Do you have significant insurance needs? If you do, you should consider creating and owning a “captive” insurance company. Why? Because a captive insurance company could… Save you big money Create a substantial tax shelter Produce a nice pile of cash Want to find out if a captive insurance company makes sense for you? Read my new article Tax Tips: Captive … [Read more...]
Tax Policy
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How to deduct the cost of your new business vehicle
What are our lawmakers in Congress up to these days? Not much. For example, they haven’t decided yet whether or not they’ll retroactively enact bonus depreciation and the higher Section 179 expensing limits for 2015 purchases. But lawmaker’s inactivity shouldn’t keep you from buying a new vehicle for your business right now. It really might not pay to wait for Congress to … [Read more...]
How to solve a mortgage-interest deduction problem
If you live in a house and make mortgage payments, but someone else owns the property, can you still get a tax break? The answer is “yes!” You see, if you know how to handle things the right way, you can deduct up to 100% of the mortgage interest you pay… even if someone else’s name is on the deed and mortgage documents. Want to find out more? Easy. Read my new article … [Read more...]
How to sell your C corporation stock, tax free!
Here’s good news for C corporation stock owners… 2015 is the first year that you can sell your C corporation stock completely tax-free under Section 1202 of the tax code. That’s right. If you meet certain requirements, you can permanently escape taxes on the appreciation of your C corporation stock. All you have to do is hold your shares for five years before you sell … [Read more...]
How S corporation owners can slash their tax bills
Goldilocks wanted her porridge “not too hot” and “not too cold.” She wanted it “just right.” In the same way, as an S corporation owner who wants to pay lower payroll taxes, you should set your salary at a level that’s “just right.” In other words, you should pay yourself an amount that’s… LOW enough to save you money on taxes, but… HIGH enough to keep the IRS happy (and … [Read more...]