15 49.0138 8.38624 1 4000 1 https://taxbot.com/blog 300 true 0

Was Ben Franklin’s Math Wrong?


To be fair, it wasn’t wrong when he was alive – but unfortunately, it’s dead wrong today…

You’ve heard his famous saying a million times…

“A penny saved is a penny earned.”

In other words… saving money is just as valuable as earning money.

“But why is this statement wrong?” you might be asking…

Well, back when ‘ol Franklin was around there was NO INCOME TAX! That’s right! Income tax wasn’t officially introduced for 123 years after he died… And when you consider income tax, his math is all wrong, because taxes eat away your earnings!

Let’s say you “earn” $100 in profit for your business… Well, since income tax became a thing, you have to pay taxes on that income… After taxes, you’ll end up with about $65 (I assumed a reasonable 35% tax bracket)…

So, in reality, earning $100 really only leaves you with $65…

Crazy right?

But saving $100 – well that’s a better deal!

…See, if you could find some new tax deductions and shelter $100 from income taxes, then 100% of that $100 would be yours to keep…

“a penny saved” would actually be worth more than a new “penny earned!”  Balance is restored, and just like the old days, and you could use that entire $100 on whatever you wanted!

Earning $100 leaves you with $65…

Saving $100 on taxes leaves you with the full $100…

So, saving money is actually 153% better return on investment in this case. 

If Ben Franklin was alive today, he may have changed his axiom to – “A penny saved is worth 2 pennies earned!”

Want to see something else crazy?

Let’s say you had $1.00 and you could double that dollar every year for 20 years… At the end of twenty years you’d have just over a million dollars!

If your dollar doubled every year for 20 years, you’d have a million dollars!

Pretty sweet right? Well, unfortunately this 20-year scenario doesn’t take that blasted income tax into account…

Let’s run the numbers again with taxes…

Take the same dollar, and again double your gains every year for 20 years.  But this time we will pay taxes as we go… As you can see in the chart, at the end of year one, instead of $2.00, you now only have $1.65 after paying 35% in taxes…year 2… only $2.72 instead of $4.00… so on and so forth…

Check out the what happens in year 20… after 20 years you have less than $23,000!

$22,730 vs. $1,000,000!

Here’s the truth…

Saving money on your taxes is a big deal… In fact, lowering your taxes to the legal limit is one of the quickest ways for you to build wealth!  Why? Because…

“A penny saved is greater than a penny earned!”

So, how’d you like to increase your tax refund by up to $10,000, or perhaps even $15,000 or more on your taxes next year?

If you are self-employed this is a real possibility because:

  1. There are many, many times more deductions for business owners than there are for people who are employees collecting a paycheck you just need to know where to find them…


  • An estimated 93% of self-employed people are overpaying their taxes every year, even if they have an accountant… or even if they are not making a ton of money yet… And I can show you how to avoid overpaying your taxes.

Trust me, we’ve been teaching business owners how to find tax deductions that are hidden in plain sight for a combined 50 years! And we would like to help you unlock some real life-changing tax breaks in your life…

Consider this, a few years ago we did a half-day training event showing a big group of business owners all of the unused tax deductions they’d been sitting on… We decided to follow up with that group one-year later, after they’d had a chance to apply their new knowledge and work with their accountants…

And we found that, on average, those attendees had found an average of $20,000 in NEW tax deductions that they hadn’t claimed in the past!

That sounds incredible right? But it’s actually quite typical of our students…

So, what do you think? Would you like me to show you how to save a boatload of taxes next year… and every year after that?

I’m so confident that I can do it that I’ll make you an irresistible offer:

I’ve put together an online version of my masterclass which we call Taxbot University.

And I’m so sure that if you enroll in Taxbot University that you’ll save at least $5,000 or more on your taxes next year (I’m talking new deductions you haven’t claimed before), that I’ll make you this promise…

Enroll in our Taxbot University Masterclass – taught by former IRS attorney & co-founder of Taxbot, Sandy Botkin.  And after finishing the course, if you don’t believe that you’ll save at least $5,000 because of it, then I’ll give you a no-questions asked refund for every penny you invested!

Not only will I refund your entire investment, but I’ll also buy you a steak dinner! You read it right – I’ll send you a gift card so you can take yourself out to a steak dinner and congratulate yourself on being the ONLY person ever to have their business operating with such tax-efficiency that I couldn’t help them come up with some strategy they could implement to save them $5,000!  If you are that person, you deserve to have your meal paid for.

