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March 28, 2009

Tax Magic: How To Turn Taxable Income Into Tax-Free Income

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Many people carry 40lbs or more of compacted acidic waste in their
colons for years and years. John Wayne and Elvis Presley for instance. Acid reflux
is a strong indicator. To remove this waste, and rid yourself of acid reflux, have cleanse every day with a special kind of water.
For information watch the colon cleanse video.

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Many people carry 40lbs or more of compacted acidic waste in their
colons for years and years. John Wayne and Elvis Presley for instance. Acid reflux
is a strong indicator. To remove this waste, and rid yourself of acid reflux, have cleanse every day with a special kind of water.
For information watch the colon cleanse video.



Believe it or not, there are ways to convert taxable income into non-taxable income, without any fear of an IRS audit.

Here’s one of my favorites. It’s been part of our tax code for over 30 years, yet many still don’t take advantage of it.

What am I talking about?

The IRA — Individual Retirement Account.

Now, before you say, “Oh, I know all about that one; what’s so great about an IRA?”, give me 10 minutes to explain 3 new benefits to the IRA rules that you may not realize.

BENEFIT #1: How To Avoid Tax Rather Than Postpone Tax

First, did you know that there are now 2 kinds of IRA’s available?

The so-called Traditional IRA is the one that first came out way back in the 1970’s.

But there’s a newer version of the IRA that’s only a few years old — it’s called the Roth IRA. And the difference between these 2 IRA’s is huge.

Traditional IRA contributions are tax-deductible, resulting in immediate tax savings. The growth of those contributions is also tax-sheltered while the funds remain in the account.

But eventually all tax-deductible Traditional IRA contributions, as well as the growth of those contributions, will be subject to income tax when the money is withdrawn from the account.

In other words, Traditional IRA’s offer the opportunity to temporarily postpone taxes.

In contrast, the Roth IRA offers the opportunity to permanently avoid taxes. With a Roth IRA, you don’t take a deduction for your contributions; instead, you make a contribution with “after-tax” dollars.

Whatever you put in not only grows tax-free, but can also be withdrawn tax-free.

Here’s an example to illustrate:

If you invest $2,000 per year for 20 years into a Roth IRA, you will have invested a total of $40,000. Now if that Roth IRA earns an average of 10% per year, that $40,000 will grow into $126,005.

Now comes the fun part: Assuming the IRA has existed for at least 5 years and you are at least 59 ½ years old, you can withdraw the entire $126,005 tax free.

In contrast, if this money had been invested in a Traditional IRA, the entire $126,005 would be subject to income tax as it is withdrawn.

The $86,005 of growth is magically converted from taxable income to non-taxable income. Assuming you are in the 15% federal tax bracket, that’s a savings of $12,901. Add any state income tax, and you could save over $15,000 in taxes.

BENEFIT #2: Take An Extra 3 ½ Months To Fund Your IRA

The deadline for contributing to your IRA is April 15 of the year AFTER the year for which the contribution made.

So for Year 2005, you have until April 15, 2006 to put money into your IRA.


If you’ve already invested the maximum (more about that in a moment) by December 31, 2005, then you’re done. No more money can go into the IRA for 2005.

But if you haven’t maxed out your IRA, you have until April 15 to do so.

Which brings me to . . .

BENEFIT #3: The Maximum Contribution Amounts Have Increased

For many years, the most you could put into an IRA was $2,000. Now, the maximum is $4,000 (assuming you have at least that much earned income from wages or self-employment income).

And if you are over 49, you can put in another $500, bringing the total maximum to $4,500.

A married couple, both age 50 or older, can put a whopping $9,000 per year into a IRA. Not too shabby, eh?

One final note about these Roth IRA rules: For married people, you can only contribute the maximum of $4,000 or $4,500 if your combined income is less than $150,000.

If you are single or head of household, you can contribute the maximum if your income is less than $95,000.

