, CPA, Esq. “A home-based business allows you to take deductions for expenses you pay anyway. And the benefits are far-reaching for families who are struggling. In this day and age, it’s nearly impossible for families to survive on one paycheck, but the cost of sending both parents off to work is high—both financially and emotionally.”

In his best-selling book, LOWER YOUR TAXES—BIG TIME!, Botkin reveals some startling information about the true cost of being ‘an employee.’ Not only is job security a thing of the past, when it comes to bringing home more of their hard-earned money, workers are fighting an uphill battle because tax laws are working against them. “Under recent tax laws employees are shafted more than ever with limits and thresholds for their employee deductions and higher social security tax limits,” says Botkin. “This results in more households with both parents working than ever before and often, working more than one job. Today many households need three incomes to stay afloat.”

Which brings us to another key point from LOWER YOUR TAXES—BIG TIME! Botkin urges readers to figure out what it really costs them to work outside of their homes. “For example, add up the cost of your dry cleaning bills, lunches, gas, wear and tear on your vehicle and child care and you’ll probably be disgusted at what you truly clear for net income,” says Botkin. “Factor in the stress factor of a daily commute, your boss, and the frustration of not spending enough time with your family and it’s pretty clear that tax savings aren’t the only benefit to starting a home-based business. The emotional impact on your family can be huge.”

Botkin also uses his experience with the IRS to demonstrate why proper record keeping and documentation is an absolute must. “I can’t stress enough how critical it is to keep proper records,” says Botkin. “I like to call it ‘bullet-proofing’ your return.”

While most of us would be intimidated reading a book about taxes, LOWER YOUR TAXES—BIG TIME! is highly reader friendly. Each concise chapter outlines a specific strategy for lowering your taxes. Botkin explains the rules behind each strategy and he doesn’t get bogged down in confusing lingo. His sharp writing style and personable tone clearly explain the distinctions of complicated tax codes. And he uses real-life scenarios and questions. For example, when is a meal a deductible business expense? Or if you conduct business out of town, what part of the trip is deductible?


  • Why a home-based business can lower your taxes BIG TIME
  • How to deduct your fun (golf, sporting tickets, movies)
  • How to turn your vacation into a tax-deductible write-off
  • How to use ‘income-shifting’ to save the equivalent of your kids’ college education
  • How to understand all the tax planning and credits for educational expenses
  • The 24 questions you need to ask to evaluate an accountant
  • How to turn your car into a tax-deductible goldmine
  • How to beat a dreaded IRS audit
  • How to incorporate your business to shelter your wealth:
  • Why to form a Nevada corporation
  • How to eliminate up to 40% of your Social Security and Medicare tax
  • How to get assets and money into a corporation tax-free

Lower Your Taxes -- Big Time
By Sandy Botkin, CPA, Esq.
282 pp., Paperback $24.95 US
McGraw-Hill 2006

Available at


About The Author:

Sandy Botkin, CPA, Esq. is a best-selling author and former trainer of IRS Attorneys. He is currently the Chief Executive Officer and Principal Lecturer of the Tax Reduction Institute based in the Washington, D.C. area. During the past ten years, he has taught more than 100,000 taxpayers how to save hundreds of millions in new and overlooked deductions. He consistently earns rave reviews for his clear and humorous presentations.

He is also the author of REAL ESTATE TAX SECRETS OF THE RICH: BIG TIME TAX ADVANTAGES OF BUYING, SELLING, AND OWNING REAL ESTATE! (McGraw-Hill 2007), a guide showing homeowners how to use their home to lower their taxes.

Mr. Botkin is also a member of the Florida Institute of Certified Public Accountants. He is a ‘Distinguished Real Estate Instructor” and is listed in “Who’s Who in Business.”

Source: Event Management Services, Inc.



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Copyright © 2007 All Rights Reserved.
Unauthorized duplication or use of Text, Site Template, Graphics and or Site Design is Prohibited by Federal and International laws. See our Notice/Disclaimer.