“Section 1031: Don’t Miss ThisDepreciation Election Opportunity” To get my complete articlewith all the details... DEFINITION: Cost segregation study. A cost segregation study is a process that examines each element of a property, splits them into different categories, and allows you … [Read more...]
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Primer: When Cancellation of Debt (COD) Income Can Be Tax-Free
“Primer: When Cancellation of Debt(COD) Income Can Be Tax-Free” To get my complete articlewith all the details... Too many people are in debt and even more will likely become indebted as we possibly dip into a recession. A quick look at debt cancellation While the general federal income-tax rule states that cancellation of debt (COD) income is taxable, there are … [Read more...]
2022 Last-Minute Year-End Tax Deductions for Your Existing Vehicles
“2022 Last-Minute Year-End TaxDeductions for YourExisting Vehicles” To get my complete articlewith all the details... The end is near! 2022 that is, and the last day of the year, December 31, is just around the corner. That’s why you should act promptly before that date if you want to take advantage of some really nice tax deductions! You see, December 31 is … [Read more...]
2022 Powerful Last-Minute Year-End Tax Deductions for Your Business
2022 Powerful Last-MinuteYear-End Deductions for Your Business To get my complete articlewith all the details... All savvy taxpayers have the same goal. To maximize deductions and keep more of their money in their pockets. The sad problem is that all too many taxpayers don’t claim all the deductions they’re entitled to and, instead, leave money in Uncle Sam’s … [Read more...]
2022 Last-Minute Section 199A Tax Reduction Strategies
“2022 Last-Minute Section 199ATax Reduction Strategies” To get my complete articlewith all the details... The clock is ticking. And if it keeps ticking after December 31 of this year, and you missed paying attention to your Section 199A tax planning, you could be losing a lot of money. Specifically, you could end up with a zero-deduction amount. That’s right, … [Read more...]