Want to improve your cash flow during this difficult period? Here’s some good advice… Hire one or more of your family-members to work in your business. When you do, you can help your business and family meet their financial needs and save money on taxes! Do you have questions about how to save money by hiring family members to work in your business? Well, we have … [Read more...]
Children as employees
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Auditor Claims It’s Illegal for Parent to Employ His 11-Year-Old
Do you employ your children to work in your business? This can be a very smart move for several tax-related reasons. But be warned. When junior goes to work for you, you’d better have answers ready to pointed questions asked by the Department of Labor (DOL) and/or the IRS. For example, a DOL auditor might question your claim and decide it’s illegal for you to employ … [Read more...]
Why a Single-member LLC Is a Smart Way to Own Real Estate
In this issue of the Tax Reduction Letter, we’ll tell you about a totally legal strategy that can provide you with two extremely valuable benefits… A huge reduction in tax complexityCorporate-style liability protection How do you put this proven strategy to work? Easy… Use a single-member LLC for your real estate ownership. When you do, you’ll come out a big winner in … [Read more...]
Free checklist: 10 proven tax-reduction strategies for sole proprietors
All Sole Proprietors! Act now and get your FREE “Sole Proprietor Checklist” Get 10 proven strategiesfor slashing your Schedule C taxes! (No risk. No obligation. No charge.) Dear Sole Proprietor: Careful! You may be overpaying thousands of dollars in taxes! That’s right. Unless you know how to take advantage of the U.S. tax code, you may be paying the IRS a lot … [Read more...]
Don’t Make This S Corporation Health-Insurance Deduction Mistake
Do you own more than 2-percent of your S corporation? Then be sure to follow the special IRS rules that allow you to deduct your health-insurance premiums. These rules are particularly important if your S corporation employs your parents and/or non-dependent children who don’t own any stock in your corporation. And be aware: If you handle things the wrong way, your … [Read more...]