Good news! If you act before we ring in 2013, you can save a lot of money on your tax bill. How? By using the capital gain and loss strategies that I’ll explain in my latest article. And make no mistake. These strategies can help you claim fat tax deductions that you may not be aware of. Don’t miss this chance to act while there’s still time! Consider this your personal … [Read more...]
Capital Gains
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Four year-end tax strategies for you and the kids
Marriage and divorce are deeply personal matters that involve strong emotions. But the IRS doesn’t care a bit about your feelings. Uncle Sam just wants to get his money. That’s why, if you’re thinking about getting married or divorced, you need to answer this rather unfeeling tax question: “Should I get married or divorced before December 31?” The answer can have huge tax … [Read more...]
Important news for real estate investors!
If you invest in real estate, ask yourself this vitally important question… “Am I a real estate ‘investor’ or a ‘dealer?’” How you answer this question can have huge tax consequences. For example, in a recent case, Mr. Donald Flood filed his tax return expecting to pay $240,000 in federal taxes at the 15% capital gains rate that applies to real estate investors. But the Tax … [Read more...]
How “stock redemption” can give you a big tax break
Are you the sole owner of a C corporation or S corporation? Are you thinking about retiring? Then before you make any moves, you should read my new article. You see, it explains one of the right ways to transfer ownership to your kids, business associates, employees, or other shareholders. How you handle the transfer can have major tax implications which I explain in my … [Read more...]
Converting a business asset to personal use
Do you have an asset that’s owned by your business that you want to convert to personal use? Maybe a car, a computer, office furniture, or something else of value? If the answer is “Yes,” be careful. VERY careful. You see, when you make a conversion like that, you first could face some recapture and then, after that, the business asset retains its business attributes. Which … [Read more...]