“Avoid Tax Pitfalls of Aircraft Ownershipthrough an S Corporation” To get my complete articlewith all the details… Are you thinking of buying an aircraft through your S corporation? Well, before you start climbing up, up and away, be aware of three dangerous storms that may be right in front of you. Check them out and you’ll navigate those pitfalls … [Read more...]
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How to Make Sure Your Real Estate Options Pay Off
“How to Make SureYour Real Estate Options Pay Off” To get my complete articlewith all the details… What’s the best way to increase your profits on real estate options and rentals with options? Well, if you decide to play the options game, you could come out a big winner, but you really need to know what you’re doing. Handle things incorrectly, and you could owe … [Read more...]
Shutting Down a Partnership: The Tax Implications
“Shutting Down a Partnership:The Tax Implications” To get my complete articlewith all the details… When you start a partnership there’s plenty of good fellowship to go around. But things change for many reasons, and there may come a day when you want to shut down your partnership. If that day comes, it’s important to understand the tax implications of your … [Read more...]
Tax Quiz – Sell Stock at a Loss to Your Daughter
“Tax Quiz - Sell Stock at aLoss to Your Daughter” To get my complete articlewith all the details… Say you bought stock in 2022 for $17,000. In 2024, you sell this stock to your daughter at fair market value for $9,000. What is the loss deduction you may claim on your 2024 tax return? $0 $3,000 $8,000 $9,000 Answer Correct answer: $0. You may not … [Read more...]
Important Update: New IRS Crypto Tax Reporting Rules on the Horizon
"Important Update: New IRS CryptoTax Reporting Rules on the Horizon" To get my complete, FREE articlewith all the details… The IRS unveiled a comprehensive framework outlining new tax reporting obligations for digital asset brokers, including trading platforms, payment processors, and wallet providers. Spanning over 280 pages, the proposed regulations … [Read more...]