San Rafael, CA (PressExposure) April 27, 2009 -- Tax Reduction Letter) Tax reduction expert Murray Bradford today announced the availability of a free article that gives husbands and wives who file separate 1099s strategies to realize greater tax savings. Titled "Husband and Wife 1099s," the article is available in the Free Resources section of Bradford Tax Institute, his newly launched tax reduction website. Normally accessible only to Bradford Tax Institute subscribers, this and other articles from the Tax Reduction Letter provide the tax reduction tips and strategies that small business and other self-employed professionals need. Furthermore, the Bradford Tax Institute presents this content in straightforward language for laypeople, but with the addition of in-depth annotations for experienced accounting professionals.
"Plenty of technicalities can leave self-employed couples paying much more than necessary in income taxes," said Bradford, whose expertise in tax reduction comes from 30 years in accounting, including a lengthy stay at Price Waterhouse. "The solution is to study up on tax law, but the problem, of course, is that tax law can be time-consuming to become fluent in. This is why self-employed individuals need a resource that presents tax law in straightforward language easily accessible to the layperson; it saves them time and money."
Publisher of the Tax Reduction Letter every month, tax reduction expert Murray Bradford, CPA, has years of experience in developing and implementing small business tax reduction strategies. A former accountant for Price Waterhouse, Bradford is founder of several tax reduction strategies businesses. Quoted in national publications such as The Wall Street Journal and featured on national programming such as Financial News Network and CNBC, Bradford has helped more than 500,000 self-employed taxpayers realize an average of $17,700 in new tax deductions. His popular courses provide actionable small business tax advice.
Using the example of a husband and wife who each receive 1099 income, the tax saving article gives married couples under these circumstances the strategies they need to reduce self-employment taxes. Specifically, Bradford notes, when each spouse receives a 1099, each must file a separate Schedule C, as well. This scenario leaves a husband and wife who share an office and other business expenses then having to split and allocate these tax deductions; if the couple adopts an "employer spouse-employee spouse" set-up, however, the husband and wife together can realize greater tax savings, and Bradford's article goes on to explain the details.
"As always, the self-employed can do a number of things to lessen their tax burden," said Bradford. "Tax law typically tolerates more than one arrangement, thus accommodating the needs of people operating under different situations. But nobody can take advantage of these opportunities without first knowing that they indeed can."
Bradford invited one owner and husband and wife business owners, as well as tax professionals themselves, to view the Bradford Tax Institute video tutorial. Nearly 400 Tax Reduction Letter articles detailing tax reduction tips are available at the Bradford Tax Institute, with more on the way and all written in plain English for tax laypeople and annotated for savvy accounting professionals. A 7-day free trial of the Bradford Tax Institute is available, which yields full access to the last three issues of Tax Reduction Letter for seven days. Readers have the choice, as well, of subscribing to the Tax Reduction Letter in order to receive access to not only the latest issue, but also all archived issues that are on the site.
Bradford noted the availability, as well, of "Tax Strategies for the Self-Employed (2009)," his annual course of tax reduction tips designed to help one-owner and husband-and-wife businesses navigate the maze of rules they must follow to properly determine and report their income. The tax reduction course reveals 171 tax lowering strategies that draw on his expertise from 30 years in accounting. Bradford's tutorial on S corporations, posted at YouTube, is one example of these. Readers may order Bradford's tax-saving course now, or they may first watch a video that shares seven free insights into reducing and audit-proofing their taxes.