Here is just a tiny fraction of the things we’ll cover:

  • How the Tax Cuts Act (the biggest overhaul to the tax system in 3 decades) has fundamentally changed the tax game for self-employed people – and how to capitalize on it NOW!
  • This one is genius… How simply driving your spouse’s car occasionally can unlock $1,000’s in EXTRA tax savings without any additional driving!
  • The “Blueprint Magic Trick” that we used to help one of our customers increase his home office deduction by 25% with no extra work! And how you can do the same thing.
  • How to set up a retirement plan that makes any government pension plan look weak in comparison!
  • How to legally deduct all your kids’ hobbies, college, and even weddings (all things that are normally not deductible) through your business where you can actually write it off!
  • How the new tax law makes it 300% more affordable to drive luxury cars for business than it used to be – and how to trade-up your vehicle for a nicer one without costing you a dime!
  • Why most self-employed people “donate” an extra $10,000 to the IRS and how to make sure you get every deduction you are legally entitled to!
  • Why everyone needs to own a business in today’s economy. Even if it’s only a part time, so you can protect yourself from all forms of unnecessary taxes. 
  • The IRS approved “Healthcare Refund” that you have never heard about even though it has been in the tax code for 60+ years! This could be the easiest money you can find with an average savings of almost $6,000/year for those that qualify. 
  • Travel points are great… But they are worth nothing when compared to the cash savings you can get when you plan your travel using the IRS code to your advantage so you can get bonus tax deductions!
  • How to skate through an IRS audit untouched if you do get the dreaded letter… Hint, its more about having a good offense than defense.
  • The trick to write-off your equipment twice! (Including your cars, computers, furniture, and more! 
  • The simple system that creates bulletproof alibi’s that will stand up to the most scrupulous IRS auditor!
  • The costly mistake most self-employed people make when claiming vehicle deductions – and how to fix it.
  • The tax loophole so big you can drive a truck through it…literally.
  • The two different ways to write off your vehicle – and how to choose one that cash flows the best for each type of vehicle.
  • The trick to turning more of your personal driving into business write-offs.
  • When you should lease a car instead of purchase.
  • How to avoid a 75% civil fraud penalty if you get audited.
  • Three dangerous myths that could trigger an audit.
  • How the wealthy use vehicles and equipment to pass on income to kids or family members without “tax gifting” problems.
  • Know which vehicles you should buy to get as much as 800% more tax write-offs.
  • How to “create” $15,000 in extra cash using some simple home office tips your CPA hasn’t mentioned to you. 
  • How to automatically create a good offense and defense against the IRS and protect your money. 
  • Two deductions most accountants miss… And how to get that money back for the last 3 years
  • And a ton of other strategies…

Imagine finding $5,000, $10,000 or more in new tax deductions… How could having that extra cash year-after-year impact your life?

Here are what a few of my past students have had to say:

“This course was laced with humor and wit… I learned a ton of ways to save money and I actually had fun listening to a tax course… Pigs must be flying”
– J. Engel, AZ

“If I had to pay $5,000 plus for the seminar, I would, knowing how much I am going to gain…”
– G. Barker, from Perrysburg OH

“I’m sure I’ll save at least ten times the price of the seminar. I would highly recommend this for anyone who is self-employed.” 
– M Peiper, from Ogden UT

“This is the best seminar I have attended in the last 5 years and worth more than the money paid for all the others combined. It will put you on top, looking down!” 
– S. Seaborn, from Tampa FL

“As an accountant, I wish all my clients would go through this course. Then we could really save the client money and be sure they are staying compliant.
– Ryan Cason, CPA, Tax Sentry, UT

Are You Ready to Save? Here’s My Offer:

The regular price of enrollment in Taxbot University is $395 and considering that it is very likely you will uncover enough deductions to save at least $5,000 or more next year, that is a pretty great deal. 

Click here to enroll: www.taxbot.com/university

And Don’t forget The Money-Back Guarantee!

Plus, as I mentioned, it comes with a 60-day money back guarantee: If you take the course in the first 60 days, and you don’t believe you learned enough strategies to save at least $5,000 next year on your taxes, then call for a no-questions, hassle free refund for your full investment.

… and don’t forget about my offer to buy to you that steak dinner! If your business is already running at maximum tax efficiency and I can’t find an extra $5,000 of savings for you, I’d like to buy you that dinner and I will because frankly, you deserve it.

Listen, you can now see that Ben Franklin’s “penny saved” axiom is even more relevant now than ever before. With Taxbot University you’ll be able to protect more of your hard-earned money from going into the IRS coffers, when it belongs in your pocket… Then you can put that money to work for you and accelerate your wealth building! 

Ben Franklin had another famous saying, “an ounce of prevention is worth a pound of cure!”

In other words – “do something now to prevent something bad happening later!”

So, enroll in Taxbot University now and avoid overpaying your taxes now and forever into the future!

It’s decision time…

One year from now… are you going to be jumping for joy at the sight of your new, larger tax refund (or simply paying less tax if you make too much to get a refund) …. or are you going to be kicking yourself for not taking me up on this risk-free offer to learn how to spot thousands of dollars in deductions your missing out on?

Put it to the test! You’ve got nothing to lose with our 60-day money back guarantee + the free steak dinner bet!  See you inside Taxbot University!

Yes! I want to enroll in Taxbot University! Click here to enroll: www.taxbot.com/university

All content on this site is the property of Taxbot, LLC and/or the author. You may link to any article that you wish, or share via the social media buttons below. However, please do not copy articles or images for use on other sites without express written permission.

Was this post helpful?
Let us know, if you liked this post.
Powered by Helpful
Previous Post
My Retirement Plan Ends
Next Post
My Retirement Plan Ends… A Little More