Have you ever heard someone say they invested in an automobile? Maybe you have said it yourself.
The number one principal of building wealth is that unless you're building equity with whatever it is you own- and have control in-you're wasting your time.
There is no equity in a car, therefore it is not an investment, it is merely a consumer purchase.
Now, ask yourself this: is a person who is earning a high income of $100,000 or more better off than a small business owner? Yes? No?? You have certainly heard it said that the rich get richer and the poor get poorer, right? There truly is a separation of classes.
The middle class is disappearing and you certainly know the dollar does not get what it did just a few short years ago.
The rich and wealthy know secrets that are never taught in schools or universities.
In fact, what I am sharing with you could be worth $100,000, $200,000, $500,000 or much, much more ..
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Did you know that regardless of the tens of thousands of hours you may have spent in school, you were never taught to understand this strategy of the rich, I guarantee it ...
You must own your own business to guarantee your family security, your personal freedom, your self control, and your ability to do the things you want.
You must own your own business simply because of the potential tax deductions.
If you are lucky enough to be earning $100,000 or more for example, you would most likely pay about 45% in taxes (and a certain political party wants you to pay more - it begins with d).
So you can easily see that $45,000 of what you earn is gone to taxes.
So you really only made $55,000 on your $100,000 salary.
I wish I could earn such large commissions for everything I did for anyone, don't you? Now here's the big difference: you as a business owner, using a skilled tax advisor, and bringing in the same $100,000, receive the luxury of writing most of your business expenses off your taxes -- completely legal! If you as a business owner has $50,000 in expenses: for legitimate costs like business travel, entertainment, advertising, clothing, equipment, etc, it all is tax deductible.
I am sure you have expenses right now in some of these categories.
Depending on your business structure, you would likely be able to deduct many of these expenses directly from your gross income (use the advise a professional for this).
So what does this mean for the rich?? They have more spendable income than you! You as a business owner may have $50,000 in legitimate business expenses and then may ONLY be taxed on $50,000 instead of $100,000.
It's amazing ...
you have the same income but you have way more money! You have been taught throughout your life to be an employee, get that W-2 and give more to your government.
But there really are options, and they are available to everyone.
Do you know that your representatives and senators are almost all structured as "corporations?" Of course they are, they wrote the tax laws, so they structure themselves to take advantage of what they wrote, and then they raise your personal taxes.
Do they know something you don't?