It’s a fact. Business ownership can give you fat tax deductions for hiring your children and, at the same time, give your children tax-free income. And that’s just for starters. If you handle things right, your children can open Roth IRAs where they can invest their tax-free income in a college fund. Want to learn how to take advantage of this extremely attractive tax … [Read more...]
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How to manage your S Corporation fringe benefit problem
It’s a fact. Your S Corporation may not give you the tax-free fringe benefits you want. In the good old days, the S Corporation avoided double taxation, reduced self-employment taxes, and also gave you a bunch of fringe benefits. Well, sadly, the good old days are long gone (since 1982). Which means that when the S Corporation is your 2011 business entity of choice, you have … [Read more...]
How to audit-proof your self-employed tax records
If you are audited by the IRS, will your deductions stand up to close scrutiny? If you take your case to court, will you come out a winner or wind up owing even more money? You’ll find answers to these important questions in our must-read new article titled Tax Audit Tips for Travel, Entertainment, and Education. Don’t miss it! Three ways our fact-filled article can help … [Read more...]