Who would you rather rent to? A relative you know well and trust, or a total stranger who may wind up trashing your property? The answer’s obvious, but if you rent to a relative you have to be careful. You see, the IRS insists that you comply with strict fair-rent regulations and rules concerning your relative’s use of your property. Break the law and you could lose all … [Read more...]
Relatives
Sorted by Date
Beyond the FBAR: Discover Little-Known Tax Traps in Foreign Reporting
It’s a fact … The IRS is going after taxpayers who fail to report their offshore accounts. Yes. You may have filed your FBAR and/or form 8938 and think you’re in good shape, but be aware … Uncle Sam has piled on a bunch of little-known international reporting requirements plus stiff penalties for non compliance. Want to stay out of big trouble with the IRS? Easy! Read … [Read more...]
How to avoid costly Section 179 “recapture”
Did you take the Section 179 deduction on the tangible property you bought for your business? Good move … but be careful! You see, the deduction comes with strings attached and if you don’t comply with the tax law, Uncle Sam can show up and “recapture” a lot of money. We’ll show you how to avoid problems and stay on the right side of the law when you read my new article … [Read more...]
7 year-end stock-portfolio tax strategies
2015 is coming to an end very soon, which means now is the time to turn your stock-market portfolio into a powerful tax-cutting machine. But don’t wait! If you want to save money (and who doesn’t), don’t miss our information-packed article titled Tax Tips: 2015 Last-Minute Year-End Tax Strategies for Your Stock Portfolio. Five ways our fact-filled article can help … [Read more...]
4 year-end family tax-planning strategies
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...]