December 31 is right around the corner. Which means now is the time to take advantage of vehicle deductions. I’m talking about extremely valuable deductions you may be able to take on your currently-driven business cars, SUVs, trucks, and vans. But time is running out and you need to act before the end of the year. That’s why I urge you to take a minute right now and read … [Read more...]
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Five last-minute year-end business deductions
Who says year-end tax planning has to be difficult? If you know the tax law inside out (and we do!), there are easy steps you can and should take right now that will cut your tax bill big time. What money-saving strategies can you put to work in the final days of December 2018? You’ll find out when you read my new article titled Tax Tips: 2018 Last-Minute Year-End … [Read more...]
Defining “real estate investor” and “real estate dealer”
Here’s a good news double header… Good news #1: You can be both a real estate investor and a real estate dealer with respect to your real estate portfolio. This puts you where you want to be. In control. Good news #2: By knowing just a few rules about dealer/investor classifications, you can dramatically increase your net worth. Want to find out more? Read my new article … [Read more...]
TCJA: Convert Personal Vehicle to Business and Deduct up to 100%
Now is the time to convert! Not your religion. Your vehicle. You see, thanks to the Tax Cuts and Jobs Act, when you convert your personal vehicle to a business vehicle, you could save a lot of money. In fact, upon conversion, you can instantly qualify for a 100-percent deduction on the fair market value of your personal vehicle. Want to find out more about how to use … [Read more...]
How cost segregation can turn your rental into a cash cow
Thanks to the Tax Cuts and Jobs Act, conducting a cost-segregation study on your rental property can put a lot of money in your pocket. What exactly is cost segregation? How can a cost-segregation study on your real property save you big money? It’s really not that hard, but you have to know the IRS’s rules and follow them carefully. To find out how to put this … [Read more...]