I am writing this book review because I want to express what I have learned from this book. I want to give an honest opinion on what you can expect from reading Ron Mueller’s Home Business Tax Savings book. I realize not everyone may have the need for such a detailed tax savings formula as to the one that this book illustrates. However, it is a wise man that knows where to go when in need of this information.
The first time that I was given the opportunity to acquire Ron Mueller’s Home Business Tax Savings book was way back in 2001, when my wife and I lived in Dallas, Texas. His book was given to me by the MLM company I had joined to help me create more income for my family.
This book wasn’t even a book, actually. It was just typed pages in a binder. Even the title was different. I was desperate for income back then because I had just been laid-off from my regular employment in the printing trade. I had no other choice but somehow make it all worth-while.
While I set there looking an an empty appointment book, I began reading this book. The more I read, the better I felt. The better I felt, the more motivated I became in looking for a way to make this formula work for me.
For that same year, 2001, I filed my taxes the following March with the IRS, and received a refund check for $2779.00. That was two-thousand dollars more than I normally received from my refund check – and I only used three of the fifty plus suggested tips! Just imagine if I had I used more of the tips what kind of refund I would have made!
I have used this book every since 2001 and every year – without fail – received a refund check. Every year since then the book has been revised and updated to include all the new tax laws and new deductions. For example, now I have the 6th edition of his book for year 2012. You can get your book here My Home Tax Savings Book.
What to expect from reading this book?
You find out about the two different tax systems the IRS uses in computing taxes – the Employee and the Employer. The book is a very easy read and not complicated at all for anyone to understand. The foreword is written by another best-selling author, Robert Allen.
The original title of the first book, “It’s How Much You KEEP, That Counts! Not how much you Make.” It is also fun to read and an invaluable asset to own.
Armed with the information in this book anyone can understand and use all of the tax laws Congress has passed in order to encourage Americans to establish and operate their own home-based business.
Do you want to know a secret? A simple home-based business offers more tax breaks than the super-wealthy can get with their expensive tax attorneys.
Everyone with a home-based business needs this book!
Anyone without a home-based business needs it even more!
About The Author
Ron Mueller, MBA, PhD
|Ron Mueller is an investigative reporter who spent more than a year researching and documenting home-business tax breaks that have been authorized by Congressional Law, and then translating the Government-ese, IRS-ese and Legal-ese he found, into “People-ese,” – Plain English that the average American can easily understand and quickly put ti use to save thousands on their taxes. He lives in San Diego on a 60 ft yacht named “Home Office.”|
In Ron Mueller’s own words, “Both the Old and the New Testament charge us with a responsibility to be good stewards of God’s money. That responsibility includes paying every penny of taxes required by law. It also means not overpaying our taxes, because that would be a wasteful use of God’s money.”
What you will learn immediately in the book that any home-based business tax law isn’t taught in most accounting schools, and isn’t even tested on a CPA exam!
In the Standard Federal Tax Reporter is some 44,656 pages published in 22 volumes, and it grows by an average of 50 pages per week!
The bible contains approximately 800,000 words. The Tax Code contains approximately 9,000,000 words – about as long as 11 Bibles!
The IRS pays some 115,000 employees to interpret and enforce the bewildering array of tax laws.
Since no one can be an expert on everything, the chances of finding a CPA that knows ALL the ways to reduce your home-based business taxes are slim, if not outright impossible. When it comes to doing your taxes, are YOU leaving money on the table that you could be receiving?
This is the main reason I endorse this book and hold it in high regard. I use this book as a reference for knowing what is deductible, how to be eligible for the deduction, and how to document the proof – just in case there were ever an audit. You can get your book here My Home Tax Savings Book.
How To Lower Income Tax
What constitutes the legality of a deduction? Who can qualify for the deduction? This is the other reason this book is so valuable to you. It actually has the original law in the book, so again if you were to ever be audited, you are going to win!
To be eligible for a home-based business tax deduction all you have to prove are three simple things:
- Have a Profit Intent. Note the word “intent.” They want to incentivize us to start a home business so the tax breaks begin as soon as we begin honestly trying to make a profit.
- Work your business on a regular and consistent basis. Why this requirement? If we started a home-based business, but didn’t keep working it on a regular basis, we would NOT have a part-time business that we could ramp-up to full-time without notice.
- Keep good records. Treat your small, part-time business just like the big, full-time business you may want (or need) it to be.
That’s it! If you meet those three requirements, you can qualify for a boatload of new, additional tax refunds.
It’s not rocket science, the government DOES want your tax money! But it wants a stable economy even more.
By giving citizens the benefit of operating a home-based business with all the deductions that a large corporation with many employees has, they are giving you the incentive to grow your part-time, one employee business into a full-time business they may employee more people. Hence, the economy grows, which leads to more taxes being paid.
This book also clarifies some of the popular myths that are being circulated around, like:
- You must show a profit in three of the last five years in order to be eligible for deductions. The truth: False
- I can only write-off a room and the equipment, furniture, etc, if It is used exclusively for my business. The truth: Partly true, with exceptions.
- I have heard that the amount of my write-offs can’t be any greater than the money I made in my home-business. The truth: Partly true, with exceptions.
This book is cleverly written because it is hard to put down once you begin to read it. My imagination kept giving me ideas as I was reading it for the first time. If you can change your tax return next year from a meager $600 or $900 return to over $2000, wouldn’t it worth it, just for grins, to see if you could actually increase your return 50%, 70%, up to over 300%?
To get a list of some of the many, many deductions you are able to legally take if you have a home-based business, please read my post on Is My Refund Incorrect?