Thinking about buying a business? Then my new article is for you! You see, in past issues I’ve talked about… The kind of entity that owns the business The kind of entity you will use to operate the business The tax impact of your situation In this new issue, I’ll show you how it all comes together when you buy a business that owns intangible assets like … [Read more...]
SEP or 401(k); how to retire early (and in comfort!)
If you want a carefree (and scarefree) retirement, now is the time to act. Start by paying yourself first. You work hard and deserve it. Next, take advantage of a SEP or 401(k) retirement plan. The tax code lets you sock away your “contributions” in a tax-deferred plan that lets your money compound over the years tax free. (You pay tax when you withdraw funds years … [Read more...]
Dangerous Waters of Inherited Non-Spousal IRAs—Navigate Carefully
As you probably know, a traditional IRA is a wonderful tax-advantaged way to save for a secure retirement. What you might not know is that the rules concerning the inheritance of a traditional IRA can be tricky. In fact, the smallest mistake can prove extremely costly. This is especially true if you inherit an IRA from someone other than your spouse. Want to make sure … [Read more...]
How to incorporate tax free!
Want to incorporate a new or existing business — and do it tax-free! Then Section 351 of the tax code is for you! You see, thanks to Section 351 you can… Form a new business as a corporation Convert a proprietorship to a corporation Convert a partnership to a corporation We’ll show you how Section 351 can save you money and avoid problems when you read my new … [Read more...]
How to deduct the cost of special needs education
If your child is attending a special needs school, you’re facing some serious financial challenges. But Uncle Sam can offer you some help. You see, tax law lets you deduct tuition, medical expenses, and more. The only catch? You need to know which expenses qualify and the right way to deduct them. We’ll provide all the necessary information when you read my new … [Read more...]