Do you own rental property that you want to convert to personal use? Or how about proprietorship-owned property like cars, desks, and computers? Then be very careful! You see, when you make the conversion, you’re in danger of triggering the depreciation-recapture tax. And it can cost you plenty. Want to learn how to avoid this tax and keep more money for … [Read more...]
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How to deduct the cost of your new business vehicle
What are our lawmakers in Congress up to these days? Not much. For example, they haven’t decided yet whether or not they’ll retroactively enact bonus depreciation and the higher Section 179 expensing limits for 2015 purchases. But lawmaker’s inactivity shouldn’t keep you from buying a new vehicle for your business right now. It really might not pay to wait for Congress to … [Read more...]
How to open the door to a world of new deductions
When it comes to claiming tax deductions, your personal assets aren’t of much use. That’s why savvy taxpayers convert those personal assets to business use and in that way, slash their tax bills. Want to learn how you can make the conversion too… and benefit big time? It’s easier than you think as you’ll learn when you read my new article titled Tax Tips: Unlock the … [Read more...]
Don’t lose your business mileage deduction!
Do you keep a detailed log of your business mileage? If you don’t, you could be in big trouble if the IRS calls you in for a little chat. Yes. I know. Keeping a careful mileage log is a pain in the neck. But thanks to a handy app and GPS tools, you can keep an accurate record of your mileage information more easily than ever. Want to get the whole story? Don’t miss my … [Read more...]
Title your vehicle the right way and save!
Shakespeare asked… “What’s in a name?” Murray Bradford answer… “A nice tax deduction!” That’s right. As you’ll learn in my new article, you can create big tax deductions for your business just by knowing whether to title your car or truck in your personal name or in the name of your corporation. How much money is involved? Well, you can generate hundreds or thousands of … [Read more...]