Planning on getting married? Congratulations! Planning on getting divorced? Congratulations! (if they’re in order.) Planning on giving money to family or friends? Congratulations to them and to you for your beneficence! The important point? When you take action and do these things you create very real tax consequences. We’ll tell you how to take advantage of four, … [Read more...]
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How to convert business property to personal use?
Do you own rental property that you want to convert to personal use? Or how about proprietorship-owned property like cars, desks, and computers? Then be very careful! You see, when you make the conversion, you’re in danger of triggering the depreciation-recapture tax. And it can cost you plenty. Want to learn how to avoid this tax and keep more money for … [Read more...]
How to slash college costs with tax credits
The good news… Uncle Sam offers eleven possible education tax benefits that can save you a lot of money. The bad news… With all those choices it can be hard to know which tax benefit makes the most sense for you. That’s why my new article makes “must” reading. It simplifies things by explaining how you can qualify for one of just two outstanding tax credits. The … [Read more...]
Save on taxes by putting your kids to work
If your children work in your business you can benefit in two important ways. You’ll get to have extra family time and help them develop a strong work ethic. You can create some nice tax savings for yourself. Want to learn how you and your kids can both benefit thanks to Uncle Sam? Don’t miss my new article titled Tax Tips: Hire Your Kids to Work in Your LLC or Sole … [Read more...]
How to throw a party and get a 100% deduction
Allow me to rewrite the lyrics of a famous song in order to help you cut your tax bill… The party's over, It's time to call it a day And if you’re up on the law, Deduct all expenses away. That’s right. Thanks to Uncle Sam, you can deduct 100% of the cost of your company parties if you follow a few simple rules. The bottom line? Before you crank up the music and the … [Read more...]