For most middle-class folks looking for a perfectly legal way to permanently avoid tax (rather then merely temporarily postpone tax), the Roth IRA fits the bill.

Now comes the hard part — how to actually implement this tax avoidance strategy.

“We’d like to save as much as we can for our golden years. But $9,000 a year? It’s hard to put aside that kind of money. We need every dollar we make just to pay the bills.”

If that’s your situation, I’m not going to get up on my “what-do-you-mean-you-can’t-save-any-money-for-retirement” soapbox and start preaching at you.

I will say this: You’ve got to start somewhere, and you’ve got to start saving something, don’t you?

People who have a problem saving for retirement usually have a budgeting problem. For an excellent resource on budgeting, I highly recommend the Budget Stretcher web site:

http://www.homemoneyhelp.com.

This site offers a free budget system complete with simple forms and worksheets to help you figure out how to put some money aside for a Roth IRA or other savings plan.

Take advantage of this resource and get started today.

Wayne M. Davies is author of 3 tax-slashing eBooks for small business owners and the self-employed. For a free copy of Wayne’s 25-page report, “How To Instantly Double Your Deductions” visit http://www.YouSaveOnTaxes.com

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March 19, 2009

Do You Know How Income Taxes Are Calculated?

Filed under: Income tax — Tags: , , — noviorbis @ 9:02 pm


Many people carry 40lbs or more of compacted acidic waste in their
colons for years and years. John Wayne and Elvis Presley for instance. Acid reflux
is a strong indicator. To remove this waste, and rid yourself of acid reflux, have cleanse every day with a special kind of water.
For information watch the colon cleanse video.

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Add to My Yahoo!

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Watch Over My Shoulder As I Show You How I Exploded My AdSense Earnings And The Best Part…It’s Free!


You get 24 web sites, each has 30 pages, customized to your adsense, This makes 720 pages out there displaying your adsense to see just one of mine visit this site here. Don’t forget to see all the videos at the bottom of the page.

This is the first of a series of 2007 Tax reference sheets that I’ll be sharing with you over the next month or so. This one focuses on some of the major federal income tax key numbers. I’ll do future ones for estate planning, retirement planning and business planning in the not too distant future so stay tuned.

Since federal income taxes are such a large part of most peoples life or expenditures, I thought that you might like a summary or reference sheet for some of the important figures for 2007.

Many people believe that if someone is in the 28% tax bracket, they pay all taxes due at the rate of 28% of taxable income. This is not correct. A couple having a taxable income of $125,000 does not pay 25% federal income tax on ALL of the taxable income… but only on everything over $63,700. The first $15,650 is only taxed at 10%, the taxable income from $15,560-$63,700 would be taxed at 15% and so on. The figures below is taxable income (after deductions and exemptions).

I’ll start out with the tax brackets for the 2007 tax year.
The figures below show the various “steps” on how the
marginal income brackets are progressively taxed higher.

Married, Filing Jointly:

$zero - $15,650 is taxed at 10%
$15,650 - $63,700 is taxed at 15%
$63,700 - $128,500 is taxed at 25%
$128,500 - $195,850 is taxed at 28%
$195,850 - $349,700 is taxed at 33%
over $349,700 is taxed at 35%

Married, Filing Separately:

Note: Often times it make more sense for a married couple to file taxes separately for either tax reduction strategies or for non-tax reasons. Your tax advisor should help you decide if there are important reasons for YOU to take advantage of this filing status.

Tax brackets for Married Filing Separately: Simply cut the above taxable figures in half for those six tax brackets

Single:

$zero - $7,825 is taxed at 10%
$7,825 - $31,850 is taxed at 15%
$31,850 - $77,100 is taxed at 25%
$77,100 - $160,850 is taxed at 28%
$160,850 - $349,700 is taxed at 33%
over $349,700 is taxed at 35%

Single, Head of Household:

$zero - $11,200 is taxed at 10%
$11,200 - $42,650 is taxed at 15%
$42,650 - $110,100 is taxed at 25%
$110,100 - $178,350 is taxed at 28%
$178,350 - $349,700 is taxed at 33%
over $349,700 is taxed at 35%

Standard Deduction:

Standard Deduction is ONLY for those who do NOT itemize expenses like mortgage interest, charitable contributions, etc.

