“State Rebates and Tax Benefitsfor Electric Vehicles” To get my complete, FREE articlewith all the details… I’m sure you know that the sale of electric vehicles is taking off. In most of the 50 states, you find incentives, often from the utility companies. But did you know that eight states offer generous rebates and/or tax credits when you buy: Battery … [Read more...]
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Tax Credits for Electric Vehicles (EVs): The Latest from the IRS
Important tax alert from theTax Reduction Letter You may be eligible for a $7,500 tax credit if you’re buying an electric vehicle (EV). How to get your tax credit?Read my new information-packed article and I’ll tell you. It’s free. No obligation. Important tax alert from theTax Reduction Letter … [Read more...]
Will the Newly Released Section 199A Rental Safe Harbor Work for You?
Back in January 2019, the IRS provided you with a Section 199A safe-harbor option for your rental properties. This was great news because the safe harbor made it a lot easier for your rental properties to qualify for the valuable 20% Section 199A deduction. Now, nine months later, the IRS has issued the final version of the rental safe harbor and it includes some very … [Read more...]
Get Bonus Depreciation on Purchase of Leased Vehicle
Sure, The Tax Cuts and Jobs Act (TCJA) has hurt small business owners in several ways. But the TCJA has also provided some significant tax savings, one of which we want to highlight now. The good news is that tax reform has added two new provisions that now allow you to claim bonus depreciation on the purchase of a vehicle you’re leasing. Want to learn how to take … [Read more...]
Is a Triple Net Lease to a C Corporation Qualified Business Income?
Consider this scenario… You operate your professional practice as a C corporationYour spouse rents your office to your C corporation on a triple net lease The important question you need to consider is, does your spouse qualify for the Section 199A deduction on the rental income? If this scenario applies to your situation and you’re looking for answers to the Section … [Read more...]