I’m fairly new to InterNACHI and I’d like to pick your brains on a few tax issues. First let me start by saying I’m scared of the IRS and don’t want to make any mistakes to give them a reason to audit me. As far as mileage, do I have to claim a home office to get mileage? How many of you claim a home office and have you ever been audited because of it? Are there any little known deductions inspectors can take that most don’t know about.
Any advise is greatly appreciated.
Do this: https://taxbot.com/z/nachi/ I did this year and love it. Their webinars have saved me thousands.
A good CPA will keep your taxes low or zero. I never complain when my CPA raises his fee.
The first thing I did is read up on tax loop holes before I went big in my business. If rich people can use them, I figured I could use most of them.
Best advice is … don’t get your advice from here. Have a CPA set up your books and do what he says.
I’m for sure doing this Nick.
I’m just trying to do everything right, but I also don’t want to cheat myself out of what I should be getting.
Matt try expense report it is free.
Tax bot takes you money out of your pocket.
Careful as there are many vendors picking your pocket on the forum.
Do yourself a huge favor and hire a good CPA.
A good CPA will pay for himself/herself many times over.
Quick Books or the like.
The “A” in CPA stands for accountant. For accounting, I agree, get an accountant to do your accounting.
But Taxbot isn’t just an expense report system (although it is that as well). It’s main focus is tax strategies. I thought I knew every legal way to lower my taxes until taxbot showed me many more. Taxbot made me a small fortune in 2013. They are an InterNACHI vendor that put money in my pocket. They saved me and other staffers here so much money in 2013 that we asked them to do two more webinars with Ben in 2014. They agreed.
Having been self employed for the last 30 plus years I wouldn’t even consider turning in a tax return without a CPA 's stamp on it. Just foolish imho…
The “A” in CPA stands for accountant. For accounting, I agree, get an accountant to do your accounting. But I don’t think Matt is asking about bookkeeping. He’s asking about tax strategies:
For that, nothing beats taxbot: https://taxbot.com/z/nachi/
Ben has two more webinars scheduled with them in 2014.
Scroll down to this webinar. We saved it so you can watch it any time. It is titled: 5 Strategies for Lowering your Inspection Business Taxes.](http://www.nachi.org/webinar.htm)
Again, scroll down to get to it.
BTW, it is a free webinar.
Escaping an IRS Audit was a good one too: www.nachi.org/webinar
Lots of shoving at us here Nick.
You giving Tax bot free to members because if not please tell us the exact fees involved.
What cut you getting ?-disclosure.
Also can you explain why it is better for us non wealthy inspectors to use than Expense Manager which is 100% free?
Please share exactly what you learned here.
I don’t get anything other than tons of savings.
I don’t know if “Expense Manager” provides better tax strategies particular to home inspectors because I don’t know anything about them. Tell us about them please. If “Expense Manager” saves me more money with their free strategies and free webinars, I’ll push “Expense Manager.” I’ll push any tax strategy company that saves members money. Have they helped you?
I did. I made the webinars free in www.nachi.org/webinar Did you watch our free webinars? They aren’t sales pitches, they are real advice that saved me money personally… and they are totally free.
But tell me about this “Expense Manager” service? I want to know about every legal tax-saving strategy out there. Making money is one thing, keeping it is another.
Nick, I did watch this and loved it, thanks.
I do have a CPA but I was mainly looking for answers as to what little known strategies you all use and if any of you have ever been audited.
By the way I never knew about the truck deduction covered in the webinar. I’m going to be buying a new truck soon so I was excited to find out about that.
For the price, Taxbot is a no brainer to me. It seems like it makes book keeping simple and saves a ton of time.
This is a public forum. And now that I’ve used the words “Tea Party” you can be sure Obama’s IRS is reading everything you say. Danger Will Robinson!
Great we can watch your free seminars on the subject and then use the free Expense Manager to keep track.
Since you tell us you always endorse the best deal for members it is hard to beat free.
Expense Manger will be happy for your endorsement.
Any special reason you are not telling us how much Tax Bot is costing you so far ?
They have more expensive prices based on income or something ?
If a flat rate please simply tell what you are paying or is Tax Bot free like Expense Manager ?