Married, Filing Jointly: $10,700
Married, Filing Separately: $ 5,350
Single: $ 5,350
Single, Head of Household: $ 7,850

Those who are blind or over age 65 can ADD $1,050 (if married) or $1,300 (if single or head of household) to the above Standard Deductions

Personal Exemptions:

Personal Exemptions are set at $3,400 per allowed person subject to Phaseouts (which are reductions in the Exemptions) based on taxable income. This is not an issue unless your taxable income is at least $117,300 (depending on filing status).

Maximum taxable EARNED income subject to FICA tax: $97,500

The Social Security and Medicare combined tax rate is 15.3% on income up to that figure. W-2 employees pay half of the 15.3% and employers pay the other half. Self-employed pay the whole amount.

Long-term Capital Gains and Qualified Dividend Rates:
For those in the 10% and 15% Income tax brackets only: 5%
For taxpayers in the higher tax backets: 15%
Capital gains on collectibles (coins, stamps, etc.) 28%

One of the important functions of a financial advisor is to help reduce taxes to your legal minimum due by using all appropriate deductions, methods and strategies. A good tax advisor is worth their weight in gold! So go find a pro-active tax advisor, not someone who just files tax returns.

And now, hopefully you will have a better idea of what that person is talking about.

Since 1997, Mark J. Orr, a Certified Financial Planner, has helped hundreds plan for more financial success through powerful strategies and advice. To get 101 FREE Financial Planning Tips and to Register for his complementary e-newsletter, simply go to: http://www.SmartFinancialTips.com


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March 21, 2008

Know about what you can save on taxes.

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This you must be aware of when you start your own

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Home Business

Good Evening,

Below I will show you how you can save a whole whack of taxes. This is the
very same way it is done by the people who know how to really save on
taxes. It is also the way the Government allows you to save. No question!
Please read all of this page, as it will certainly be of benefit to you. It will
change your whole lifestyle. Having extra money will give you a different
outlook on life.

Sidebar………………..

There is a lot of reading to do here at this site. I will try my very best to make
it interesting enough, so you will get the whole picture of how to save on
taxes, also this golden Home Business opportunity selling the worlds best
Water.

Even if you don’t join us in
Kangen water, you will still have information which will
benefit you always.

Let me explain why kangen the ideal opportunity for you to ? work from
home”,

First there are 4 important questions we have to ask ourselves

1. What’s in it for me

2. Demand

3 Supply

4. Business Model

1. WHATS IN IT FOR ME ?.

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Please ask yourself this other question? What is the “cost of living item” that
is the biggest expense to us all.

There are many things that cost a lot, Health, Housing, Education, but the
costliest by far is TAXES. They have to be paid doesn’t matter what happens;
however, there is a legal way to save.

You might say to yourself, I am in the 30% tax bracket, I am not too bad off,
however when you think about it, every product or service there is a cost, we
have, TAXES. Land Tax, Gas tax, Airline Tax, need I go on.

Really, instead of 30%, our taxes can very easily be 49% and more. Out of an
income of say $60,000.00, that is quite a chunk. Should you have to write a
check at the end of the year for $30,000.00 wow. I realize you do pay it over
the year. It is however, still $30,000.00.

Here’s something to think about. Have you ever wondered why people with
Corporations get away without paying the kinds of Taxes we pay? Sure you
have. Some people, the top earners, are very rich, and they pay very little in
taxes. We have all heard of them. Well my friends, their relief is simply called,
write offs. By having their own business they are able to write off huge
amounts in many different areas. Can you guess how many different sources
they find, I even haven’t found them all yet..

