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...]
Home Office
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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...]
How Corporations Reduce IRS Audits of Home-Office Deductions
Are you paranoid that your home-office deduction will invite an IRS audit? Well, you are not alone. Countless taxpayers fail to take advantage of a big deduction that they’re entitled to because they’re afraid of Uncle Sam. The fact of the matter is… We don’t consider the home-office deduction to be an audit flag. To get the whole story about a proven step you can … [Read more...]