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...]
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New commercial-office tax breaks!
Thinking about making improvements to your commercial-office space? Act now! Why? Because the recently passed Protecting Americans from Tax Hikes (PATH) Act can put thousands of dollars in your pocket if you make improvements to your non-residential property promptly. More good news… It’s very easy to qualify for this new and hefty tax money-saver as we’ll explain when … [Read more...]
How to choose the right business entity (Part 1)
Are you starting a business or thinking about buying one? Then you’ll have to consider which form of business entity you’re going to establish. A sole proprietorship A single-member LLC An S corporation A C corporation Each form of business has its own advantages and disadvantages which we’ll analyze in our two-part series. In part one, we’ll examine the … [Read more...]
A little-known way to cut your tax bill
If you pay foreign taxes on income generated abroad, you’re probably eligible for a nice U.S. tax deduction or credit. Don’t stop reading because you think you don’t have a foreign account or direct foreign investment. If you’ve got money in U.S. stocks or mutual funds that invest overseas, you likely are paying foreign taxes. You’re just not aware of it. And the good … [Read more...]
A quick guide to real estate options
Using options can be a great way to increase profits on real estate investments and rentals. But you have to be careful and avoid a number of dangerous traps. That’s why my new article makes “must” reading. It can help you avoid making costly errors and show you how to maximize profits. Want to find out more? Read my new article titled Tax Tips: Make Sure Your Real … [Read more...]