Good news! Your building, whether it’s a rental property or your office, can likely put money in your pocket. What’s more, you can start saving now with a building you already own, a building you plan on buying, or a building you are renovating. How? By using four money-saving strategies we’ll explain when you read my new article titled Tax Tips: Four Tax Strategies … [Read more...]
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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...]
Watch out for “phantom depreciation!”
Careful! You may be the victim of “phantom depreciation.” This occurs when the tax law depreciates your vehicles or other assets without giving you any deductions! Phantom depreciation can cost you money when you fail to elect out of bonus depreciation. But keep your chin up. We’ll explain how to solve your problems when you read my new article titled Tax Tips: Fix Your … [Read more...]
Grab these 5 year-end business deductions!
December 31st is approaching fast. That’s why, if you act promptly, before people start shouting “Happy New Year!,” you can save a lot on taxes. How? Well, in my new article I’ll outline five money-saving strategies designed to save you money. BIG money. So get going while the going is good and read my new article titled Tax Tips: 2015 Last-Minute Year-End General … [Read more...]
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...]