When you sell your business, price isn’t the only thing to consider. You also have to take into account the tax implications of the sale. The good news is that Uncle Sam will work with you when you and your buyer structure a “contingent sale” — also know as an “earn out” deal. You’ll get all the details when you read my new article titled Tax Tips: Selling Your Business … [Read more...]
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Rent equipment to your corporation!
It’s a fact … Renting equipment to your corporation is a tricky business. To keep the IRS happy, you have to know the ins and outs of Section 179 expensing. Handle things the right way and you could save a bundle. Make a mistake and you could be inviting an audit. But don’t worry. We’ll explain the intricacies of the law in easy-to-understand language when you read my … [Read more...]
The right way to handle disability income premiums
Sure. Disability insurance makes a lot of sense. If you’re ever laid up and unable to work, it’s nice to have a dependable source of income. Want to learn when the IRS will let you or your corporation deduct disability premiums and collect disability premiums tax free? Easy. You’ll get all the money saving information you need when you read my new article titled Tax Tips … [Read more...]
Sell Your Home to Your S Corporation and Then Make It Your Rental Property
Are you thinking of moving to a new home? Then I have good news for you … You see, your current home might make a great rental property which could create tax-free income for you plus you could form a new S corporation that would give you a step-up in the depreciable basis for the rental house. Want to find out more? Easy. Read my new article titled Tax Tips: Sell Home to S … [Read more...]
An important warning concerning your S corporation
Forming an S corporation to save on self-employment taxes is a great idea. BUT … If you earn income and assign it to your corporation, Uncle Sam will crush you like a bug! Want to stay uncrushed? We’ll show you the right way your S corporation can save on taxes when you read my new article titled Tax Tips: Don’t Get Crushed by Assigning Income to Your S … [Read more...]