1. 2009 TAX UPDATE AND
THE NEWEST TAX SAVING
& WEALTH BUILDING
STRATEGIES USING THE
CURRENT TAX CODE
DARREN J. CART, CPA
PARTNER – GOING, SEBASTIEN,
FISHER & LEBOUEF, LLP
(337)942-3041
darren@goingcpa.com

2. 2009 TAX UPDATES
— NEW SALES TAXES DEDUCTION
FOR THE PURCHASE OF NEW
VEHICLES
— THERE ARE NUMEROUS NEW
ENERGY SAVINGS TAX CREDITS
— AN EXPANSION OF THE HOPE
CREDIT TO FIRST FOUR YEARS OF
COLLEGE
— 529 PLAN DISTRIBUTIONS WERE
EXPANDED TO INCLUDE
COMPUTER EQUIPMENT AND
INTERNET ACCESS FOR COLLEGE
STUDENTS
— A PORTION OF PRIVATE SCHOOL
EXPENSES CAN BE TAKEN AS A
DEDUCTION ON YOUR STATE
RETURN

3. SOME OF MY FAVORITE
EXISTING TAX SAVING
OPPORTUNITIES
— PURCHASING A NEW SUV –
EXAMPLE OF $50,000 PURCHASE
PRICE CAN WRITE OFF $40,000 IN
FIRST YEAR WITH SEC 179 AND 50%
BONUS DEPRECIATION
— HIRING CHILDREN IN YOUR
BUSINESS WITH NO SOCIAL
SECURITY TAXES OWED

4. MORE OF MY FAVORITE
TAX SAVING STRATEGIES
— SETTING UP A MEDICAL
REIMBURSEMENT ACCOUNT FOR
YOUR FAMILY BY HIRING YOUR
SPOUSE IN THE BUSINESS
— TAKING ADVANTAGE OF ZERO TAX
RATE ON CAPITAL GAINS FOR
THOSE IN THE 15% BRACKET

5. WEALTH BUILDING
STRATEGIES
— INTEREST CANCELLATION
— RULE OF 72 (COMPOUNDING OF
INTEREST)
— THE POWER OF TAX DEFERRAL
— INTEREST ARBITRAGE
— TIME VALUE OF MONEY
— OPM = OTHER PEOPLE’S MONEY
— NO STAGNANT MONEY
— ALWAYS PAY YOURSELF FIRST
— USE PROPER DIVERSIVICATION
WHEN INVESTING

6. THE 5 LESSONS A
MILLIONAIRE TAUGHT ME
“THE WEALTHY UNDERSTAND
THE PRINCIPLES OF
ACCUMULATING WEALTH AND
LIVE THEM.”
RICHARD PAUL EVANS - #1 NEW YORK TIMES
BESTSELLING AUTHOR

7. Per Richard Paul Evans
— PREPARE A PERSONAL FINANCIAL
STATEMENT. KNOW WHERE YOU
ARE AND WHERE YOU WANT TO BE.
— USE THE POWER OF THE
COMPOUNDING OF INTEREST.
— ALWAYS PAY YOURSELF FIRST.
— ONCE YOUR DEBT IS PAID OFF PUT
THIS EXTRA MONEY TOWARDS
WEALTH ACCUMULATION.

8. THE LATEST WEALTH
BUILDING STRATEGIES
— CONVERT TRADITIONAL IRA TO
ROTH IRA IN 2010 AND PAY THE TAX
ON THE LOWER VALUE.
— USE A HELOC, YOUR AVAILABLE
MONEY AND THE MONEY MERGE
ACCOUNT TO GREATLY ACCELERATE
YOUR DEBT PAYOFFS.
— BUILD YOUR OWN BANK BY
FUNDING A LIFE INSURANCE
POLICY USING THE MAXIMUM
AMOUNT ALLOWED BY THE IRS.

9. BUILD YOUR OWN BANK
— FUND THIS POLICY USING THE
MAXIMUM AMOUNT ALLOWED
BY IRS REGS
— HAVE YOUR INVESTMENT GROW
TAX FREE
— HAVE ACCESS TO YOUR MONEY
WITH NO TAX TO PAY ON
AMOUNTS TAKEN
— USE CASH VALUE FOR LARGE
PURCHASES AND PAY YOURSELF
BACK (CAR PURCHASES ETC.)
— HAVE A GUARANTEED RETURN
ON YOUR MONEY
— OF COURSE, LEAVE AN
INHERITANCE TO WIFE/
CHILDREN

10. STRATEGY OF THE MONEY MERGE CONCEPT
NEW CHECKING & SAVINGS
DEBTS
HELOC (MORTGAGE,
CREDIT CARD,
ETC.)
SAFETY NET
(SAVINGS ACCOUNT)
WITH NO
STAGNANT MONEY
AVAILABLE BALANCE =
$30,000
I WILL WRITE OFF THE INTEREST
ON MY HOME EQUITY LINE, USE A
CREDIT CARD FOR MOST OF MY
EXPENSES PAYING NO INTEREST
ON CREDIT CARDS AND BUILD UP
REWARD MILES!

12. — LIKE THE MILLIONAIRES, I ALONG
WITH MY CLIENTS HAVE A LONG
TERM PLAN. I UNDERSTAND THE
PRINCIPLES OF BUILDING WEALTH
AND I LIVE BY THEM!
I AM NOT WORRIED ABOUT MY OR
MY CLIENTS’ RETIREMENT!
WEBSITE: (website I want you to go to see if you will run out
of money before you die)
www.moneycentral.msn.com/retire/
planner.aspx
www.360financialliteracy.org
(website from AICPA that includes invaluable information on
retirement planning, investment planning, personal finance and
tax planning)