How do you structure your real estate activities? Are you running a business or simply investing in properties? The answer can have big tax consequences! EXAMPLE: If you want to take a trip to a real estate seminar you may be able to deduct all the related expenses… or maybe not. It all depends on how you’ve structured your activities. Which is why you need more … [Read more...]
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When a house won’t sell, consider a lease-option
Trying to sell a house that’s sitting on the market without attracting a decent offer? Don’t give up. Think creatively and use a lease-with-an-option-to-buy strategy to get the cash flow flowing! When you find the right tenant, this arrangement can make sense for everyone concerned. But beware. There are tax traps that you’ll need to avoid if you want to come out a winner. … [Read more...]
How to get a deduction for your “entertainment facility”
Happy New Year! I don’t know what New Year’s resolutions you’ve made, but I’ve resolved to keep doing all I can to cut your tax bill in 2014… and I want to get started right now! Let’s kick off the New Year with some great ideas about how to make an entertainment-facility tax deductible to you and tax free to your “rank-and-file” employees. What does the IRS mean by an … [Read more...]
Winning year-end tax strategies for stock investors
2013 has been a great year for the stock market. But there’s another good reason to celebrate. If you act before the end of the year, you can save big money on taxes and help others at the same time! How? For starters, read my new article and learn the right way to offset your stock market gains and losses. Consider making a gift of appreciated stock to charity. Sure, … [Read more...]
Five ways to avoid the new Obamacare tax
Watch out! The new Obamacare tax is coming. That’s right. The new 3.8 % Obamacare tax on net investment and passive income makes its unwelcome debut on your 2013 tax return. You may hear the new tax referred to as the: Obamacare tax Net investment income tax (NIIT) Medicare tax Whatever you call it, the new tax can hurt you a lot, unless you know what you’re … [Read more...]