If your C or S corporation owns or leases an airplane, or if you own a plane yourself and use it for business, my new article makes must reading. Why? Because the IRS’s final regulations have just been issued and they can have a most beneficial impact on the airplane tax deductions. You’ll find more than a half-dozen strategies you can use to slash your taxes and keep … [Read more...]
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Big news about Health Savings Accounts (HSA)
Here’s surprising news… Sometimes it’s smart, moral, and perfectly legal to discriminate. That’s right. If you operate your business as a proprietorship, S corporation, or single-member LLC, the Health Savings Account (HSA) gives you the ability to discriminate, on your behalf, when it comes to benefits. To put it simply, you don’t have to contribute to an HSA on behalf of … [Read more...]
More on how husband & wife businesses can save on taxes
Running a business with your spouse? If the answer is “yes,” some thoughtful tax planning can boost your after-tax profits. Big time! In Part 1, we explained how you can slash taxes by operating your business as a proprietorship and hiring your spouse. In this, my latest article (Part 2), you’ll learn how to achieve tax-favored status so you both can work together and pocket … [Read more...]
How to get big deductions for Long-Term Care insurance
It’s no fun to think about getting sick and needing long-term care insurance. So here’s a happier thought… If you’re in business, you can probably claim a huge tax deduction for long-term care insurance. In fact, you might be able to claim a 100% deduction. And if you’re married, the 100% deduction can include your spouse! With the cost of long-term care skyrocketing, now’s … [Read more...]
How to turn your timeshare into a business
Owning a timeshare can be fun. But getting away from the office and actually using it can be a problem. The good news is that, if you have employees, you can create nice business tax deductions for your personal timeshare when you’re unable to use it yourself. Want to find out how? You’ll get the whole story when you read our new article titled Tax Tips: Create a Business … [Read more...]