Tax & Financial Tips Archive
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Date: November 4, 2010
Subject: G&G Tax Tip: 2010 Tax Rates & Copies of Tax Returns

This is
G&G Associates
Tax & Financial Consulting Services

2010 Tax Rates & Copies of Tax Returns

Imhotep (Wisdom To You) G&G Readers,

Why is it important to know your tax bracket? So you can see just how much of your money is leaving your home that you can legally keep. Think of it like this...if you are in the (25% fed and 5% state = 30% tax bracket), for every dollar you make uncle sam gets 30 cents. For every dollar you deduct from having legal tax deductions OR from owning a Home Based Business, that's 30 cents you keep. In essence giving you a 30% return on your investment. The investment is your labor.

Change your thinking...change your results. Don't be happy with the flailing 401K that your lucky if it's even positive for the past 3 years. Do a sanity check, see where your portfolio was in 2007, see where it is now. Did you make any money? If not, give me a call ASAP so we can stop this from happening in the future as the economy gets ready for round two of this Double Dip Recession.

Click here for 2010 tax rates:
http://www.cpasitesolutions.com/content/articles/2010taxrates.html

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Internal Sponsorship:

Do you have a Home-Based Business (HBB)? If not, Why? This is your quickest, safest and most assured way to get a GUARANTEED 25-35% ror on your investment. Remember, with a HBB you get to deduct over 422 business expenses. Without a business you get about 7-10 business deductions. Look at it this way…if you are in the 30% tax bracket (25% Fed & 5% state); for every dollar you deduct 30 cents goes to you. For every dollar you do not deduct 30 cents goes to Uncle Sam.

Somehow I think you can use the money more than your Uncle.

Give me a call and I’ll show you how to implement this strategy and keep 30 cents on every dollar by doing so as well. This is what you call SMART planning and investing.
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How to get copies of your Tax Information


When it comes time to apply for a loan, you often need to supply your federal tax information. Here's how to get copies of both your tax return transcripts and your tax account transcripts.

First, a brief explanation of each document...

A tax return transcript shows most line items from the tax return as it was originally filed, including any accompanying forms and schedules. It does not reflect any changes you, G&G Associates or the IRS made after the return was filed. In many cases, a return transcript will meet the requirements of lending institutions through which you're trying to secure a mortgage or loan.

A tax account transcript shows any later adjustments either you, G&G Associates or the IRS made after the tax return was filed. This transcript shows basic data, including marital status, type of return filed adjusted gross income, and taxable income. The IRS does not charge a fee for transcripts, which are available for the current and three prior calendar years. Allow ten to thirty days for delivery or go to your local IRS field office to pick up a free copy.

You can request either transcript by phone or mail.

• Phone: Call 1-800-829-1040 and follow the prompts in the recorded message
• Mail: Complete IRS Form 4506-T, Request for Transcript of Tax Return
• www.IRS.gov to get location of local field office to pick up a copy

If you need a photocopy of a previously processed tax return and attachments, complete Form 4506, Request for Copy of Tax Form and mail it to the IRS address listed on the form for your area. There is a fee of $57.00 for each tax period requested. Copies are generally available for the current and past six years. Or,

Become a client of G&G Associates as we keep a secure pdf copy of your tax return that you can always obtain from us for free.

FYI…if you are a taxpayer impacted by a federally declared disaster, the IRS will waive the usual fees and expedite requests for copies of tax returns.

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*** G&G Tax Prepartion Services “Price Guarantee”; We Guarantee to beat any other “tax professional’s” price.

Also, all new clients get a $40 discount or a free 1 – year annual subscription to G&G Investment Society (GGIS) paid newsletter service a ($99) value.

Also, all new clients will get a “FREE” 1 hour Financial Success Strategy Consultation appointment a ($200) value.

We also pay a $40 (unlimited) referral fee for any client you refer that gets their 2009 taxes completed with G&G Associates. ** Refer 4 clients in one year and you get your 2010 tax return done for free.
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If you want to setup a one-on-one consultation, contact me to set-up an appointment.
If you missed a past G&G article, visit www.gngassociates.net and click on the Newsletter archive link.

Until the next time!

Ankh Uja Snb (Life, Health, Strength),

Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
www.gngassociates.net

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"Your mind is like a parachute, it only works when it is open."
C. Brown

P.S. If you're not a GGIS Paid Subscriber reader yet, it's not a bad way to start the year. The recent dollar rally has actually given everyone some new opportunities to invest on the cheap. And currently, our GGIS portfolio is packed with great plays to kick-start your "anti-dollar" portfolio for 2010.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy.


LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered

 

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