Yes. Section 1031 exchanges are a great way to avoid taxes when you’re acquiring bigger and better properties. But be aware! When the time comes to cash out, 1031 should not be used. What’s the best way to avoid taxes and keep cash in your pocket? There are three proven strategies you can take advantage of as you’ll learn when you read my new article titled Tax … [Read more...]
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How to avoid partnership tax filings
Yes. With partnerships come problems. For example, if you own an unincorporated business, you likely have a partnership for financial tax purposes. Which means you have to deal with extra tax-return filings and compliance headaches. But there is some good news. You see, there are two “elections” you can make to avoid partnership treatment and many jointly owned rental … [Read more...]
Marijuana taxation (if your business is going to pot)
The legal marijuana industry is booming and there’s lots of money to be made. But if you are thinking about selling marijuana, you need to be aware of the complex federal income-tax issues you’ll face. That’s where the Tax Reduction Letter comes in. We’ll explain proven strategies that can reduce your tax bill and keep your profits from going up in smoke. Practical, … [Read more...]
Co-owner buyers need a buy-sell agreement!
Buying a business with co-owners? Then you need to set up a buy-sell agreement. And fast. Why? Because a well drafted agreement can… Transform your business ownership interest into a more liquid asset Prevent unwanted ownership changes Save taxes and avoid hassles with the IRS If you want to find out how buy-sell agreements work and how they can keep you out … [Read more...]
Should you accept Bitcoin as payment?
There’s a lot of talk these days about Bitcoin. Which is not surprising. You see, more and more businesses are using this virtual currency as a store of value and a medium of exchange. Should you start letting people pay you with Bitcoin instead of greenbacks? Well, it’s certainly worth considering. But before you make a move, you should get all the facts. That’s why … [Read more...]