Ouch! The tax law’s passive-loss rules can really hurt a rental-property owner. As you may have already discovered, these onerous rules can “trap” property losses and cost you big money in taxes. Which is why my new article makes must reading. You see, with proper planning you can release those trapped tax benefits and use them to reduce your tax bill. You’ll find out how … [Read more...]
Get the home-office deduction for your S Corporation
Do you operate your business as an S corporation? If you do, it’s very possible that you can take advantage of the home-office deduction. Of course, like anything that involves the IRS you have to know the rules and learn how to play the game. But the good news is, it’s really not that hard to do. Where can you get reliable, easy-to-understand answers to your home-office … [Read more...]
How to get a tax deduction for your motor home
Do you own a motor home? If the answer is “Yes,” you might be in line for some fat tax deductions! Of course, when you deal with the IRS you need to know the rules of the road. For example, “lodging” is covered by one set of rules. And “transportation” is governed by another. Want to get the whole story in language that’s easy to understand? Read my brand new article … [Read more...]
Straight answers to business-mileage questions
When it comes to figuring out tax deductions for business mileage, tricky IRS rules may leave you scratching your head. That’s where my new article comes in. It was designed to answer those off-beat but common questions that taxpayers face every day. Want to make sure you’re deducting every business-mileage penny you are entitled to? We won’t steer you wrong when you read … [Read more...]
How to claim travel transportation-cost deductions
In case you hadn’t noticed, the IRS doesn’t specialize in making things easy for taxpayers. This is especially true when it comes to figuring out business travel tax deductions. EXAMPLE: Tax deductions for the transportation component of overnight business travel are governed by a different set of rules than the set that allows deductions for lodging and meals while … [Read more...]