In a recent post called “How to be a side-gigger” I noted that the four books mentioned in the article would eventually go up as giveaways.
Here’s the first one: “Outsmarting the System: Lower Your Taxes, Control Your Future and Reach Financial Freedom.”
Written by former IRS auditor Anthony Campidonica, the slim volume explains several ways that ordinary people can use a group of tax benefits, i.e., those for the self-employed. You could be an entrepreneur (full- or part-time), a landlord or an investor.
What if you don’t have the wherewithal to open a store, buy a rental property or invest like the pros? Start small, the author advises. Sell your expertise or a product on the side vs. quitting your day job and diving in. Or save up for that foreclosure or repo and go the renovation-and-rental route in your off hours.
“All taxpayers…should have a small business to take advantage of the tax laws like the rich do,” says Campidonica.
His book is a good introduction to advantages you’ve probably never dreamed existed. I am now a limited liability corporation and I’m quite happy with some of the benefits that go along with the deal.
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