Do you claim the home-office deduction? If you do, do you claim zero depreciation so you can avoid the recapture tax? If the answer is “yes,” you may or may not have made the right decision. How can you find out if you’re handling things the right way? Easy. Read my new article titled Tax Tips: Home-Office Deduction: Should I Claim Depreciation? Three ways our … [Read more...]
Depreciation
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Golden Nugget: New Write-Offs in New Repair Regulations
Good news from the IRS! (You read that right. Uncle Sam actually has some good news for you.) You see, with the new “tangible property” regulations, you can now write off replaced components like roofs, HVAC systems, lighting systems, etc. Want to learn how to take advantage of two great new ways to save on taxes? You’ll find out how to come out a winner when you read … [Read more...]
Watch out for “phantom depreciation!”
Careful! You may be the victim of “phantom depreciation.” This occurs when the tax law depreciates your vehicles or other assets without giving you any deductions! Phantom depreciation can cost you money when you fail to elect out of bonus depreciation. But keep your chin up. We’ll explain how to solve your problems when you read my new article titled Tax Tips: Fix Your … [Read more...]
How to avoid three deadly depreciation traps!
In December, lawmakers retroactively enacted 50% bonus depreciation for 2015. If you can benefit from this largesse, great. But if you don’t want that extra 50% bonus on some or all of your assets, my new article can help you out. You see, it’s devoted to showing you how avoid three traps that the IRS has set for you. Want to walk through the IRS’s minefield … [Read more...]
Have a Small Business? Own Real Property? Discover Repair Deductions
Do you own real property? If you do, the IRS has some good news for you… If your business qualifies as a “small business,” Uncle Sam may have a nice gift for you in the form of hassle-free, income-generating expensing. Want to learn how to sail happily into Uncle Sam’s safe harbor? Read my new article titled Tax Tips: Have a Small Business? Own Real Property? Discover … [Read more...]