If you travel (even a little), you need to know the different modes of transportation you can use and the unique rules and regulations that the IRS applies to cars, trains, planes and boats. Want to find you how to maximize your travel deductions, even when you combine a pleasure with business? Read my new article titled Tax Tips: How to Deduct Travel by Car, Train, Plane, or … [Read more...]
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How to protect insurance death-benefits from estate taxes
Careful life insurance planning has always been important. But come December 31, 2012, smart planning will be more important than ever! That’s because the current $5.12 million exemption from estate taxes expires on that date, and lawmakers have pegged the 2013 exemption at just $1 million and increased the tax rate from 35 to 55 percent! But don’t despair. With tax-smart … [Read more...]
More on how husband & wife businesses can save on taxes
Running a business with your spouse? If the answer is “yes,” some thoughtful tax planning can boost your after-tax profits. Big time! In Part 1, we explained how you can slash taxes by operating your business as a proprietorship and hiring your spouse. In this, my latest article (Part 2), you’ll learn how to achieve tax-favored status so you both can work together and pocket … [Read more...]
How your husband & wife business can save big on taxes
If you’re running your business, along with a spouse, my new article is for you. You see, with a some smart tax planning, you can increase your after-tax profits and keep them where they belong. In your pocket or purse. In this article (Part 1 of 2), we provide valuable information if you’re operating your business as a proprietorship and are the only person who manages and … [Read more...]
How to get big deductions for Long-Term Care insurance
It’s no fun to think about getting sick and needing long-term care insurance. So here’s a happier thought… If you’re in business, you can probably claim a huge tax deduction for long-term care insurance. In fact, you might be able to claim a 100% deduction. And if you’re married, the 100% deduction can include your spouse! With the cost of long-term care skyrocketing, now’s … [Read more...]