By analyzing the tax returns of the high figure earner, Donald J. Trump, we learn the ways that we can maneuver in filing taxes with a high income and rich assets.
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By having multimillion dollar deductions, DJT’s company was able to properly record losses and decrease payments.
Inspiration from high figure earners shows that multiple corporations are owned by the same individual. Each individual business records income and expenses in the multi millions of dollars.
Proper and precise accounting for each corporation is highly necessary for high figure earners.
Having a solid counsel and tax preparer for your business is vital for filing taxes as a high figure earner. The IRS mentioned that counsel and accounting firm for high-net worth individuals.
As real estate professionals, documenting property ownership, rental payments, appreciation and depreciation, business expenses and operations, are highly important as we move forward as high income individuals.
Owning six figure businesses and million dollar properties are the norm for our existence.