Are you running your business as a partnership? If you are, as a result of the COVID pandemic, you’re probably working at home a lot these days. Well, in our new issue of the Tax Reduction Letter, we’ll tell you the good news about how you and your partner/partners can benefit from the home-office deduction. Yes. Taking advantage of two totally-legal strategies can be … [Read more...]
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Working at Home? Don’t Overlook These Deductions
I want you to convert. No. Not your religion! I want you to convert your working-at-home personal assets into business assets. Why? Here’s the story… If you have a deductible office at home (or a non-deductible working space), you’ve got personal assets just sitting there. I’m talking about chairs, desks, antique clocks, and the like. But if you’re using those … [Read more...]
Nine Insights into PPP Loan-Forgiveness for the Self-Employed
Are you self-employed with no employees?Did you apply for a CORVID-19 Paycheck Protection Plan (PPP) loan?Did you already receive your money? Great. Now you need to know how to handle your PPP money so that you qualify for the all-important loan forgiveness! If you have questions about how to proceed legally and come out a winner, you need straight answers. That’s … [Read more...]
Unlock Tax Deductions with a Rental-Property Home Office
Want to get an early start cutting your tax bill in 2020? Then my new article is for you! You see, if you’re running a proprietorship, partnership, or corporate business, you probably already know that a home office can offer a significant tax deduction. But what you may not know is that you can get a home-office deduction for your rental property as well as a deduction … [Read more...]
Converting Your Residence into a Rental Property: Tax Issues
As you probably know, residential real estate prices are way up in many parts of the country. Rental rates are also very high. That’s why you should consider buying a new residence and converting your current residence into a rental property. Why make this move? Because you can very possibly sell your rental property down the road for a much higher price! But … [Read more...]