It is time we all did the same thing, become one of the very fortunately rich.
Government encourages people to have their own businesses. This is one of
the reasons for this web page; we are going to help you to start your own
business, and save on your taxes.

This is not something like paying a fortune for a McDonald Franchise, where
you can spend up to a million dollars. Because you spend this kind of money,
you also spend 24 hours a day on site to protect your big investment. This is
certainly not like that.

I am talking here of a business where you can have it for very little money. A business, where you have that spare time you have always
promised yourself. Worked correctly, you will also have lots of money to
spend when you do have that leisure time.

By having just one source of income, we are all suffering in many ways.
Now-a-days, it is so difficult planning for the future, relying on just a J.O.B.
(Just over broke). It never happens, we live and get poorer, no matter how
much we earn.

Should you have a real desire to be wealthy, it is not as hard as you may
think. Just wanting it enough is a start.

We need to break away from this merry go round. By paying such Taxes, it
doesn’t help us to get ahead at all. By having to work so hard to pay these
taxes, we do not have any of the spare time we need. This is certainly not
how life should be lived.

It is necessary to find that extra income by having a second way to earn. Not
only have more money, but pay less taxes. Working from home is the
answer, however, it is just what it says, WORK. It is no good deciding to start
your own business and not having a plan to carry out. Remind me to tell you
the 10 hours a month system.

Today, many wives work, this is necessary to assist the family. However,
that income is taxed, so therefore by working the tax rate goes up, the final
amount is not what it appears to be at first. It is so much less.

Let me show how you can stay at home, and be much better off.

To make a good income it is necessary we must have the right program. The
following will prove
Kangen water is just that program. Once you investigate it,
you will begin to understand how it works, then you will reap the many
benefits it provides.

To summarize “What’s in it for me……. Most certainly one must find a way to
reduce paying the taxes, we have to pay year after year. That would be a
start wouldn’t it. Then have a way to build extra income.

The simplest way is to have a business that first of all doesn’t take up too
much of your valuable time, a business, that the following paragraphs
answers very clearly.

Kangen Water
is the fastest growing program on the web by far, especially by
what has happened. We do not advertise at all, we pay the advertising money
direct to our members. This certainly makes more sense to me.

Even though Kangen have been in business for a short whilehere on this continent, they have
already topped 250 million dollars in units manufactured, plus they have
paid out a huge amount of compensation

I want you to be aware, we don’t pay Television great whacks of money, we pay
you, our members.

2. DEMAND.

Today, (March 20th) I went down to the White Rock beach, and being a male I
could not help notice the long legged bikini clad beautiful young ladies. (I
wonder what-ever happens to them in the winter). We don’t seem to see the
same number around do we?

However, I did also notice a number of overweight people. They range from a
few lbs to, well…. I know you know what I mean.

These people have reason to be down the beach, walking is a great exercise;
they use this method to shed a few lbs. However, the time has come where
they need to educate themselves to the fact that their weight problem is
caused by many other reasons. To some, eating is is not always the problem
of all. Haven’t you heard, ? well I don’t eat that much?. I would suggest we
should believe them when they say that, for many it is true.

It is a fact that 67% of the population are overweight, this wasn’t so in the 50’s
and 60’s. What is happening, well, we all are subject to taking toxins into our
bodies. The food we eat, and the air we breathe. These toxins cause the body
to retain the fat modules, simply because our bodies are not functioning
correctly. All our organs are restricted working correctly, due to these toxins.
This is a fact that is explained by many Doctors.

Please read one or more of the Articles I have written explaining what Toxins
are really doing to our whole systems.

Visit http://ezinearticles.com/?expert=Ralph_Morton&o=date-d

What we have to do is educate people to the fact that their bodies must be
cleansed. Hey, we clean our cars, we also clean our homes, why not our
bodies? This is not a pet peeve of mine, it is now a known fact.

