Want to save on your tax bill when you buy a rental property? Then pay close attention to the closing statement. If you’re smart, you’ll go over the statement’s line items and assign each to one of three categories… Business Loan acquisition Operations Then you’ll be in a position to consider the best tax strategy for each category. Want to learn how to use … [Read more...]
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How to convert business property to personal use?
Do you own rental property that you want to convert to personal use? Or how about proprietorship-owned property like cars, desks, and computers? Then be very careful! You see, when you make the conversion, you’re in danger of triggering the depreciation-recapture tax. And it can cost you plenty. Want to learn how to avoid this tax and keep more money for … [Read more...]
How seller financing can make you a fortune!
If you’re considering selling a rental property or your home, your first instinct may be to require an all-cash offer. But this may not be the best way to go. You see, if you finance the deal yourself, you could come out a whole lot better. My advice? Keep an open mind and read my new article titled Tax Tips: Use Seller Financing to Create Wealth. Three ways our … [Read more...]
What rental-property owners should know about seller financing?
Thinking about selling your rental property? Then consider financing the deal yourself. (Real-estate pros call this arrangement a “seller take-back.”) If you’re worried about a buyer not paying up, you should know that a default can actually be profitable for you. Here’s some good advice… read my new article Tax Tips: Cash In When the Buyer Defaults on Your Seller … [Read more...]
The best way to sell your business!
Thinking of selling your business? Well, before you do, you need to consider the kind of sale it’s going to be. Will it be an asset sale or a stock sale? Want to pay minimum taxes? Reduce post-sale liabilities? Get paid promptly in full? Of course you do! Which is why making the right asset sale/stock sale decision is so vitally important. You’ll find all the … [Read more...]