It’s a simple fact. Antique desks, clocks, cabinets, bookcases, rugs, conference tables, paperweights, and more, can add character and beauty to your office. But that’s just for starters because: Antiques can make great investments. They often appreciate in value. You can deduct antiques as a business expense if you know how to take advantage of the tax law. You’ll … [Read more...]
Exchanges
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The right way to handle a Section 1031 rental exchange
Do you own rental properties? Do you want to grow your rental-property business? Then you need to know the ins and outs of the Section 1031 exchange. Mr. Adams did. That’s why he was able to overcome an IRS objection that his Section 1031 exchange failed because his replacement rental-property fit his son’s family’s needs. We’ll explain the Adams case and show you how to … [Read more...]
Avoid taxes on the sale of a home with an office
If you’re claiming the home-office deduction and are planning to sell your home, I’ve got good news for you. Thanks to the principal-residence tax-free exclusion and the “1031 exchange” you can avoid taxes on the sale of your home. What’s more, you can enhance your deductions on your replacement home! Want to get the whole story? Check out my new article titled Tax … [Read more...]