Understanding How Taxes Affect Our Lives

Today I wanted to share this poem and I’ll let you draw your own conclusions because you really don’t want to get me going on this subject.


Tax his land,
Tax his bed,
Tax the table
At which he's fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries, then
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers,
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.

Put these wordsupon his tomb,
"Taxes drove me
to my doom..."

When he's gone,
Do not relax,
Its time to apply

The inheritance tax.

Accounts Receivable Tax

Building Permit Tax

CDL license Tax

Cigarette Tax

Corporate Income Tax
Dog License Tax

Federal Income Tax

Federal Unemployment Tax (FUTA)
Fishing License Tax

Food License Tax,

Fuel permit tax

Gasoline Tax (42 cents per gallon)

Hunting License Tax

Inheritance Tax

Interest expense

Inventory tax

IRS Interest Charges IRS Penalties (tax on top of tax)

Liquor Tax

Luxury Taxes

Marriage License Tax

Medicare Tax

Pro perty Tax

Real Estate Tax

Service charge taxes
Social Security Tax
Road usage taxes

Sales Tax

Recreational Vehicle Tax

School Tax

State Income Tax

State Unemployment Tax (SUTA)

Telephone federal excise tax

Telephone federal universal service fee tax

Telephone federal, state and local surcharge taxes

Telephone minimum usage surcharge tax

Telephone recurring and non-recurring charges tax

Telephone state and local tax

Telephone usage charge tax

Utility Taxes

Vehicle License Registration Tax

Vehicle Sales Tax

Watercraft registration Tax

Well Permit Tax

Workers Compensation Tax

COMMENTS: Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt and the largest middle class in the world.

When you want to know how to make your fortune so you can pay for these taxes visit www.kickasswholesaling.com.

Taxed Out,

Gerald Romine

Do You Know When To Use A Partner?

Many new investors are looking for a partner when what they really want is a friend... that is, someone to talk to. And, partnering up could be a monumental mistake.

The first question to ask yourself is why do you want a partner? Here are two valid reasons.

1. To Overcome our shortcomings including:
Knowledge
Money
Skills

2. To divide the workload or risk.

Unfortunately, most people ask somebody they like to partner up and on the surface it seems like a good idea, but is it? What does the other person bring to the table? Do they have something you don't?

If all they possess are the same or very similar skills and a smile then in all likelihood you don't need them and they don't need you. But, if you have the knowledge and time and they have the money then that's another story.

Before you partner up with anybody make a list of each person's strengths and weaknesses to ensure you compliment each other because two people that like each other and have the same skill sets are likely to have problems working together. Why? Because both people will want to do the same things, avoid the same tasks, and think they could do the other persons job better. But, two people with different skills will work together well because both people will be working on their strengths and their partner covers their weakness.

When you look at most people's real motivation for a partnership it often comes down to money, or lack of it. In these cases you would be much better off to find private financing on your own then to form a partnership with somebody that is broke.

In Kick Ass Wholesaling and Instant Real Estate Profit Pro we talk about obtaining private and have a simple system for getting it. You might want to review those sections before getting into a partnership you'll regret. And, if you do get into a partnership make sure you have a written agreement!

PS - I have a favor to ask. If you enjoy this tip please forward thisw blog it to a friend. We're trying to help as many real estate investors as possible and this is one of the few free resources available anywhere online. Thank You.

Why Land Trusts Give You Privacy and Protect Your Assets

Today I want to answer a few questions from a newsletter subscriber about how land trusts can help you maintain privacy and protect your assets. Important for real estate investing and even if you only own your own house. So let’s get right to it…

First, land trusts keep your name off public records. Why is this important to a real estate investor? The short answer is it helps keep your assets out of harms way.

Let’s say you have 10 properties and a tenant slips, falls, hurts themselves and then sues. Who do they sue? The owner of the property and if you, your LLC or your corporation own all 10 properties then all 10 can be attached in a judgment. In short, you have risked all of your properties and their equities because they have the same owner.

But when you use a land trust for each property then each has a different owner with only one property is at risk when the tenant sues. The best part is when you have the right land trust you can create them as needed at no cost and the only person that keeps the land trust on file is you (that’s real privacy). There are no requirements to register the land trust with the state or to give anyone a copy.

Some states like Arizona require disclosure of the beneficiary when you take title in a land trust so an additional step is needed to maintain privacy. What to do? Simple, create another land trust to be the beneficiary of the first and you’ve met the state requirements for disclosure. Plus the only person that knows who the beneficiary in on the 2^nd land trust is you and your trustee.

Caution! I see a lot of people screw up land trusts by making themselves the trustee or the beneficiary. If you’ve done this you blew it. I’ve even seen the self inflicted double lobotomy when people have been both the trustee and beneficiary at the same time!

Using land trusts can be easy and if you want more information be sure to check out http://www.land-trust-seminar.com/.

Now go buy a house!

Gerald Romine