Hamlet asked, “To be or not to be?” But there’s another important question he should have asked… “To lease or to buy a new car?” The answer to this question is not an easy one. And if you come up with the wrong answer, you could end up paying a lot more than you should and miss out on some big tax savings. That’s why my new article is so important. It lists the ten factors … [Read more...]
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How to get a deduction for your classic car
Do you drive a classic car in the course of conducting your business? If you do, here’s a fact you should know… Some important tax law changes now allow you to claim a fat deduction on your four-wheeled business asset! Of course, as always, the devil (and the IRS) is in the details and you have to know how to handle things correctly. We’ll show you how, and steer you in … [Read more...]
How to avoid the Section 179 rental equipment “Gotcha”
Do you operate as an S or C corporation? If the answer is “yes,” you know it’s smart to get money out of your corporation without exposing it to payroll taxes or double taxation. One proven way to do this is to rent equipment to your corporation. But if you do rent Section 179 personal property to your corporation you’ll have to confront one big “gotcha” and two high … [Read more...]
Nine year-end strategies for claiming business-vehicle deductions
Thinking about buying or selling a business car, truck, van, or motor home? Then you need to read my new article right now. Why? Because I’ll tell you how to get some substantial vehicle deductions and avoid vehicle buying/selling tax mistakes this year… which is going to come to an end very soon. If you handle things the right way, you could wind up with more spendable … [Read more...]
How to switch from IRS mileage to actual expenses
Are you getting the most out of your business-vehicle deductions? If you’re using the IRS standard “mileage-rate” method, have you ever wondered what you need to do to switch to the actual expense method? I’ll show how to make that switch the right way when you read my new article titled Tax Tips: You Can Switch from the IRS Mileage Rate to the Actual-Expense Method. Three … [Read more...]