Thinking about making some extra cash by turning your home into a rental property? Well, I know just the right buyer for your property … your S corporation! That’s right. When your S corporation operates as the landlord, you’ll come out with more money in your pocket. What’s more, it’s easy to do as you’ll learn when you read my new article titled Tax Tips: Shedding … [Read more...]
Two-car deduction strategies and the IRS/courts
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...]
Get paid for hiring your child!
Want to get a tax deduction for yourself and tax-free income for your youngsters? It’s child’s play when you hire them to work for your proprietorship or partnership. That’s right. There’s lots of money to be made and saved if you know how to play the game and keep the IRS happy. Luckily, we do, and we’ll pass on all our money-saving knowledge to you when you read my new … [Read more...]
A new way to deduct 100% of employee meals
You probably know that Uncle Sam limits most of your business-meal deductions to just 50% of what you spend. You also probably know that you can ignore the 50% limit and write off 100% of meal-costs under certain circumstances (like throwing an employee party or holding an employee meeting on your business premises). What you may not know is that because of a recent … [Read more...]
Five strategies for surviving an IRS audit
You pick up your mail and there, among the bills and junk mail, is the letter you’ve always hoped would never arrive… a notification from the IRS informing you that you’re being audited. Sure this comes as a shock, but don’t panic. There are tried and true strategies you can use to come out of an audit unscathed. My advice? Before you reach for a bottle of Scotch or Pepto … [Read more...]