I want to ask you an extremely important question. Are you a small-business owner with fewer than fifty employees? If you are, then take my advice… You should definitely have a medical-plan for your business in place before 2022 rolls around! Why? Because having a medical plan makes for a happy workforce and, in the right circumstances, can save you a lot of … [Read more...]
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2021 Last-Minute Year-End Tax Strategies for Marriage, Kids, and Family
Sure, you can pay Uncle Sam more taxes than you have to. But why? Because you don’t know. You see, if you know how to take advantage of all that the law allows, you can save a bundle. Let me be specific. After you read this article, take my advice and act by December 31. When you do, you may find more money in your pocket. Are you getting married or divorced?Do you … [Read more...]
Principal Residence Gain-Exclusion Break (Part 3 of 3)
To get my complete, FREE articlewith all the details… NOTE: This issue of the Tax Reduction Letter is a“refresher” on an important topic. It’s the last ofa three-part series and I suggest you review parts 1 and 2to get complete information. Are you about to sell your home, or thinking about putting it on the market? Then I’ve got good news for you… You … [Read more...]
Raise Hell! Your Employee Retention Credit (ERC) Is at Risk
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...]
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...]