Here’s a fact that every business owner should know… Depending on how you’ve structured your retirement and medical plans, our year-end tax strategies can slash your 2014 tax bill by $5,000 to $15,000 or more! Does this sound too good to be true? Well, it is true and I’ll prove it to you. In my new article, I’ll explain seven killer strategies that can save you a bundle. … [Read more...]
How to turn your vehicles into huge deductions
Here’s good news for small-business owners! Because your cars, SUVs, trucks, and vans are large-ticket business expenses, they can generate enormous tax deductions for you! In fact, these deductions can add up to tens of thousands of dollars, if you act by the end of the year. Yes. Time is running out, but you can still create highly profitable year-end business tax … [Read more...]
When it comes to the home-office deduction, does size matter?
Have you decided not to take the home-office deduction because you thought your home was too small? Well, think again. You see, when it comes to a home office, size doesn’t matter to Uncle Sam. This means you can qualify for the home-office deduction even if you live in a cramped studio apartment or a tiny house! If you want to learn how to turn a small space into a huge … [Read more...]
How S corporation owners can slash their tax bills
Goldilocks wanted her porridge “not too hot” and “not too cold.” She wanted it “just right.” In the same way, as an S corporation owner who wants to pay lower payroll taxes, you should set your salary at a level that’s “just right.” In other words, you should pay yourself an amount that’s… LOW enough to save you money on taxes, but… HIGH enough to keep the IRS happy (and … [Read more...]
Great news from the IRS for rental-property owners
It’s true. The IRS actually does have great news for you! You see, Uncle Sam has just decided to help out rental-property owners who’ve used the rental property as their principal residence. Here’s the story in a nut shell… Thanks to the latest IRS advice, when you sell your rental property you could end up with a negative total tax on the sale. Getting this “negative” tax … [Read more...]