“Shutting Down Your CCorporation” To get my complete, FREE articlewith all the details… Do you run your business as a C corporation? Well, if you’re ready to say farewell to your business and shut it down, there are many things you need to know (some of them quite complicated!) I’ll tell you what they arewhen you read my new article. For starters, you will … [Read more...]
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NFTs and Taxes: New Rules and What You Need To Know Now
“NFTs and Taxes: New Rules and WhatYou Need to Know Now” To get my complete, FREE articlewith all the details… In this issue of the Tax Reduction Letter, I’ll be talking about NFTs - “non-fungible-tokens.” So let’s start with a definition. What is an NFT? NFTs represent ownership of virtual or physical assets which can be bought or sold on online … [Read more...]
Are You a Regular Investor or a Tax-Favored Securities Trader?
“Are You a Regular Investor ora Tax-Favored Securities Trader?” To get my complete, FREE articlewith all the details... __________________________________________________ DEFINITION: Mark to market For tax purposes, mark to market meansresetting the value of say a stock or other asset toits market price on December 31 (or fiscal yearend date if … [Read more...]
Antiques: an often-overlooked asset for businesses
An Often-Overlooked Asset for Businesses As a business owner, staying informed about tax deductions and wise investment choices is important. This February 2023 antiques article provides valuable information on how you can deduct the cost of certain antiques used in your business. The courts have established a legal precedent for your doing so by ruling in favor of … [Read more...]
Primer: When Cancellation of Debt (COD) Income Can Be Tax-Free
“Primer: When Cancellation of Debt(COD) Income Can Be Tax-Free” To get my complete articlewith all the details... Too many people are in debt and even more will likely become indebted as we possibly dip into a recession. A quick look at debt cancellation While the general federal income-tax rule states that cancellation of debt (COD) income is taxable, there are … [Read more...]