Tax What If Doctor<\/a> <\/span><\/h2><\/div>![](\"https:\/\/taxwhatifdoctor.com\/wp-content\/uploads\/Blog-Pic-2023.03.21.png\" "\\"Simple")
<\/a><\/div>Simple Tax Tips Are Sometimes the Best<\/a><\/span>by TaxDoctor<\/a> on October 28, 2026 at 6:42 pm <\/small>People often struggle with record keeping and are typically so busy that they are simply unaware of tools or services that have been developed that could greatly improve the recording of tax deductible expenses, mileage, etc. There are many topics we could cover here, but two that are universal. If you are in business, you have a phone and a car. Cell phones are pretty typical for smaller companies. What we usually see is a personal cell phone bill of about $150-200 a month, and of course the business owner wants to deduct it all. When you start asking questions however, it\u2019s almost always a family plan with the spouse and kids on it, so 80% of the cost and<\/p><\/div><\/li>
- <\/a><\/div>Logical Tax Planning<\/a><\/span>by TaxDoctor<\/a> on October 21, 2026 at 1:57 pm <\/small>
It\u2019s hard to be logical all the time about everything. The most financially successful tax clients we serve at least attempt to force themselves to be logical, for their own benefit. For instance, our parents, as well as a subset of the economy including some popular radio show based advisors like Dave Ramsey, say you should pay off your home and have a \u201cfree and clear\u201d deed as a goal (they are wrong in most cases by the way).\u00a0That kind of thinking is emotional thinking, mixed perhaps with some presumptive attitude about what the general populous is capable of. \u201cWell, we know we can\u2019t get people to do what would really be best for them based on pure math and<\/p><\/div><\/li>
- <\/a><\/div>Non-qualified Accounts As Tax Planning Tools?<\/a><\/span>by TaxDoctor<\/a> on October 14, 2026 at 4:48 pm <\/small>
When people save for retirement they almost automatically use accounts that avoid tax now. IRAs, 401(k)s, 403(b)s, 457s, all pretax retirement savings plans. Certainly, long term savings uninterrupted by withdrawals and the effect of compounding interest on interest earned is unarguably valuable, but doing that in pretax accounts is NOT the only way to have that happen! Non-qualified annuities and Roth IRAs allow the same mechanics of compounding to happen, and in retirement both can be as valuable depending on the circumstances and actions of the retiree. Annuities are underappreciated as a tax planning tool, because of the way earnings are treated as ordinary income upon withdrawal. However if annuitized at retirement (an option the advisors that distribute them don\u2019t<\/p><\/div><\/li>
- <\/a><\/div>Overlooked Opportunities<\/a><\/span>by TaxDoctor<\/a> on October 7, 2026 at 7:08 pm <\/small>
An often overlooked tax savings opportunity comes from not fully understanding how you can use your cars as a deduction on your tax return.\u00a0It is very common for people who have a Schedule C sole proprietor type business to claim their mileage on automobiles. But the privilege of using personal deductions on a tax return is not limited to someone who is filing a Schedule C.\u00a0 For instance, a landlord might own three apartment buildings and file a schedule E on his personal tax return and not feel like he is \u201cself-employed\u201d as he has a full-time W-2 job. However, the use of his personal car on that schedule E is just as deductible as it is for the Schedule<\/p><\/div><\/li>
<\/a><\/div>Simple Tax Tips Are Sometimes the Best<\/a><\/span>People often struggle with record keeping and are typically so busy that they are simply unaware of tools or services that have been developed that could greatly improve the recording of tax deductible expenses, mileage, etc. There are many topics we could cover here, but two that are universal. If you are in business, you have a phone and a car. Cell phones are pretty typical for smaller companies. What we usually see is a personal cell phone bill of about $150-200 a month, and of course the business owner wants to deduct it all. When you start asking questions however, it\u2019s almost always a family plan with the spouse and kids on it, so 80% of the cost and<\/p><\/div><\/li>
<\/a><\/div>Logical Tax Planning<\/a><\/span>It\u2019s hard to be logical all the time about everything. The most financially successful tax clients we serve at least attempt to force themselves to be logical, for their own benefit. For instance, our parents, as well as a subset of the economy including some popular radio show based advisors like Dave Ramsey, say you should pay off your home and have a \u201cfree and clear\u201d deed as a goal (they are wrong in most cases by the way).\u00a0That kind of thinking is emotional thinking, mixed perhaps with some presumptive attitude about what the general populous is capable of. \u201cWell, we know we can\u2019t get people to do what would really be best for them based on pure math and<\/p><\/div><\/li>
<\/a><\/div>Non-qualified Accounts As Tax Planning Tools?<\/a><\/span>When people save for retirement they almost automatically use accounts that avoid tax now. IRAs, 401(k)s, 403(b)s, 457s, all pretax retirement savings plans. Certainly, long term savings uninterrupted by withdrawals and the effect of compounding interest on interest earned is unarguably valuable, but doing that in pretax accounts is NOT the only way to have that happen! Non-qualified annuities and Roth IRAs allow the same mechanics of compounding to happen, and in retirement both can be as valuable depending on the circumstances and actions of the retiree. Annuities are underappreciated as a tax planning tool, because of the way earnings are treated as ordinary income upon withdrawal. However if annuitized at retirement (an option the advisors that distribute them don\u2019t<\/p><\/div><\/li>
<\/a><\/div>Overlooked Opportunities<\/a><\/span>An often overlooked tax savings opportunity comes from not fully understanding how you can use your cars as a deduction on your tax return.\u00a0It is very common for people who have a Schedule C sole proprietor type business to claim their mileage on automobiles. But the privilege of using personal deductions on a tax return is not limited to someone who is filing a Schedule C.\u00a0 For instance, a landlord might own three apartment buildings and file a schedule E on his personal tax return and not feel like he is \u201cself-employed\u201d as he has a full-time W-2 job. However, the use of his personal car on that schedule E is just as deductible as it is for the Schedule<\/p><\/div><\/li>