When you’re dead, the status of the Section 179 deduction you took on your business vehicle won’t be troubling you much. But you’re alive and kicking! Which means you’re able to read my new article that explains what happens to your Section 179 tax deduction if you die, retire, or become disabled. Okay. I admit that this is not the most cheerful subject in the world, but if … [Read more...]
Retirement
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How to keep your Section 105 plan working in retirement
You may not be working in retirement, but if you know how to play your cards right, your Section 105 medical-reimbursement plan can keep working for you even after you call it quits. What’s the catch? There isn’t any but you have to do some planning. Which is where my new article comes in. It will show you how to make sure your Section 105 plan continues providing tax benefits … [Read more...]
Don’t make this fatal tax-deduction error
Tax deductions are great. But you have to make sure they’re legal. In my new article, I’ll tell you about Dr. Elick who wanted to create fat deductions but made a devastating error that cost him dearly. You see, he created an Employee Stock Ownership Plan (ESOP) to maximize his deductions, and also created a management services corporation to provide services to his … [Read more...]
The dangers of a “Self-Directed” IRA
Are you thinking of investing in a “self-directed” IRA? If you are, here are two words of advice… “Watch out!” You see, unlike a regular vanilla IRA, a self-directed IRA allows you to invest in all kinds of nontraditional assets like apartments, duplexes, equipment leasing, first and second mortgages, limited partnerships, commercial paper, and more. The result? It’s … [Read more...]
Inheriting an IRA? Here’s how to slash your tax bill
Ben Franklin once said "Nothing is sure but death and taxes.” Ben was certainly right about death, but he was (understandably) unaware of some recent, money-saving changes in the tax law. You see, if your spouse dies, and you inherit his or her IRA, you can now get some welcome relief from heavy taxes. Want to find out how to handle an inherited IRA the smart way? Don’t … [Read more...]