___________________________________________________________I hope this issue of the Tax Reduction Letter finds you and your family in good health. Warmest good wishes at this difficult time from all of us at the Bradford Tax Institute.___________________________________________________________ Are you in business for yourself? Is your business structured as an S … [Read more...]
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If You Don’t Want 100-Percent Depreciation, Elect Out or Else
Want to take advantage of every tax break the law allows? Generally, all you have to do is elect the beneficial treatment on your tax return. Easy. But hang on a second. There’s one exception to beware of. It’s the 100% bonus depreciation deduction. If you don’t want to deduct everything at once,you have to be proactive and elect out! In my new article, we show you … [Read more...]
Husband-Wife Partnerships: The Tax Angles—Part 1
Do you and your spouse work together in a business? Could the IRS consider the business a partnership? Then watch out. You see, running your business as a proprietorship can have major tax consequences… both good and bad. That’s why the Tax Reduction Letter is devoting two articles to this important subject. If you want to make sure you’re handling things the … [Read more...]
83(b): Restricted Stock Awards and Your Taxes
Two facts about stock options you should be aware of… FACT #1: Stock options can lose most or all of their value if the underlying stock goes down in price. FACT #2: In contrast, restricted stock awards retain significant value as long as the underlying stock has appreciated. So what does the tax law have to do with these facts? Plenty. There are important federal and … [Read more...]
Eight Answers to Questions About the SECURE Act
In late December 2019, Congress passed the “Setting Every Community Up for Retirement Enhancement Act” (SECURE). If you have questions about how the new SECURE Act affects your retirement and Section 529 planning, you are not alone. We’ve received many questions from readers of the Tax Reduction Letter that deal with the impact the SECURE Act will have on their retirement … [Read more...]