There are two ways to think about your traditional IRA. (Both are valid.) Your IRA is a great way to save for retirement. You fund your account every year and watch your assets grow tax free. Your IRA is like a tax time-bomb waiting to explode. When you’re older, and it comes time to cash in your holdings, you have to pay a lot of taxes on both your contributions and … [Read more...]
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Get a home-office deduction for your rental-property business
Sometimes IRS rulings are clear and easy to follow. But when it comes to claiming a home-office deduction in connection with your rental properties, you’re entering (play spooky music) the twilight zone. You see, in order to successfully claim the home-office deduction you really have to know the ins and outs of the law. Luckily for you, we do. And we’ll tell you how to … [Read more...]
Powerful stock-portfolio tax-saving strategies
Your stock market portfolio is a great place to look for year-end tax-savings opportunities. Why? Because, if you know how to play the game… You can avoid paying taxes on stock appreciation by gifting stock to charity, your parents, and your children. You can play a simple game of offset which cancels out high taxes. If you want to learn how to handle stock market … [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...]
The truth about home equity loans
There’s no place like home. And one way to extract value from this important asset is to take out a home equity loan. After all, interest rates on home loans and home-equity lines of credit are currently low. But, before you sign on the dotted line, you need to know how the tax law treats these loans. For example, you should learn… How much interest you can deduct What … [Read more...]