November 18, 2005

ALTERNATIVE MINIMUM TAX (AMT) WAS KILLED IN THE SENATE TODAY

GOOD NEWS FOR MANY!

The Alternative Minimum Tax (AMT) would be eliminated as of Dec. 31, in a bill passed today by the Senate. AMT was originally enacted to prevent the wealthy from avoiding paying taxes, but inflation has been causing the AMT to apply to more and more taxpayers every year. In 2006 14 million more American families would have been hit with higher taxes due to the AMT. The new Bill is not yet law, because it has not yet gone to the President for signature.

MAKE SURE YOU ARE REDUCING YOUR OWN 2005 TAXES TO THE LEGAL MINIMUM

The next "Inside the Book" class will begin on the Tuesday after Thanksgiving, on Nov. 29, and will continue for four consecutive Tuesdays. I will personally be conducting the series of small-group, 1-hour tele-coaching sessions. I will focus on helping you apply every one of the tax breaks covered in "It's How Much You KEEP, That Counts! Not how much you Make" to your own individual tax situation.*

Following the fourth session, each participant will be offered a no-cost, half-hour, 1-on-1 coaching session with me personally.

You can review the agenda and enroll in the course, by visiting http://www.homebusinesstaxsavings.com/ hmyk/inside-the-book.html This course is limited to the FIRST 10 to enroll!

WILL YOU BE TRAVELING DURING THE HOLIDAYS?

If so, you might want to review Chapter 8 of "Its' How Much You KEEP, That Counts! Not how much you Make," to refresh your memory on the requirements for legally converting your "personal travel" into tax- deductible Business Trips. It all boils down to what you do up-front -- more so than what you do on the trip.

HINT: Do not use a bright yellow highlighter to mark-off the dates in your day planner, and DEFINITELY do not write words like "Visit Family" or "Vacation" in your day planner.

In case of an audit, those words will most likely kill your deduction, because those words scream out that the Primary purpose of your travel was Personal, not Business.

HINT #2: Did you know that you can get HUGE savings on hotels, condos and resorts, plus saving on car rentals, plus getting rebates on air fares - but ONLY IF you are an authorized Travel Agent. In fact, savings on the cost of Cruises, Theme Parks, Tours, etc. are amazing!

Want to know how to become a legitimate, card-carrying Official Travel Agent (quickly and cheaply)? I've made a deal with "Billion Dollar Travel" to TOTALLY waive ALL of the normal $249.00 sign-up fee . BUT I could only get them to agree to offer this the deal until NOON on this coming FRIDAY, Nov. 25th (the day after Turkey Day).

Your ONLY costs will be $20 to get your official Travel Agent photo ID, and then $19.95/month. You can cancel anytime you want, but nobody I know ever cancels, because just one single trip a year can cover more than the membership fee of $19.95 a month. (Of course, both the 20-bucks up-front and the monthly fees are tax-deductible as Ordinary and Necessary business expenses.)

Check it out by getting online, and going to: www.BillionDollarTravel.com/SpecialOffer, and then clicking on the tab labeled "Movie."

After watching the movie, if you want to become a Travel Agent (I did!) call 505-746-6084 ask for Bill Johnston. Tell Bill that you want the "Special Offer recommended by Ron Mueller." He can process your application on the phone or via email.

Don't forget the FRIDAY NOON deadline. After that, you can still become an official Travel Agent, but it will cost you $249.00 up-front. Of course, that's still a bargain!

THINKING ABOUT GETTING A HYBRID VEHICLE?

Wait. Don't do it until after the first of the year, because the tax law is about to change, providing up to $3,400 Tax Credit for some vehicles. Tax Credits are way better than Tax Deductions, because Credits let you reduce your taxable income, dollar for dollar.

Hybrid vehicles are those that use a combination of gasoline and electrical energy or hydrogen or another alternative fuel.

There's another 'Tax Tip You Can Bank On.'