To get my complete, FREE articlewith all the details… Leave it to the IRS to find a new way to hurt S and C corporations. The IRS wants to cause you pain. Here’s how… The new IRS Notice 2021-49 disallows the valuable employees tax credit (ERC) to more-than-50% owners… owners who have certain living relatives. That’s right. Your corporation can’t qualify for the … [Read more...]
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Why the court denied passive-loss deductions on rentals
To get my complete, FREE articlewith all the details… Do you own rental property that’s losing money? If you do, you’d better understand the IRS’s “passive loss” rules. You see, if you know the rules and follow them, you can maximize your rental profits. If you don’t you’re inviting an IRS audit. Ouch! Are you going to come out apassive-loss winner or a … [Read more...]
Tax-savings for married couples claiming Section 179 deductions
To get my complete articlewith all the details… If you got married, it’s very possible your wedding vows included the words, “for better, for worse, for richer, for poorer.” Well, my new article was written to make sure you and your spouse come out “richer” when you claim your Section 179 deductions! A quick definition (by way of a review). Section 179 of the tax … [Read more...]
How one subscriber saved $55,000 fighting an IRS audit
To get my complete, FREE articlewith all the details… One of our husband-and-wife subscribers to the Tax Reduction Letter had a big tax deduction denied by the IRS. But thanks to the advice they got in one of our issues, they were able to successfully win their appeal and keep their $55,000 deduction! Here’s the back-story. The husband and wife owned three … [Read more...]
Married? Filing Separately May Be a Great Money-Saving Strategy for 2020
“Married? Filing Separately May BeA Great Money-Saving Strategy for 2020!” To get our complete, FREE articlewith all the details… If you’re married, I wouldn’t be surprised if you and your spouse file joint federal income-tax returns. I get it. Most of the time, a joint return resulted in a smaller tax-bill than if you filed two separate tax returns. But hang on … [Read more...]