You might think that collecting your Social Security benefits is a no-brainer. But you couldn’t be more mistaken. The truth is, you have to carefully plan your benefit collections or lose a huge chunk of money in taxes. Want to learn how to safe-guard your Social Security benefits from taxes and recapture? Read this important new article called Tax Tips to Save Your Social … [Read more...]
Corporations
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How to make loans the right way
If you make a loan and it goes bad, the IRS may step in and decide whether your loan was “real” or “fake.” The distinction is an important one. You see, real uncollectible loans give you tax-favored, bad-debt deductions. Uncollectible fake loans are deemed undesirable capital contributions and nondeductible gifts. If you want to audit-proof all your business and personal … [Read more...]
Tax-free lunches for employees
Here are two important facts you may not know: FACT #1: Under the right circumstances, you can provide tax-free lunches to your employees. A nice fringe benefit to be sure! FACT #2: As the business owner, you can also qualify for tax free lunches if you know how to play the game. You’ll learn how, when you read my new article titled Tax Tips: Tax-Free Lunches for … [Read more...]
Tax-free supper money
When your employees work overtime, do you provide them with supper or other meal money? If you do, is that meal-money a tax-free fringe benefit, or is it additional W-2 compensation to the employees? You’ll find answers to these questions, plus a lot more, when you read my new article titled Tax Tips: Tax-Free Supper Money Tax Tips. Three ways our fact-filled article can … [Read more...]
Tax tips for owners of multiple businesses
Did know that when you own more than one business, you need to consider the IRS’s “grouping” rules that apply for passive loss purposes? At first glance, the need for this disclosure may cause you to groan. But it shouldn’t. You see there’s a useful audit-proofing aspect to this disclosure that can actually work for you! You’ll get the details when you read our new article … [Read more...]