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...]
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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...]
Don’t let expense report blunders trigger higher taxes
Do you operate your business as an S or C corporation? Do you reimburse yourself (the owner-employee) and/or your employees for the business expenses you or they incur? If you do, you could be losing thousands of dollars worth of tax deductions as I’ll explain in my new article. You see, if you don’t follow the IRS’s expense reporting rules (“accountable plan” rules) you’re … [Read more...]
A new law reinstates huge tax savings
It seems like lawmakers always have small-business owners in their gun sights. Well, finally there’s some good news that I’ll explain fully in my new article… This past December lawmakers passed a law they called the “Tax Increase Prevention Act of 2014.” Among its other provisions, the law retroactively reinstated Section 179 and bonus depreciation laws that previously … [Read more...]