Why Form 944 Pr Overpayment 2024-2025

Hi Mark Kohler here. Let's talk about tax tips to not overpay your taxes. Now, I've got three incredible strategies here that I think can save you thousands and thousands of dollars. Number one, let's talk about having a home-based business. I'm not saying quit your day job, but even starting a small business on the side can be phenomenal. Maybe it's generating some extra income but writing off the personal expenses that now can be related to that of a business - cellphone, travel, dining, entertainment, Home Office, PDAs, laptops - all these expenses can be written off if you have that small business feature on your tax return. Number two, let's talk about buying a rental property. I know that may seem a little odd, but I encourage all my clients to be in the market to buy a rental property. Maybe just one rental property a year or every couple of years. It's a wonderful way to build long-term wealth, create tax-free appreciation, tax-free cash flow, and a future retirement. Number three, let's talk about self-directing your retirement account. Now, this has been around for years and years but it's something Wall Street really doesn't want you to know. That is, you can self-direct your IRA, 401k, SEP, simple, any sort of retirement account. You're not just stuck with stocks, bonds, and mutual funds. You can buy rental property inside your IRA, you can buy racehorses, a farm or ranch, all sorts of real estate strategies, or small business. It's called self-directing your retirement account. We oftentimes also call this opportunity shifting. Quit making so much money in your own life and paying so much in taxes. Shift the opportunity once in a while to your IRA. Well, look into it because it can save you thousands and thousands...