This is understandable, because with our body functioning correctly, our
general feeling is unbelievable, simply because the organs are working as
they should. For so much time, the colon, liver and kidneys have fought these
toxins, now they are free of them. It stands to reason we feel 100% better.

There is a web page you can visit where you will see quite a number of
people who have had the benefits of
Kangen water.

70 Billion dollars are spent on Weight Loss products here in North America
each year.

Yes, the DEMAND is there alright, it is a pleasure to be at the right place at
the right time. One could not wish for a better opportunity than
Kangen
offers. Think about it, we possess the best product on the market today, and
people are spending all that money to lose weigh and clearing up their illnesses.

3. SUPPLY

All units are manufactured in Japan and sent to warehouses throughout USA and Canada.

It is expected for the Company to open in 12 more Copuntries in 2008.

.

For your information, it took Nike 5 years to reach 50 million.

Now I know I am no Tiger Woods nor do I own the ABC Television or any other
company, nor do I own Magazines; Nike do not pay me for advertising for
them. However that would be nice. What I am saying, Nike has their system
of getting their message across, andIKangen have their way. Both methods
are very successful. I do however, like the system where the dollars are
spread around a bit more. I like it more when they take the $10,000,000.00
that Tiger was paid and spread it around to more people.

I believe this makes a lot more sense, and on top of that, doing it Kangen
way, makes a lot more people very happy.

We are now however, falling rapidly behind Nike?s production; it is very hard
to keep up with their performance. Nike is in every country in the world, they
can?t miss. They really are in momentum. However, Kangen also have in
their plans to expand throughout the world.

4. BUSINESS MODEL.

Truly if you want to get out of the rat race, you most certainly should work
from home. Whether it is with Kangen or not, you should look forward
toward that time when you can break away from the
J.O.B. as your only
source of income.

Certainly the future will be brighter with time to relax, and also with a hefty
extra income to fall back on does kind of help. It is very nice to set your mind
at rest, knowing that you have a legacy to leave. am giving about thirty businesscards
per day so far, however if you set a goal for yourself of passing out even two
or three per day, you will find you will be successful.

Once you sign up, you have taken the first step to success.

End of Sidebar……………….

We, who are already in business for ourselves are reaping the many benefits
by working from home. I can only say, I have never had it so good.

When you think of the taxes we pay, relief is always welcome, believe me you
can save a lot of money. By having your own Home Business, you have the
same situation as those Corporations. You are able to write off products, part
of your mortgage/rent, your telephone, your computer, part of your car, gas,
maintenance and many other items.

Another is, going on holiday, you get to completely write it off???..

I feel that by Tax Benefits as one of the main themes will get people interested
enough to read this web page. They will see then what Kangen has to offer.
I am sure what you have seen so far has made a favorable impression and
have you considering the program.

I would mention if you know someone in Kelowna or even Miami or anywhere
in North America, I suggest you send an email to him/her telling them to read
this web page. Also invite them to our conference calls. Should they be the
first to give out business cards in their own area, you could have massive
down-line in that city without doing a thing other than sending out an email.

Believe me this is the fastest growing organization in North America, I need to
do a good job in explaining it all, so you are able to see the potential of
working from home as an Kangen Distibutor..

Napolean Hill says to be successful you must have a goal, my first goal with
Kangen is that we will reach a plateau within six weeks. In my mind, this
has already been achieved.

Having the desire to be rich, also a desire for a fantastic future is the only
way this will work. Think as if it has already happened. I hate to say anything
negative, but should you not work as hard as others, you will still be pretty
well off.

I have to say this before I close. I have said the choice is completely yours,
however, if all remains as it has been for the last 10 years you are fully aware
what the future holds. On the other hand, with not too much effort, you are
able to change your situation completely.

My Best wishes for your future,

Cheers

Ralph Morton

Tel :604-536-6813

noviorbis@telus.net

Kangen water and many other valuable tips free


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