It’s almost time to say goodbye to 2018. But before you do, I urge you to read my new article. Why? Because I’ll tell you how to use five year-end tax deduction strategies that can save you a lot of money. Don’t miss this opportunity to take advantage of the money-saving breaks that Uncle Sam is ready to give you. Act now and read my new article titled Tax Tips: 2018 … [Read more...]
Parents
Sorted by Date
Tax Reform Increases the Tax Benefits of Employing Your Child
Sure. Tax reform has had its downsides, but it also provides some substantial money-saving benefits for business owners. For example, if you (or you and your spouse) own a business, your children can dramatically increase tax benefits for both you and them. That’s a win/win situation too good to pass up! Want to find out how to put a totally legal “hire your child” strategy … [Read more...]
Get paid for hiring your child!
Want to get a tax deduction for yourself and tax-free income for your youngsters? It’s child’s play when you hire them to work for your proprietorship or partnership. That’s right. There’s lots of money to be made and saved if you know how to play the game and keep the IRS happy. Luckily, we do, and we’ll pass on all our money-saving knowledge to you when you read my new … [Read more...]
Don’t be surprised by the related-party matching rule
Operating your business as a C corporation, S corporation, or LLC can have its advantages — like limited liability protection. But there are things you have to watch out for. Exhibit #1: The related-party matching rule If you’re not careful this rule will put your business on the cash method for deducting payments to related cash-method taxpayers. The bottom … [Read more...]
Send your child to camp. Get a tax credit.
Here’s some good news from the IRS… If you send your (under-13-year-old) child to summer camp, or a before-or-after-school program, you may be able to claim the child and dependent care tax credit. Of course, we’re dealing with the IRS so you have to know the rules. Luckily, we do, and we’ll show you how to play the game completely legally when you read my new article … [Read more...]