Whoever said “It’s better to give than to receive” never read the tax code.
You see, if you make a gift of business property the wrong way, you could wind up losing valuable tax benefits.
How can you make gifts of business property to your children or others and avoid problems with the IRS?
Easy. Read my new article titled Tax Tips: Beware When Gifting Business Property!
Three ways our fact-filled article can help you:
- We’ll tell you how “recapture” rules can cost you big time. “Recapture” basically refers to additional taxes you may have to pay Uncle Sam. Make a gift of business property in an improper manner and the IRS can recapture the money you owe. If you want to avoid serious recapture problems, now is the time to read the full article.
- You’ll learn how to make gifts, problem free. There are several ways to give gifts that don’t trigger recapture problems. But these powerful strategies need a careful explanation, which is exactly what you’ll get when you read the full article.
- We’ll explain how to avoid losing valuable loss deductions. Recapture is just one of the problems gift-givers face. If you make a gift of an asset on which you could have claimed a deductible tax loss, that tax loss is gone forever. We’ll show you how to play the game the right way when you read the full article.