Thinking about starting a new business? Well, if you know how to play the game, you can begin earning tax benefits as soon as you start thinking about creating your new business! You see, Uncle Sam wants to encourage people to create new businesses so he offers some hefty tax breaks for budding entrepreneurs. He’ll even let you deduct preliminary thinking time! Want to … [Read more...]
Investment tax credits
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How your start-up can save big money
Lawmakers finally got it! They realized that it takes time to grow a new business and that it may not generate tax revenue for a while. So they put some extremely helpful rules into the Protecting Americans from Tax Hikes (PATH) Act of 2015. If you are thinking about starting a new small business, you may be able to save a lot of money. But you have to know how to play … [Read more...]
Secrets of Collecting Residential Solar Tax Credits from the IRS
Want to slash your utility bills by thousands of dollars? Then a solar water-heating and/or solar electric system might be perfect for you. And best of all, Uncle Sam can help pay for your system by providing you with a 30 percent tax credit! Want to find out how to turn sunshine into cash? Read my new article titled Tax Tips: Secrets of Collecting Residential Solar Tax … [Read more...]
How to buy a historic building with tax credits
Would a unique historic building be perfect for your office? It may be a lot more affordable than you think. You see, the federal government and state governments want you to rehabilitate these historic buildings -- and they give you an attractive financial incentive to do so. Here’s their deal… If you invest in and restore a historic building, federal and state … [Read more...]
Why Section 1045 of the tax code can be your friend
Good news from your buddies at the IRS… If you handle things the right way, they’ll let you buy a small business, sell it a huge profit, and defer the taxes as if you had completed a tax-deferred exchange! That’s right. Thanks to Section 1045 of the tax code, you can enjoy the exact same tax-deferral benefits that you can get with a Section 1031 exchange. Want to find out … [Read more...]