In my article, “Find new tax deductions with two-car tax strategies,” I explained a winning way to keep more money in your pocket. In my new article, you’ll learn how the IRS and the courts view your use of multiple vehicles for business purposes. And the news is good! Want to find out how to keep Uncle Sam on your side when you use two-cars or more? Read my new article … [Read more...]
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Careful! Selling to a “related party” can kill tax deductions
What’s worse than losing money on a sale? Losing your tax deductions for that loss on sale. That’s right. If you sell property to a “related party,” you may not deduct your loss on sale. What’s more, the loss you can’t deduct no longer belongs to you. It moves to the related party and can turn a bad situation into a holy mess! Want to find out how to avoid costly … [Read more...]
Use a 529 Plan or a Roth IRA to pay for college
If you’re going to be paying for your son or daughter’s college education, prepare for a shock. The price of a degree these days is sky high and the sooner you start saving, the better. What’s the best way to prepare for the day you have to write that first big check? You’ll find out when you read my new article titled Tax Tips: Child’s College: Use a 529 Plan or Tap … [Read more...]
How to deduct the cost of special needs education
If your child is attending a special needs school, you’re facing some serious financial challenges. But Uncle Sam can offer you some help. You see, tax law lets you deduct tuition, medical expenses, and more. The only catch? You need to know which expenses qualify and the right way to deduct them. We’ll provide all the necessary information when you read my new … [Read more...]
Five ways to help your adult child buy a home
Homeownership is part of the American dream. Which is why you may want to help your adult child make that important purchase. But before you pick up your checkbook, consider the tax consequences of helping out. You see, homeownership comes with some giant tax savings if you know how to play the game the right way. We’ll show you how when you read my new article titled … [Read more...]