If you’re leasing a car that will be used for business purposes, I’ve got good news for you… If you know the ins and outs of the tax law, there are three deductions you can claim that can save you big money. Does this mean you have to spend time studying the tax code and all its rules and regulations? Not at all. We’ve done it for you and boiled all the money-saving … [Read more...]
Leases
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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...]
Don’t let the IRS poach your business hunting-trip deductions
Do you enjoy hunting? If you do, my new article is for you. You see, in Part 5 of my series on entertainment-facility tax law, you’ll find out how the IRS and lawmakers are taking potshots at your hunting activities. Want to learn how to keep these valuable entertainment-facility deductions? We’ll explain winning strategies you can use now when you read my new article … [Read more...]
How “related parties” destroy qualified leasehold improvements
Are you a landlord or the lessee? If the answer is “yes,” you can get huge tax breaks when you can take advantage of a qualified leasehold improvement. But if the landlord and the lessee are tax-law defined “related parties,” you can kiss those tax-favored benefits goodbye. For the purposes of a qualified leasehold improvement property, there are fourteen definitions of … [Read more...]
Last call! Huge deductions for landlords and tenants
If you’re a commercial landlord or tenant, here’s important advice: Consider making and placing in service “qualified leasehold improvements” before midnight, December 31, 2013. That’s right. The IRS is offering some really big tax deductions if you make approved improvements by the end of this year. Time is running out so you should consider getting started soon! Want to … [Read more...]