Thinking about leaving the U.S. and becoming a resident of another country? Or renouncing your U.S. citizenship? Or giving up your long-term residency and expatriating? You can take these steps if you want to but be aware that they’ll have serious tax consequences you need to know about. My advice? Before you pack your bags and wave goodbye to Uncle Sam, take a minute and … [Read more...]
Investments
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Tax Code’s Officially Designed “Rent-to-Own Your Home” Program for Investors and Renters
Talk about a win-win for property owners and tenants who want to become owners! The tax code’s rent-to-own program creates a no-hassle rental for the homeowner and a chance for the tenant to gain an ownership interest in the property. Don’t miss this important information! You’ll get all the details when you read my new article titled Tax Tips: Tax Code’s Officially … [Read more...]
How to collect 100% tax-free rental income
It’s a fact… Rental income is just like any other income and you have to pay income tax on it. But there’s a perfectly legal tax loophole that lets you completely exclude certain rental income from taxes! Does this sound good too good to be true? Well, it is true as you’ll discover when you read my new article titled Tax Tips: Learn a Simple Strategy for 100 Percent … [Read more...]
How to choose the right business entity (Part 2)
In Part 1 of this two-part series, we discussed the pros and cons of forming a sole proprietorship and a single-member LLC (taxed as a proprietorship). In Part 2, we discuss what the three possible corporate forms of business have to offer. You’ll get the whole story (the good, the bad, and the ugly) when you read my new article titled Tax Tips: Choosing the Right Entity … [Read more...]
A warning about self-directed IRAs
Self-directed IRAs can make a lot of sense for successful business people. It offers you more flexibility than a traditional “vanilla” IRA or 401(k) plan. Which means you could possibly wind up with a much bigger nest egg for retirement. But remember, a self-directed IRA also comes with some serious risks. So be warned… If you have a self-directed IRA and make a “prohibited … [Read more...]