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...]
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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...]
Selling Your Business: Sell Corporate Stock as an Asset Sale
Selling your S or C corporation can be a tricky business. Which is why you should consider selling your corporate stock as an asset sale. You see, an asset sale can help you avoid double taxation, get rid of known and unknown liabilities, and give your buyer a step-up basis. You’ll get the whole story when you read my new article titled Tax Tips: Selling Your Business: … [Read more...]
Selling Your Business: How to Make Tax-Saving Price Allocations for an Asset Sale
If you sell a business that you’ve operated as a sole proprietorship or single-member LLC (treated as a sole proprietorship for tax purposes), you automatically are making an asset sale. To come out a winner, you need to know how the law taxes each of the assets. The good news is that if you know what you’re doing, you can slash your tax bill and collect a lot more … [Read more...]