Thinking of selling your business? Well, before you do, you need to consider the kind of sale it’s going to be. Will it be an asset sale or a stock sale? Want to pay minimum taxes? Reduce post-sale liabilities? Get paid promptly in full? Of course you do! Which is why making the right asset sale/stock sale decision is so vitally important. You’ll find all the … [Read more...]
Husband and wife business
Sorted by Date
How to use the tax-free supper money allowance
When you or your employees have to work late, it’s a real morale buster. But you can provide a big morale booster… and grab yourself a nice tax deduction if you know the law. You see, the IRS offers a 100% deduction when you provide a qualifying “supper money” meal-allowance to those dedicated employees who work overtime. (I know that not everyone calls it “supper” any more… … [Read more...]
Turn your next husband-and-wife board meeting into a tax-deductible resort stay
Sure. If your board is made up of just you and your spouse, you can hold your next board meeting at the office or even in the kitchen. But why? As my new article explains, if you’re running a husband-and-wife-only S corporation, you can mix business with pleasure. The secret? Schedule high-level meetings during an out-of-town trip at a lovely resort. Even if you spend some … [Read more...]
How to qualify for deductions on rental-property losses
Do you co-own or co-manage a business or investment with your spouse? If you do, the tax law can help you out. Big time. You see, there are special IRS rules that allow you and your spouse to beat the IRS limits on deducting the net losses of your rental property, business, or investment. And this can amount to a lot of money! If you want to learn how joint filers can … [Read more...]
How to deduct business meals with your spouse
Not so fast! Don’t automatically assume that the IRS won’t let you deduct the cost of a business meal with your spouse. If you know how to handle things the right way, you can enjoy a leisurely dinner with your wife or husband and let Uncle Sam pick up the tab! How can you overcome the IRS’s “no deduction for personal, family, or living expenses rule”? You’ll find out when … [Read more...]