Thinking about leaving the U.S. and becoming a resident of another country? Or renouncing your U.S. citizenship? Or giving up your long-term residency and expatriating? You can take these steps if you want to but be aware that they’ll have serious tax consequences you need to know about. My advice? Before you pack your bags and wave goodbye to Uncle Sam, take a minute and … [Read more...]
Make the 7-day travel rule work for you!
Want to lie on the beach in Puerto Rico? Or do some skiing in Canada? Uncle Sam will be happy to pay your way. That’s right. Thanks to the IRS’s seven-day rule… When you travel outside the fifty states and the District of Columbia, you can deduct your business transportation costs to and from your destination, even if you work only one day during that trip! So pack … [Read more...]
Tax Code’s Officially Designed “Rent-to-Own Your Home” Program for Investors and Renters
Talk about a win-win for property owners and tenants who want to become owners! The tax code’s rent-to-own program creates a no-hassle rental for the homeowner and a chance for the tenant to gain an ownership interest in the property. Don’t miss this important information! You’ll get all the details when you read my new article titled Tax Tips: Tax Code’s Officially … [Read more...]
IRS Expands Tax-Deductible Meetings and Seminars Boondoggle Areas
Where would you like to attend a seminar, convention, or similar meeting? Probably at a beautiful resort or at some beautiful exotic location. Well, the good news is that Uncle Sam is happy to let you deduct the entire cost of getting to and coming from the event, even when you spend some days there vacationing! The only catch? You have to abide by IRS rules that we’ll … [Read more...]
How to collect 100% tax-free rental income
It’s a fact… Rental income is just like any other income and you have to pay income tax on it. But there’s a perfectly legal tax loophole that lets you completely exclude certain rental income from taxes! Does this sound good too good to be true? Well, it is true as you’ll discover when you read my new article titled Tax Tips: Learn a Simple Strategy for 100 Percent … [Read more...]