Want to deduct the cost of a trip to a convention, seminar, or similar meeting at a beautiful resort? Especially one held in an exotic location? Then there’s an important fact you should know. The tax law divides the world into two zones: Inside North America Outside North America Why does this distinction matter? Because it affects the way you can deduct related … [Read more...]
Little known but easy ways to increase vehicle tax deductions
Do you own more than one vehicle? And do you use just one vehicle for business? Then I’ve got good news for you… If you play your cards right, you may be able to claim some hefty tax deductions using assets you already own! Whether you operate your business as a proprietorship or as a corporation, don’t miss the money-saving information we’ve got waiting for you. I … [Read more...]
Straight talk about crooked tax preparers
I sure hope your tax preparer is honest. You see, if he or she is claiming false or fraudulent deductions on your behalf, you could be in big trouble even if you’re completely innocent of any wrongdoing! That’s right. If the IRS discovers that your tax preparer is dishonest, it’s likely you’ll get caught up in the government’s web too… and suffer serious consequences. Want … [Read more...]
When you can (and can’t!) deduct mortgage insurance
The tax law used to help a lot of people by letting them deduct the cost of mortgage insurance. But times change, and in 2013 many of these deductions were no longer allowed. How does the current law treat deductions for government or private mortgage insurance on homes, rentals, and home-offices? You’ll find out when you read my new article titled Tax Tips: When You Can … [Read more...]
Beware of the stealth Alternative Minimum Tax
A stealth bomber is deadly because, thanks to its radar-defeating design, the enemy can’t see it coming. That’s why the Alternative Minimum Tax (AMT) is often called a “stealth tax.” It’s a tax that you often don’t see coming until it’s too late! Why is the AMT so dangerous? Why can it cause you such trouble when you want to change the way you do business or practice … [Read more...]