The Wealthy See Expenses Differently

The average small business owner leaves thousands of dollars in legal write offs on the table every year. Not because the deductions don't exist. It's because they don't think through the strategy and think ahead of time or even know the rules. The wealthy treat every business expense like a tax planning opportunity, travel like I just talked about. Home office supplies and equipment for the home office, family involved in the business, having your regular annual board meetings, vehicles and auto expenses, technology, cell phones, computers, cameras and then even education and trainings. I went through that list. You were probably thinking yeah, some of that has a personal benefit but as long as it's primarily for business I'm going to try to write off the whole darn thing. And we have to remember the IRS isn't the enemy. Congress and our legislators created the law. The IRS is just there to enforce the rules and if you know the rules of the game, those deductions can be yours.